Buy or sell stocks: Benchmark equity indices, the Sensex and Nifty 50, snapped their five-day winning run on Friday, June 19, as a steep decline in IT stocks weighed on sentiment after Accenture trimmed its revenue growth forecast.
The closed 607 points, or 0.78%, lower at 76,802.90, while the Nifty 50 fell 154.90 points, or 0.64%, to finish the session at 24,013.10.
Stock market today
Nifty 50
On 19th June 2026, the opened with a gap-down at 23,991.20, reflecting cautious sentiment at the start of the session. The index largely traded in a consolidation range during most part of the session. However, volatility intensified towards the closing hours, resulting in sharp intraday swings. The Nifty first registered its intraday low of 23,901.90 before witnessing a swift recovery to an intraday high of 24,047.20. The index eventually settled at 24,013.10, ending the day with a decline of 154.90 points or 0.64% over the previous close.
According to Sumeet Bagadia, Executive Director at Choice Broking, on the daily timeframe, the formation of a doji-like candlestick pattern indicates indecisiveness among market participants. The pattern reflects a balance between buyers and sellers after the recent up move and suggests that the market may be awaiting fresh triggers for its next directional move.
“From a technical perspective, immediate support is placed in the 23,850–23,900 range, while resistance is observed between 24,100 and 24,150 levels. The Relative Strength Index (RSI) stands at 57.76, indicating that momentum remains positive despite the consolidation witnessed during the session. In the derivatives segment, notable call writing was seen at the 24,000 strike, followed by 24,200, while significant put writing was observed at 24,000 and 23,900 levels, indicating immediate support near the 24,000 zone while resistance remains positioned at higher strikes,” Bagadia said.
Bank Nifty
The index opened with a gap-down at 57,754.95, indicating cautious sentiment in the banking space at the opening bell. The index remained under pressure during the first half and extended its decline into the early part of the second half, where it registered its intraday low of 57,464.55. However, buying interest emerged from lower levels and volatility increased towards the latter part of the session, helping the index recover sharply and register its intraday high of 57,804.90 before settling at 57,685.75. The index ended the day with a decline of 278.05 points or 0.48%.
Bagadia noted that on the daily timeframe, the formation of a small hammer-like candlestick pattern reflects buying support emerging from lower levels. The long lower shadow suggests that buyers remained active near support zones despite weakness during the session.
“From a technical standpoint, immediate support is placed in the 57,300–57,400 range, while resistance is seen in the 58,000–58,100 zone. The Relative Strength Index (RSI) stands at 67.81, indicating strong momentum and continued strength in the banking index despite the corrective move witnessed during the session. Sustaining above immediate support zones will remain important for continuation of the prevailing bullish trend,” he said.
He further advised traders to closely monitor immediate resistance zones, as a sustained move above these levels could strengthen bullish momentum, while support levels continue to act as key demand areas in the near term, as the recent price action suggests a range-bound and volatile trading session with both benchmark indices opening lower and spending most of the day in consolidation.
Volatility increased sharply towards the close, resulting in swift intraday swings across both indices. While Nifty formed a doji-like pattern reflecting indecision, Bank Nifty managed to recover significantly from lower levels and formed a small hammer-like structure, indicating some buying support at lower levels, he added.
Sumeet Bagadia’s stocks to buy
Sumeet Bagadia recommends five shares to buy on Monday, 22 June: Aurobindo Pharma, Supreme Petrochem, Vijaya Diagnostic Centre, CARE Ratings, and Valor Estate.
1] Aurobindo Pharma: Buy at ₹1498, Target ₹1635, Stop Loss ₹1425
Aurobindo Pharma Limited (AUROPHARMA) has broken out from its short-term range consolidation on the daily timeframe, indicating emergence of fresh buying momentum and potential continuation of the prevailing uptrend. The breakout reflects strengthening price action and suggests increasing participation from market participants as the stock moves above its consolidation zone. In addition to this, the momentum indicator RSI has crossed above the midpoint level of 50 and is currently trading around 59.92, indicating improving momentum and a positive shift in market sentiment. The RSI reading above the midpoint reflects strengthening bullish momentum and supports the possibility of further upside movement in the stock. Considering the current technical setup, traders may consider initiating long positions at CMP for a potential upside target of ₹1635, while maintaining a strict stop loss at ₹1425 as part of disciplined risk management.
