Indian stock market: Indian equity markets closed lower on Friday, ending a five-session rally as investors turned cautious amid uncertainty surrounding delayed peace negotiations and weak signals from global technology stocks.
The benchmark BSE Sensex declined 607.08 points, or 0.78%, to settle at 76,802.90. During the session, the index tumbled as much as 940.26 points, or 1.21%, touching an intraday low of 76,469.72.
Similarly, the NSE Nifty 50 finished in negative territory, shedding 154.90 points, or 0.64%, to close at 24,013.10.
Stock market next week
Nifty 50
On 19th June 2026, the Nifty 50 opened with a gap-down at 23,991.20, reflecting cautious sentiment at the start of the session. The index largely traded in a consolidation range during most part of the session. However, volatility intensified towards the closing hours, resulting in sharp intraday swings. The Nifty first registered its intraday low of 23,901.90 before witnessing a swift recovery to an intraday high of 24,047.20. The index eventually settled at 24,013.10, ending the day with a decline of 154.90 points or 0.64% over the previous close.
According to Sumeet Bagadia, Executive Director at Choice Broking, on the daily timeframe, the formation of a doji-like candlestick pattern indicates indecisiveness among market participants. The pattern reflects a balance between buyers and sellers after the recent up move and suggests that the market may be awaiting fresh triggers for its next directional move.
“From a technical perspective, immediate support is placed in the 23,850–23,900 range, while resistance is observed between 24,100 and 24,150 levels. The Relative Strength Index (RSI) stands at 57.76, indicating that momentum remains positive despite the consolidation witnessed during the session. In the derivatives segment, notable call writing was seen at the 24,000 strike, followed by 24,200, while significant put writing was observed at 24,000 and 23,900 levels, indicating immediate support near the 24,000 zone while resistance remains positioned at higher strikes,” said Bagadia.
Bank Nifty
The Bank Nifty index opened with a gap-down at 57,754.95, indicating cautious sentiment in the banking space at the opening bell. The index remained under pressure during the first half and extended its decline into the early part of the second half, where it registered its intraday low of 57,464.55. However, buying interest emerged from lower levels and volatility increased towards the latter part of the session, helping the index recover sharply and register its intraday high of 57,804.90 before settling at 57,685.75. The index ended the day with a decline of 278.05 points or 0.48%.
Bagadia noted that on the daily timeframe, the formation of a small hammer-like candlestick pattern reflects buying support emerging from lower levels. The long lower shadow suggests that buyers remained active near support zones despite weakness during the session.
“From a technical standpoint, immediate support is placed in the 57,300–57,400 range, while resistance is seen in the 58,000–58,100 zone. The Relative Strength Index (RSI) stands at 67.81, indicating strong momentum and continued strength in the banking index despite the corrective move witnessed during the session. Sustaining above immediate support zones will remain important for continuation of the prevailing bullish trend,” he added.
He further recommended traders to closely monitor immediate resistance zones, as a sustained move above these levels could strengthen bullish momentum, while support levels continue to act as key demand areas in the near term, as recent price action suggests a range-bound and volatile trading session with both benchmark indices opening lower and spending most of the day in consolidation.
Volatility increased sharply towards the close, resulting in swift intraday swings across both indices. While Nifty formed a doji-like pattern reflecting indecision, Bank Nifty managed to recover significantly from lower levels and formed a small hammer-like structure, indicating some buying support at lower levels, he said.
Stocks to buy
Sumeet Bagadia has recommended three stocks to buy on Monday, 22 June. The three stock picks by Bagadia are – Fineotex Chemical, Bank of Maharashtra, and Filatex India.
1] Fineotex Chemical: Buy at ₹43.52 | Target Price: ₹47.80 | Stop Loss: ₹41.25
2] Bank of Maharashtra: Buy at ₹90.19 | Target Price: ₹99 | Stop Loss: ₹85.80
3] Filatex India: Buy at ₹54.86 | Target Price: ₹60 | Stop Loss: ₹52
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
