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Below the Quote on Morning Outlook 11th June 2026 from Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited

Indian equity markets are expected to open on a mildly negative note, with Gift Nifty trading around 23,105, down by 75 points, indicating weak opening cues for domestic indices. Global sentiment remains cautious amid uncertainty surrounding key trade negotiations and mixed economic signals from major economies, while geopolitical developments and fluctuations in crude oil prices may keep investors watchful and contribute to near-term market volatility.

Nifty ended on a mildly negative note on 10th June 2026, closing at 23,214.95, down 27.15 points or 0.12%, amid profit booking near higher levels. The index touched an intraday high of 23,425.35 during the first half but failed to sustain gains and slipped towards an intraday low of 23,184.60 in the latter half of the session. Technically, the formation of a gravestone doji-like candlestick pattern indicates rejection from higher levels and reflects cautious market sentiment. The RSI stood at 39.01, while India VIX remained stable at 15.63. Immediate support is placed around the 23,000–23,050 zone, while resistance is seen near the 23,450–23,500 range.

Bank Nifty ended on a mildly negative note on 10th June 2026, closing at 55,100.30, down 94.20 points or 0.17%, as profit booking emerged near higher levels. The index advanced to an intraday high of 55,555.85 during the first half but failed to sustain gains and slipped towards an intraday low of 55,026.15 by the close. Technically, the formation of a gravestone doji candlestick pattern indicates rejection from higher levels and reflects indecisiveness after the recent recovery. The RSI stood at 54.66, suggesting momentum remains relatively stronger despite signs of short-term exhaustion. Immediate support is placed around the 54,500–54,600 zone, while resistance is seen near the 55,500–55,600 range.

Foreign Institutional Investors (FIIs) remained net sellers on 10th June 2026, offloading equities worth Rs2,125 crore, reflecting continued caution among overseas investors. However, Domestic Institutional Investors (DIIs) continued to provide strong support to the market and remained net buyers with equity purchases worth Rs3,124 crore, helping absorb foreign selling pressure and maintain stability in overall market sentiment.

The market appears to be at a crucial juncture, with repeated failure near higher levels indicating a lack of strong bullish conviction. Persistent foreign outflows and weak broader participation may continue to keep sentiment subdued in the near term. However, domestic institutional support and stability around key support zones could help limit downside pressure. A decisive breakout or breakdown from the current range is likely to determine the market’s next directional trend.

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