Nifty ended on a mildly negative note on 11th June 2026, closing at 23,161.60, down 53.35 points or 0.23%, amid profit booking after a strong intraday recovery. The index opened with a sharp gap-down at 23,104.40 and touched an intraday low of 23,072.05 before recovering sharply to an intraday high of 23,327.45. Technically, the formation of an inverted hammer-like candlestick pattern indicates buying support at lower levels, though rejection near higher levels continues to persist. The RSI stood at 37.86, while India VIX remained stable at 15.61. Immediate support is placed around the 23,000–23,100 zone, while resistance is seen near the 23,600–23,650 range.
Bank Nifty ended on a marginally positive note on 11th June 2026, closing at 55,176.75, up 76.45 points or 0.14%, supported by strong buying interest from lower levels. The index opened with a sharp gap-down at 54,779.65 and touched an intraday low of 54,753.15 before staging a sharp recovery to an intraday high of 55,600.15. Technically, the formation of a bullish candlestick pattern reflects resilience in the banking space and continued buying support near key levels. The RSI stood at 55.24, indicating relatively stronger momentum compared to the broader market. Immediate support is placed around the 54,800–55,000 zone, while resistance is seen near the 56,200–56,500 range.
Foreign Institutional Investors (FIIs) remained net sellers for the 12th consecutive trading session on 11th June 2026, offloading equities worth ₹1,987 crore. However, the pace of selling has moderated over the last few sessions, indicating a gradual easing in foreign outflows. Meanwhile, Domestic Institutional Investors (DIIs) continued to provide strong support to the market, extending their buying streak to the 18th consecutive session with net equity purchases worth ₹4,224 crore, helping offset FII selling pressure and supporting overall market sentiment.
The near-term setup appears favourable as strong Gift Nifty indications and supportive global cues are likely to boost investor sentiment at the opening. Continued domestic institutional buying and resilience in key sectors may provide additional support to the market. However, traders should watch whether the indices can sustain gains above immediate resistance levels, as confirmation of strength at higher levels will be important for extending the ongoing recovery momentum,” says Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.
