Nifty Prediction for 29 June, 2026: Indian equity markets are gearing up for a crucial trading week amid a tug-of-war between bulls and bears. Following a volatile session on Thursday, June 25, which saw the key benchmarks finish with modest gains of 0.14 per cent as easing crude oil prices supported sentiment, although profit booking at higher levels capped the rally, investors are closely watching key technical parameters for the upcoming session on Monday, June 29, 2026.
Nifty50 at close on Thursday, June 26
According to market experts, falling crude oil prices supported the rupee and helped maintain positive sentiment in the domestic market.
For Monday, June 29, technical analysts expect the Nifty to remain in a consolidation phase with a mildly bullish bias, while a decisive breakout above the 24,260-24,500 zone is seen as crucial for extending the recovery.
Nifty Prediction for next week (June 29 to July 3) by brokerage firm Choice Institutional Equities
Brokerage firm Choice Institutional Equities said the Nifty index started the week on a mildly positive note, opening 93.50 points higher at 24,106.60. However, profit booking emerged during the initial part of the week, dragging the index to its weekly low of 23,784.95. Despite the early weakness, buying interest reappeared near lower levels, helping the index recover steadily. The benchmark subsequently climbed to its weekly high of 24,261.60 before witnessing some range-bound movement in the final sessions. Nifty eventually settled at 24,056.00, registering a modest weekly gain of 42.90 points, or 0.18%, indicating a consolidation phase after the recent recovery.
According to Choice Institutional Equities, the index has formed a Doji-like candlestick pattern on the weekly chart, signalling indecision as the index continues to consolidate within a broader sideways range.
“From a technical perspective, the RSI on the weekly timeframe stands near 48.15, reflecting improving momentum while remaining just below the bullish threshold of 50,” the brokerage stated, adding that the index has successfully taken support near the 100-week EMA and continues to sustain above it, while also closing above the previous week’s closing level, highlighting buying interest at lower levels. However, Nifty still trades below the 20-week and 50-week EMAs, suggesting that higher levels may continue to witness resistance until a decisive breakout occurs.
On the upside, immediate resistance levels are placed at 24,400 and 24,500. A sustained move above these levels could trigger fresh buying momentum and strengthen the ongoing recovery. On the downside, support is seen at 23,900 and 23,800, it said.
The brokerage further believed a breakdown below the 23,800 zone may invite renewed selling pressure and weaken the current technical structure. “Considering the prevailing setup, traders are advised to maintain a stock-specific approach while following strict risk management amid continued market consolidation,” it concluded.
- Support Levels – 23,900 – 23,800
- Resistance Levels – 24,400 – 24,500
- Overall Bias – Sideways to Bullish
Nifty Prediction for Monday, June 29 by Om Mehra
Om Mehra, Technical Research Analyst, SAMCO Securities, said Nifty ended the session at 24,056.00, up a marginal 0.14%, while closing the week with a 0.18% gain.
“On the daily chart, the index formed a shooting star pattern, with today’s candle displaying a long upper wick after touching an intraday high of 24,261.60 before profit booking emerged and pulled the index back towards the day’s opening level,” Mehra said.
While this candlestick formation warrants some caution at current levels, the broader trend remains constructive, with the index continuing to hold above the middle Bollinger Band, he said.
The RSI is placed at 57, indicating steady momentum. The MACD remains in positive territory, reflecting underlying strength despite the recent volatility, Mehra said.
“The upper Bollinger Band at 24,260 has repeatedly capped advances and remains the key level to watch. A decisive breakout above this zone could pave the way for a fresh test of the recent highs. Until then, 23,800 is expected to provide support on any decline,” the analyst said.
Nandish Shah, Deputy Vice President at HDFC Securities, said the Nifty extended gains for a second straight session rising 34 points to close at 24,056 but failed to sustain above its previous swing high as traders booked profits ahead of the extended weekend.
“The index opened with a strong gap-up of over 100 points and built on the momentum in the first half, touching an intraday high of 24,261. However, profit booking in the latter half dragged the index down by more than 200 points from the day’s high, as traders turned cautious ahead of the extended weekend, leading to a near-flat close. NSE cash market volumes were higher by 11% compared to previous trading session. On a weekly basis, Nifty marked its third consecutive week of gains, ending marginally higher by 0.14%,” he said.
Nifty gainers and losers on Thursday, June 25
Within the Nifty pack, Indigo, M&M, and Maruti led the gains, while ONGC, Hindalco, and Power Grid emerged as key laggards.
Sectoral performance remained a mixed bag. Auto, FMCG, and Realty posted the strongest gains, whereas Metal, Oil & Gas, and IT indices bore the brunt of selling pressure and ended in the red, Shah said.
Broader markets underperformed the benchmarks and bucked the overall trend, with both the Nifty Midcap 100 and Nifty Smallcap 100 declining 0.5% each. Market breadth weakened significantly, as reflected in the BSE advance-decline ratio slipping to 0.65, indicating a clear bias toward declining stocks, he added.
Technically, Shah said Nifty has still not been able to overcome the crucial resistance at the previous swing high of 24,190 on closing basis. “The day’s high of 24,261 now emerges as an immediate short-term resistance, and a sustained breakout above this level could pave the way toward the 200-day DEMA, currently placed near 24,440. On the downside, the recent swing low of 23,789 is expected to act as key support,” the analyst concluded.
Sectoral indices on Thursday, June 25
Among sectoral indices on the NSE, Nifty Auto surged more than 2 per cent and emerged as the top gainer. Nifty FMCG rose 0.68 per cent, while Nifty Realty gained 0.33 per cent.
On the losing side, Nifty IT declined 0.86 per cent, Nifty Media fell 0.63 per cent, Nifty Metal dropped 1.37 per cent and Nifty Oil & Gas slipped 0.87 per cent.
(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.)
