NIFTY 24th JUNE EOD ANALYSIS CLOSE PRICE 25044.

NIFTY 24^th JUNE EOD ANALYSIS CLOSE PRICE 25044.

U.S. stock index futures rose on Tuesday as President Donald Trump announced a ceasefire between Israel and Iran, bringing investors some relief after 12 days of conflict in the Middle East hurt global risk assets and fanned inflation concerns.

Oil prices dropped to their lowest levels in two weeks as supply concerns triggered by the war eased, pulling down U.S. energy stocks in premarket trade. Chevron and Exxon were down 1% and 1.7%, respectively.

Defense stocks Lockheed Martin and RTX Corp dipped about 1.6% each.

Trump's call for truce was a sharp turnaround after the U.S. bombed Iran's nuclear sites over the weekend and Iran retaliated by firing missiles at a U.S. base in Qatar.

Nifty has closed above the euphoric level of 25000 but failed to sustain above recent swing top of 25223 even after hitting intra-day high of 25317.70. The investors took a cautious stance mid-day time as geopolitical uncertainty intensify and profit booking crept in. Nifty witnessed a volatile session today as it opened gap-up at 25180, marked high of 25317 then dipped below 25k mark and closed at 25071.

Now Nifty will have a resistance at 25320 to close above and the ultimate target we can expect is 25750. An immediate support would be at 24950 for tomorrow.

After a roller coaster activity, the Nifty ends 72 points higher, while the Sensex was up by 158 points. Among sectors, the PSU Bank index gained the most, rallying 1.40 percent, whereas the Defense index lost the most, shed 2.35 percent. Technically, on the backdrop of strong global sentiment, our market opened with a gap up, but once again, it registered selling pressure at higher levels. From the day's highest level, the market corrected over 300/1000 points. It also formed a bearish candle on the daily charts, indicating temporary weakness. However, the medium-term outlook of the market remains positive.

Adani Ports, Tata Steel,Kotak Mahindra Bank, Ultratech Cement, and Bajaj Finserv were among the top five gainers on the indices. On the other hand, Power Grid Corp, Trent, NTPC, Maruti Suzuki India, and HCL Tech were among top five losers, falling up to 1.5%.

Gold dropped more than 1% to touch a two-week low on Tuesday, after U.S. President Donald Trump's announcement of a ceasefire between Israel and Iran diminished bullion's safe-haven appeal.

Today’ Consumer confidence data in US and Fed Chairperson Powel’s speech will direct US market and our market opening direction tomorrow.