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Informist, Friday, Jun. 19, 2026

 

By Arya S. Biju

MUMBAI – Benchmark equity indices are expected to move in a thin range in the upcoming week, with a positive bias, according to technical analysts. Crude oil prices staying below $70 per barrel and the strong rupee are seen supporting market sentiment, they said. However, some analysts see a cautious tone prevailing in the domestic market as investors await further clarity on the US-Iran peace deal after peace talks on Friday were suspended and amid rising concerns over the impact of a delayed monsoon on the economy. 

 

Friday, the Nifty 50 index closed at 24013.10, down 154.90 points, or 0.6%, and the BSE Sensex settled at 76802.90, down 607.08 points, or 0.8%. This decline came after the indices rose for five straight sessions. On a weekly basis, both the indices shed around 2?ch. "Nifty (50) on Friday's session witnessed marginal profit booking after the strong rally of more than 1100 points in just five sessions," Pabitro Mukherjee, deputy vice-president of technical research at Bajaj Broking said in a note. "Some consolidation after a 1100 points up move in just five sessions cannot be ruled out in the Nifty (50). However, we believe the overall structure is positive, and dips should be used to accumulate quality stocks in a staggered manner," he added. 

 

While there are growing expectations of an earnings recovery towards the second half of 2026–27 (Apr-Mar) and stable currency and lower crude oil prices are seen supporting the positive sentiment, concerns over the durability of the interim peace deal signed by the US and Iran persist. In the latest development, US Vice President JD Vance suspended plans to meet Iranian representatives in Switzerland Friday. Some reports also noted that peace talks had been suspended due to ongoing Israeli air strikes on Lebanon. This sparked concerns about the preliminary US-Iran peace deal turning into a lasting agreement. 

 

Further, volatility in domestic information technology stocks is expected to continue in the coming week after Friday's sharp fall after IT bellwether Accenture's weak sales guidance sparked concerns over discretionary spending. 

 

Next week, immediate support for the Nifty 50 index is seen at 23800-23700 points and resistance at 24200–24250 points, according to technical analysts. "The broader trend remains positive as the index (Nifty 50) continues to trade above its short-term 50-DMA, placed at 23840 (points), keeping the possibility of a gradual move towards 24400 (points) intact in the near term," Nilesh Jain, vice-president-head of technical and derivative research at Centrum Finverse, said. Going forward, investors will closely monitor foreign fund flows, updates on US-Iran deal, monsoon progress, crude oil prices, and management commentary from Infosys, Trent, Adani Enterprises, Adani Ports and Special Economic Zone, and Cipla, which will hold their annual general meetings next week.  End

 

Reported by Arya S. Biju

Edited by Deepshikha Bhardwaj

 

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