Trade Setup for June 11: Nifty needs to sustain above 25,200 to push towards 25,600
Trade Setup for June 11: Nifty needs to sustain above 25,200 to push towards 25,600
Nifty holds above 25,100; a sustained move above 25,200 could lead to 25,600, say analysts. Support seen at 24,900. Market awaits key global cues.
The Nifty 50 extended its winning streak to five days, closing marginally higher at 25,104 on Tuesday. While the session saw choppy and range-bound action, analysts remain optimistic about the index’s near-term trend.
After the sharp rally on June 6, the Nifty has entered a consolidation phase with a positive bias. Both Nifty Midcap and Smallcap indices ended in the green, with the Nifty Smallcap logging its seventh straight session of gains, closing at its highest level since January 3, 2025.
Key Levels to Watch
Analysts suggest that a sustained move above the 25,200 level could trigger the next leg of the rally towards 25,600. Immediate support is pegged at 25,000-24,900.
According to Nagaraj Shetti of HDFC Securities, “Despite short-term volatility, the Nifty’s near-term setup remains bullish. A decisive move above 25,200 could lead to 25,600.” He also identified the key support zone between 25,000 and 24,900.
Rupak De of LKP Securities added that the index remains favorable for long trades above 24,850. “A drop below this could lead to correction, but if Nifty breaks past 25,350, it could open up room for an extended rally,” he noted.
Nandish Shah, also from HDFC Securities, echoed this view: “Positional trend remains positive. Nifty is likely to face resistance at 25,200 before attempting a directional breakout.”
Stock Highlights
Tata Motors climbed another 2%, continuing its positive run after its Annual Investor Day presentation. In contrast, Maruti Suzuki slipped following reports of EV production cuts for its upcoming e-Vitara model, owing to rare earth supply issues.
Institutional Action and Global Cues
On the institutional front, both domestic and foreign investors were net buyers on Monday, with an inflow of ₹5,500 crore providing a cushion to the market.
Traders are also eyeing global cues, including former U.S. President Donald Trump’s upcoming speech, U.S. inflation data due Wednesday, and India’s Consumer Price Index (CPI) release on Thursday, for further market direction.
Market Outlook
Siddhartha Khemka of Motilal Oswal expects markets to remain in consolidation with a positive bias. As long as the index sustains above the support zone, traders can expect a gradual move higher.
