The Indian stock market ended Monday's session on a positive note, with domestic benchmark indices closing higher. According to reports from Choice Broking, the Sensex gained 291 points, or 0.38%, to finish at 77,094, while the Nifty 50 advanced 90 points, or 0.37%, to close at 24,102.90. The positive momentum was supported by improving investor sentiment amid reports of progress in US-Iran peace negotiations and easing crude oil prices. The Nifty 50 opened with a gap-up of 93.50 points at 24,106.60 compared to the previous close of 24,013.10, reflecting positive sentiment at the start of the session. Latest technical analysis from Tradebulls Securities confirms that Nifty 50 has broken out of its declining channel, with the index showing strong momentum after remaining in a small range throughout the day.
According to Sumeet Bagadia, Executive Director at Choice Broking, the Nifty 50 formed a gravestone doji-like candlestick pattern on the daily timeframe, indicating rejection from higher levels despite ending the day in positive territory. The long upper shadow suggests that sellers became active near higher levels and restricted further upside. Immediate support is placed in the 23,950–24,000 zone, while resistance is observed in the 24,200–24,250 range. The Relative Strength Index (RSI) stands at 59.65, indicating positive momentum and improving market sentiment while remaining below overbought territory. Latest technical analysis from Tradebulls Securities confirms that 23,800 has emerged as key support level for the index, with resistance positioned at 24,150 (100 Day EMA) and 24,200 levels. In the derivatives segment, notable call writing was observed at the 24,100 and 24,200 strikes, while put writing was concentrated at the 24,100 and 24,000 levels.
The Bank Nifty index demonstrated strong performance, opening with a gap-up of 221.15 points at 57,906.90 compared to the previous close of 57,685.75, indicating strength in the banking space. According to Choice Broking, the index eventually settled at 57,935.60, ending the day with a gain of 249.85 points or 0.43%. The Bank Nifty formed a dragonfly doji-like candlestick pattern, indicating strong buying support at lower levels. The sharp recovery from the day's low and close in positive territory suggest that buyers remained active despite intermittent profit booking. Immediate support is placed in the 57,600–57,700 zone, while resistance is observed in the 58,200–58,250 range, with the RSI at 69.14 indicating strong momentum.
Sumeet Bagadia recommends five breakout stocks to buy for Monday, June 23, 2026. Privi Speciality Chemicals is recommended at ₹3656 with a target of ₹4025 and stop loss at ₹3470, showing strong bullish momentum after delivering a breakout above its previous swing high. Mahindra Logistics is suggested at ₹370 with a target of ₹400 and stop loss at ₹354, having broken above its 200-day EMA. Aditya Birla Capital is recommended at ₹392 with a target of ₹425 and stop loss at ₹374, showing improving bullish momentum after breaking above horizontal resistance. Ajanta Pharma is suggested at ₹3190 with a target of ₹3470 and stop loss at ₹3050, exhibiting strong bullish momentum with a sustained higher high-higher low formation. AIA Engineering is recommended at ₹4848 with a target of ₹5230 and stop loss at ₹4650, showing strong bullish momentum after delivering a breakout above its previous swing high.
