Market Outlook 24th Jun 2025: Technical Call Of The Day & Top 5 Stocks In Focus For 24th June 2025
Nifty index opened negative by more than 170 points on account of global concerns. It faced selling pressure in the first tick but recovered well for the rest of the day and managed to close above its opening levels. It formed a small bodied bullish candle and an inside bar on daily frame which indicates support based buying is intact but negative impact of the geopolitical tensions sunk it below 25k marks. Now it has to hold above 24900, for an up move towards 25150 and 25250 zones while supports can be seen at 24800 then 24700 zones.
On option front, Maximum Call OI is at 25000 then 25500 strike while Maximum Put OI is at 24000 then 25000 strike. Call writing is seen at 25000 then 25300 strike while Put writing is seen at 24600 then 24900 strike. Option data suggests a broader trading range in between 24500 to 25300 zones while an immediate range between 24700 to 25200 levels.
S&P BSE Sensex index opened on a negative note and remained subdued during the early part of the session. However, it witnessed a recovery from the support zone near 81500 and managed to hold above the previous session’s low. The index faced resistance around 82150 zones followed by profit booking, and eventually settled near the 81900 marks with losses of around 510 points. On the daily chart, it formed an inside bar with both upper and lower shadows, suggesting a potential range-bound movement in the upcoming sessions. Now if it holds above 81500 zones, strength could be seen towards 82200 then 82500 zones whereas supports are placed at 81500 then 81200 zones.
Bank Nifty index opened gap down by more than 400 points in line with the weak global cues but remained consolidative in a narrow range of 200 points between 55800 to 56000 zones for the first half of the session. Later, some recovery was seen from lower levels towards 56250 zones but it again failed to hold at higher levels to close near 56050 zones. It formed an Inside bar on daily scale as it broadly traded in the range of previous day’s session. Now it has to hold above 56000 zones for an up move towards 56350 then 56500 levels while on the downside support is seen at 55750 then 55555 zones.
Nifty future closed negative with losses of 0.47% at 24993 levels. Positive setup seen in KEI, Trent, Polycab, BEL, CDSL, Nykaa, RBL bank, Glenmark, MCX and LTF while weakness in Patanjali, Tata Technologies, Lupin, Asian paints, Bajaj Auto, Sonacoms, INOX wind, Sun Pharma, Alkem and Concor.
VIPIND - TECHNICAL CALL OF THE DAY
The Stock is comfortably trading above all its key moving averages of 40/100 and 200 EMA levels on a daily basis indicating strength in stock price. The uptrend is visible via the trend line in the charts supported by positive RSI divergence and positive super trend indicator.
BUY VIPIND CMP 429.65 SL 406.10 TGT 451.95
Top stocks to watch out for 24th Jun
HG Infra:
HG Infra has been declared as lowest bidder for Creation of Integrated Material Handling Facility at the Naval Dockyard in Mumbai (ND (MBI)) by Military Engineer Services (MES) in the state of Maharashtra. These orders valued at Rs 117.77 crore are expected to be executed within 30 months.
Allcargo Logistics:
The company has released its monthly business update for the month of May and it said that despite the continued volatility due to geopolitical disruptions, Allcargo witnessed a growth of 6.3% YoY in FCL, 4.4% YoY in Air and marginal 3.7% YoY de-growth in LCL business during May 2025. Further, demand is expected to witness volatility due to trade tensions and uncertainties in the geopolitical landscape.
Devyani International:
The company has informed about further acquisition of 80.72% equity stake in Sky Gate Hospitality Pvt Ltd (Sky Gate) along with its subsidiaries for Rs 106.25 crore. Post the said acquisition, Sky Gate along with its subsidiaries (a) Blackvelvet Hospitality Pvt Ltd; (b) Say Chefs Eatery Pvt Ltd; and (c) Peanutbutter and Jelly Pvt Ltd have become subsidiaries of the company w.e.f. 10th June 2025. The rationale behind the acquisition is to make further investments in Sky Gate's subsidiaries and Sky Gate's operational and general corporate purposes belonging to the Food and Beverages industry.
ACME Solar:
Regarding initial commissioning of 26.4 MW and additional commissioning of 19.8 MW wind power project at Shapar, Gujarat, by the company’s wholly owned subsidiary, ACME Pokhran Solar Pvt Ltd, the said project has now commissioned additional 3.3 MW and with this, the project is fully commissioned. With this, the total operational renewable energy capacity of the company has increased to 2,829.5 MW.
Wipro:
Wipro had signed a definitive agreement to subscribe for the equity share capital in AMPIN Energy C&I One Pvt Ltd and that the transaction was expected to be completed by 30th June 2025. The company has now informed exchanges that the transaction is now expected to be completed latest by 31st March 2026.
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