Nifty Prediction for Thursday, June 18: Stock market benchmark indices ended higher on Wednesday, taking their winning run to the fourth straight session, with the Nifty reclaiming the 24,000 mark and the Sensex closing above 77,100, buoyed by softening crude oil prices following a peace deal between the US and Iran.
With the broader market sentiment turning decisively bullish, all eyes are now on Thursday, June 18, as the Nifty50 approaches a make-or-break technical level that could trigger a major trend reversal.
Created with AI. Errors are possibleNifty at close on Wednesday, June 17
Market sentiment remained upbeat after international crude oil prices slipped below the USD 80-per-barrel level amid expectations of improved global energy supplies following progress in the US-Iran peace agreement. Lower oil prices are seen as positive for India, a major crude importer, as they help ease inflationary pressures and support corporate earnings.
Nifty top gainers and losers on Wednesday, June 17
Nifty Prediction for Thursday, June 18 by experts
Technical analysts point out that while the bulls are firmly in the driver’s seat, Thursday’s session will see a fierce battle at a crucial moving average that has capped the market’s upside for months.
Traders are expected to closely monitor whether the benchmark can decisively cross the 100-day DEMA hurdle, which could mark a significant shift in the market’s medium-term trend.
Nifty Prediction for Thursday, June 18 by Nandish Shah
According to Nandish Shah, Deputy Vice President at HDFC Securities, the Nifty’s strong close near the day’s high reflects sustained buying interest and strengthens the possibility of further upside.
“The Nifty extended its winning streak for the fourth consecutive session, gaining 96 points to close at 24,085. After opening higher by 55 points, the index-maintained strength throughout the session and settled near the day’s highs, underscoring sustained buying interest. The index has now rebounded more than 1,000 points from its recent swing low of 23,072 to an intraday high of 24,108. NSE cash market turnover rose 11% compared to the previous session,” he said.
Sectoral performance remained mixed. Consumer Durables, PSU Banks and Metals ended with the most gains, whereas Auto, Real Estate and Healthcare closed in the red with minor losses.
He further said the broader markets continued their upward journey for the fourth day in a row, tracking the benchmark’s strength. The Nifty Midcap 100 and Nifty Smallcap 100 indices advanced 0.52% and 0.79%, respectively. Market breadth remained positive, with the BSE advance-decline ratio at 1.28.
Shah said that the Nifty is now approaching a crucial resistance at the 100-day DEMA, currently around 24,153. “This level consistently capped pullback rallies during April and May 2026. A decisive close above the 100 DEMA would be a significant development, potentially confirming a bullish trend reversal on the positional timeframe, marking the first such breakout since the escalation of the West Asia conflict,” he pointed out.
If Nifty sustains above 24,153, the next upside target is seen near the 200 DEMA at 24,465. On the downside, the 23,800 level is expected to act as immediate support, providing a cushion against any short-term profit booking,” Shah said.
Nifty Prediction for Thursday, June 18 by Sachin Gupta
Sachin Gupta, VP – Technical Research at Choice Broking, also maintained a positive outlook after the benchmark formed a bullish candlestick pattern on the daily chart, indicating sustained buying interest and positive market sentiment.
The formation suggests that buyers remained in control throughout the session despite intermittent consolidation, reflecting underlying strength in the ongoing uptrend, Gupta stated.
“Indian equity benchmark Nifty index witnessed a positive close on 17th June 2026. The index opened with a gap-up of 55.35 points at 24,044.50. After a positive start, the index witnessed a brief spike lower in the initial few minutes, registering an intraday low of 23,969.70. Buying interest soon emerged, helping the index recover and register its intraday high of 24,108.20 during the first half of the session. Thereafter, the Nifty moved into a phase of consolidation with a sideways-to-positive bias for the remainder of the day and eventually settled at 24,085.70, ending the session with a gain of 96.55 points or 0.40%,” Gupta said.
From a technical perspective, Gupta said the immediate support is placed in the 23,800–23,850 zone, while resistance is observed in the 24,200–24,250 range.
“The Relative Strength Index (RSI) stands at 60.87, indicating strengthening momentum and continued bullish undertones in the broader market. The volatility index, India VIX, declined by 1.30% to close at 13.19, indicating easing volatility and improved confidence among market participants. In the derivatives segment, notable call writing was observed at the 24,100 and 24,200 strikes, while put writing was concentrated at the 24,000 and 23,900 levels, suggesting immediate support near the 24,000 zone and resistance around higher strike levels,” Gupta said.
Sectorally, the market witnessed a mixed-to-positive performance. Consumer Durables, PSU Banks, Metals, IT, Media, Oil & Gas, Realty and Cement indices emerged as key gainers, while Auto, FMCG, Pharma, Healthcare and Financial Services indices witnessed mild profit booking.
Broader market breadth remained positive, with advancing stocks comfortably outnumbering declining stocks, indicating healthy participation across the broader market.
“Markets witnessed another positive trading session with both benchmark indices opening higher and maintaining a constructive bias throughout the day. Nifty recovered quickly from initial weakness and registered their respective intraday highs during the first half before entering a phase of consolidation. Sectoral participation remained encouraging, led by strength in Consumer Durables, PSU Banks, Metals, IT and Media, while broader market breadth also remained healthy with advances significantly outnumbering declines,” Gupta stated.
Going forward, the analyst said sustained movement above immediate resistance levels could further strengthen bullish momentum, while key support zones continue to provide a cushion against short-term volatility.”
Broader markets, sectoral indices on Wednesday, June 17
The broader markets also ended in positive territory. The Nifty MidCap index advanced 0.52 per cent, while the Nifty SmallCap index climbed 0.79 per cent.
Sector-wise, the Nifty PSU Bank index outperformed the market, followed by the Nifty Consumer Durables and Nifty Metal indices.
On the other hand, the Nifty Auto and Nifty Realty indices ended as the biggest laggards of the session.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