2] Supreme Petrochem: Buy at ₹750, Target ₹820, Stop Loss ₹715
Supreme Petrochem Limited (SPLPETRO) is moving in an upward direction while forming a higher high–higher low formation in the short term, indicating sustained buying interest and a strong bullish price structure. This pattern reflects strength in the prevailing trend and suggests the possibility of further upside movement in the coming sessions. In addition to this, the stock has broken out above its previous swing high with a noticeable increase in trading volume, indicating strong participation from market participants and validating the strength of the breakout move. The rise in volume adds conviction to the bullish setup and reinforces the positive technical outlook. Considering the current technical setup, traders may consider initiating long positions at CMP for a potential upside target of ₹820, while maintaining a strict stop loss at ₹715 as part of disciplined risk management.
3] Vijaya Diagnostic Centre: Buy at ₹1364, Target ₹1500, Stop Loss ₹1290
Vijaya Diagnostic Centre Limited (VIJAYA) has broken out from a range consolidation pattern on the weekly timeframe, indicating emergence of fresh buying momentum and the potential beginning of a sustained upward move. The breakout on a higher timeframe adds significance to the price action and reflects strengthening bullish sentiment among market participants. In addition to this, the stock has formed a bullish candlestick pattern resembling a Bullish Kicker on the weekly timeframe above the breakout level, indicating strong buying conviction and confirmation of the breakout. The formation of this candlestick pattern suggests that buyers remain firmly in control and reinforces the positive technical outlook for the stock. The technical setup remains firmly supportive of a bullish outlook, where traders may consider initiating long positions at CMP, with a potential upside target of ₹1500, while maintaining a stop loss at ₹1290 to ensure disciplined risk management and a balanced risk-reward profile.
4] CARE Ratings: Buy at ₹1713, Target ₹1890, Stop Loss ₹1625
CARE Ratings Limited (CARERATING) has broken out from a short-term rising wedge pattern on the daily timeframe, indicating strengthening bullish momentum and continuation of the prevailing uptrend. The breakout reflects increasing buying interest and suggests the possibility of further upside movement as the stock moves beyond its recent price consolidation phase. In addition to this, the stock is trading above all its crucial DEMA levels, including the 20, 50, 100, and 200 DEMA levels, indicating strong trend alignment and sustained bullish strength across multiple timeframes. The positioning above these key moving averages highlights the presence of consistent demand at lower levels and reinforces the positive technical structure of the stock. The stock continues to display a constructive technical structure, where traders may consider initiating long positions at CMP, aiming for a potential upside target of ₹1890, while maintaining a stop loss at ₹1625 to preserve a disciplined risk-reward framework.
5] Valor Estate: Buy at ₹118, Target ₹130, Stop Loss ₹112.50
Valor Estate Limited (DBREALTY) had previously formed a hammer-like candlestick pattern on the weekly timeframe and has successfully managed to sustain and trade above the pattern in the current week, indicating emergence of strong buying interest and confirmation of a bullish reversal from lower levels. The ability of the stock to hold above the hammer formation highlights strength in the ongoing price action and reflects improving market sentiment. In addition to this, the stock has taken support from its 20-WEMA level and bounced higher, indicating the presence of strong demand at lower levels and reinforcing the significance of this moving average as an important support zone in the current trend structure. The prevailing technical setup suggests a favorable risk-reward opportunity, where traders may consider initiating long positions at CMP, with a potential upside target of ₹130, while keeping a stop loss at ₹112.50 to effectively manage downside risk.
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.