Opening Bell 23 June 2025: Nifty and Bank Nifty Start Lower Amid Global Cues | Intraday Stock Picks
By CapitalKeeper | Market Opening | Intraday Ideas | Market Moves That Matter
Indian stock market opened lower on 23 June 2025 as Nifty and Bank Nifty face resistance at key zones. Global cues remain cautious. Get intraday stock picks, sector-wise technical analysis, and support-resistance levels for Nifty, Bank Nifty, and Fin Nifty.
🔔 Market Opening Snapshot
| Index | Previous Close | Today’s Open | Sentiment |
|---|---|---|---|
| Nifty 50 | 25,112.40 | 24,939.75 | 🔻 Gap-down Start |
| Bank Nifty | 56,252.83 | 55,832.35 | 🔻 Bearish Bias |
| Sensex | 82,630.35 | 81,984.44 | 🔻 Risk-off Mode |
| Fin Nifty | 26,648.70 | 26,448.75 | 🔻 Weak Open |
📈 Technical Outlook – 23 June 2025
🔹 Nifty 50:
- Resistance: 25,200 zone remains the key hurdle for upside follow-through.
- Support: Immediate downside support seen around 24,930–24,900.
- A decisive breach below 24,900 can accelerate sell-off towards 24,750.
🔹 Bank Nifty:
- Resistance: 56,500 remains the upper ceiling.
- Support: Zone between 55,900–55,800 is crucial to defend.
- If Bank Nifty slips below 55,800, expect broader market pressure to deepen.
🌐 Global Market Cues
- US Markets closed slightly lower on rate uncertainty.
- Dow Jones -0.15%, Nasdaq -0.20%, S&P500 -0.11%
- Asian Markets:
- Nikkei and Hang Seng opened weak; SGX Nifty hints at cautious tone.
- Crude Oil: $82.20 – slightly down, supportive for oil marketing companies (BPCL, HPCL).
- USDINR: 83.40 – stable, no major pressure on currency side.
- FII/DII Action: FII selling increased on Friday; DII marginally supported mid-caps.
🔍 Sectoral Overview
| Sector | Sentiment | Insight |
|---|---|---|
| 💼 Banking | 🔻 Weak | Private banks under pressure, PSU stable |
| 🛢️ Energy | 🔼 Resilient | OMCs supported by oil softness |
| 💊 Pharma | 🔁 Mixed | Stock-specific activity |
| 🛒 FMCG | 🔽 Underperform | HUL, Nestle dragging index |
| 🖥️ IT | 🔁 Flat | Infosys and TCS hold minor gains |
✅ Top 5 Intraday Stock Picks – 23 June 2025
- BPCL (CMP ₹311.30)
🔹 Energy sector supported; crude down
🎯 Target: ₹343 | 🛑 SL: ₹302 - ICICI Bank (CMP ₹1,413.40)
🔹 Holding up better within banking; potential pullback
🎯 Target: ₹1,458 | 🛑 SL: ₹1,410 - Sun Pharma (CMP ₹1,649.75)
🔹 Pharma rotation expected; delivery volumes rising
🎯 Target: ₹1,790 | 🛑 SL: ₹1,630 - Tata Motors (CMP ₹669.20)
🔹 Auto stocks seeing mild recovery
🎯 Target: ₹705 | 🛑 SL: ₹656 - Infosys (CMP ₹1,580.60)
🔹 Stable IT performance amid global volatility
🎯 Target: ₹1,770 | 🛑 SL: ₹1,532
🗞️ Market Headlines & News Flow
- 📌 US Fed Chair comments hint at prolonged rate pause – pressuring global tech
- 📉 FII data shows ₹1,530 Cr net outflow on Friday – cautious stance
- 🛢️ Crude oil eases – boosts outlook for OMCs
- 💼 India Inc. gearing up for Q1FY26 earnings preview season – IT, BFSI in focus
- 📈 Technical setup favors sell-on-rise near resistance zones
🧠 CapitalKeeper View
“Today’s gap-down open aligns with weak global sentiment and FII outflows. However, markets are still within the broader consolidation range. Holding above 24,900 will be crucial for Nifty bulls, while Bank Nifty needs to sustain above 55,800 for any upward momentum. Stock-specific action likely to dominate the session.”
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