MID DAY MARKET UPDATE – 17 June 2025
By CapitalKeeper | Mid Day | Indian Equities | Market Moves That Matter
Nifty Slips Below 24,900: Profit Booking in Financials, Global Cues Muted
| Index | Today’s Open | Mid-Day (12:45 PM IST) |
|---|---|---|
| Nifty 50 | 24,977.85 | 24,855.05 |
| Bank Nifty | 55,975.00 | 55,716.35 |
| Sensex | 81,869.47 | 81,534.78 |
| Fin Nifty | 26,577.25 | 26,503.50 |
🧭 Market Overview:
The Indian stock market is witnessing mid-session pressure as Nifty and Bank Nifty retrace from morning highs, led by weakness in financials, auto, and select FMCG counters. Despite a strong opening, profit booking near resistance levels has triggered a cool-off across benchmark indices. Traders remain cautious ahead of U.S. Fed Chair Powell’s testimony and weekly FII data inflows.
🔍 Key Intraday Levels (Updated):
- Nifty 50
🔼 Resistance: 25,100 | 🔽 Support: 24,800
🔎 Nifty is trading near its support zone of 24,850. Breakdown may trigger a test of 24,700. - Bank Nifty
🔼 Resistance: 56,200 | 🔽 Support: 55,600
🛑 Downtrend from 56,000 continuing—PSU banks holding better than private ones.
🌍 Global Market Cues:
- Asian markets are mostly mixed; Shanghai Composite down 0.5%, Nikkei flat.
- US Futures trade mildly negative after overnight gains in S&P500 and Nasdaq.
- Crude Oil remains near $78.10/barrel – energy sector expected to stay active.
- USDINR steady at 83.40 – no sharp volatility seen.
- Focus today remains on upcoming Fed commentary and Eurozone inflation print.
🧩 Sectoral Snapshot (Mid-Day Trend):
| Sector | Sentiment | Highlights |
|---|---|---|
| 🔻 Banking & Fin | Negative | ICICI, HDFC Bank under pressure; profit booking seen post early rally |
| ⚖️ IT | Sideways | Infosys and LTIMindtree stable; no sharp moves yet |
| 🔼 Energy | Positive | OMCs like BPCL, HPCL supported by stable crude prices |
| 🔻 FMCG | Negative | HUL, Britannia dragging index lower |
| ⚖️ Pharma | Neutral | CIPLA, Dr. Reddy holding above breakout zones |
📌 Top 5 BTST Stock Picks for 18 June 2025
- ✅ BPCL (CMP ₹315.60)
📌 OMC strength continues; follow-through likely with support from crude
🎯 Target: ₹340 | 🛑 SL: ₹308 - ✅ Dr. Reddy’s (CMP ₹1,336.00)
📌 Pharma strength + good delivery volumes
🎯 Target: ₹1,550 | 🛑 SL: ₹1,324 - ✅ Tata Power (CMP ₹396.50)
📌 Green energy theme + bullish RSI crossover
🎯 Target: ₹460 | 🛑 SL: ₹371 - ✅ LTIMindtree (CMP ₹5,500.25)
📌 Stable IT buying seen in large-caps; good for BTST swing
🎯 Target: ₹5,575 | 🛑 SL: ₹5,355 - ✅ Divis Lab (CMP ₹6,520.50)
📌 Pharma BTST trade setup; strong demand zone at ₹6,500 holding
🎯 Target: ₹6,750 | 🛑 SL: ₹6,470
📰 Key Market News Driving Sentiment:
- India’s WPI Inflation rises to 3.25% in May, higher than expected (est. 2.9%).
- FII Flows turn mildly negative on Monday; net outflows of ₹442 Cr.
- U.S. Fed Chair Powell testimony tonight could give clues on next rate action.
- Crude Supply Data (API) due late night—important for energy and inflation-linked stocks.
💬 CapitalKeeper’s Intraday Outlook:
“The market is undergoing healthy consolidation, especially in banking and auto stocks. If Nifty holds above 24,800, expect a pullback in the second half. Meanwhile, sectors like energy and pharma are showing relative strength and offer selective BTST opportunities.”
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