Market Analysis: Technical Analysis and Top 5 Stocks to Watch on June 11th, 2025

On June 10, the Nifty 50 index showed early promise as it reached the 25,200 level, but soon faced a downward trend due to profit booking, resulting in a flat close with a marginal gain of 1.05 points at 25,104. Despite this volatility, the index managed to stay above a long-term downward resistance line and remained close to the upper Bollinger Band, which is actively expanding. The decreasing India VIX at 14.02, the lowest since April 4, also helped boost market sentiment.

If Nifty maintains its position above 25,200, it could potentially surge towards the 25,300–25,500 range in the coming days, with initial support levels located at 25,000–24,900. Throughout the trading day, Nifty opened on a positive note, reaching an intraday high of 25,199 before undergoing profit-taking, which brought it down to 25,055. However, the index managed to recover and maintained a narrow trading range for the remainder of the session. On the daily chart, a bearish candle was formed with a small lower shadow, indicating potential downward pressure. Despite this, the RSI stood at 61.82, indicating a bullish trend, while the MACD suggested upward momentum with strengthening histogram bars, signaling a continuation of the positive trend.

In the options market, the highest Call open interest was recorded at the 26,000 strike, followed by 25,500 and 25,200. Considerable Call writing was observed at 25,200. On the Put side, the 25,000 strike had the highest open interest, with significant levels at 24,500 and 24,800, with maximum Put writing seen at 25,100.

The Bank Nifty index, on the other hand, saw a four-day winning streak being snapped, closing lower by 210.5 points at 56,629 due to profit booking activities. Despite this setback, the index held its position near the upper Bollinger Band, which continued to expand. The MACD exhibited strength with a positive crossover and a healthy histogram, while the RSI dipped slightly but retained its bullish stance above 60 at 66.03.

Overall, despite some market fluctuations and profit booking, the technical indicators suggest that both the Nifty 50 and Bank Nifty indices maintain positive momentum and are poised for further growth in the near term, barring any unforeseen negative developments. Investors should continue to monitor key support and resistance levels to make informed trading decisions in the current market environment.