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Below the Quote on Technical Market Commentary for June 30th, 2026 By Jatin Gedia - VP, Technical Research Teji Mandi Investment Technologies Pvt Ltd

Nifty closed in the negative for the third consecutive day down -80 points at 23865. It is trading close to the lower end of the 23800 - 24200 range. Multiple support parameters—the 20-day moving average (23700), the 40-day exponential moving average (23815) and the gap area (23660 - 23820) formed on 15th June—are likely to provide support and absorb selling pressure. A breach below this support zone is likely to weaken the structure. For the July series, the 24000 straddle is trading ~700 points; hence, the 23300 - 24700 range is likely for the July series. Sectorally, Pharma , Defence and Healthcare have bullish setups. Metals which have witnessed a decent correction recently and has reached the support zone 12400 - 12500 is poised for a for a rebound over the next few weeks.  

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