Indian stock market: Indian equities saw strong buying interest in Friday’s session on June 12, driven by optimism that the US and Iran may be nearing a peace agreement that could bring an end to the three-month-long conflict. The prospect of easing geopolitical tensions has also weighed on crude oil prices, pushing them to multi-week lows.
Broad-based buying across sectors lifted the by 2% during the session, marking its strongest single-day advance of 2026 so far. The sharp rally also helped the benchmark index end the week with a gain of 1.14%. The Sensex mirrored the positive momentum, rising 2.3% to close at 75,516, while registering a weekly gain of 1.50%.
Stock market next week
Nifty 50
witnessed a strong recovery during the session, supported by broad-based buying across sectors. The index closed at 23,622, registering a robust gain of 461 points, indicating a sharp improvement in market sentiment and renewed risk appetite among investors also signs of recovery after witnessing strong buying interest from lower levels. The index rebounded sharply and managed to reclaim 20-day EMA short-term resistance zones, indicating that selling pressure is gradually easing.
According to Sumeet Bagadia, Executive Director at Choice Broking, the 23,300–23,100 zone is expected to act as a crucial support area, while immediate resistance is placed around 23,770–24,000. A sustained move above 24,000 could trigger fresh short-covering and pave the way for an extended recovery towards higher levels.
“The momentum indicator RSI is currently placed at 51.25, indicating a gradual improvement in market strength and a shift towards positive momentum. With RSI moving above the crucial 50 mark, buying interest appears to be strengthening.
India VIX declined by 5.73% to close at 14.7175, indicating easing volatility and reduced risk perception among market participants. In the derivatives segment, significant call writing was observed at the 23,700 strike, followed by the 23,800 strike. On the put side, notable writing was seen at the 23,500 and 23,400 strike levels,” Bagadia said.
Bank Nifty
Bank Nifty opened on a strong note and witnessed sustained buying interest throughout the session, resulting in a sharp upward move. The index eventually settled at 56,814, gaining 1,638 points, reflecting strong participation across the banking space and a significant improvement in market sentiment. The strong close near the day’s high suggests that bulls remained firmly in control throughout the session.
On the Bank Nifty outlook, Bagadia added that the 56,500–56,000 zone is expected to act as an immediate support area for the index, as substantial put writing was observed at these strike levels, indicating strong support creation by market participants. On the upside, the 57,000 strike witnessed significant call writing and is likely to act as an immediate resistance zone in the near term.
“The momentum indicator RSI is currently placed at 65.37, reflecting strong bullish momentum and healthy price strength. With RSI comfortably above the 60 mark, the index continues to remain in a positive trend structure. In the derivatives segment, aggressive put writing at lower strikes and concentrated call writing at 57,000 suggest a near-term trading range of 56,000–57,000. Traders may continue to maintain a positive bias as long as the index sustains above its support zone, while a decisive breakout above 57,000 could trigger further upside momentum in the coming sessions,” he said.
Stocks to buy
Sumeet Bagadia has recommended three on Monday, 15 June. The three stock picks by Bagadia are – IDFC First Bank, NMDC, and Suzlon Energy.
1] IDFC First Bank: Buy at ₹76.50 | Target Price: ₹83 | Stop Loss: ₹73
2] NMDC: Buy at ₹90.93 | Target Price: ₹99 | Stop Loss: ₹86.80
3] Suzlon Energy: Buy at ₹55.08 | Target Price: ₹60.50 | Stop Loss: ₹52.50
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.