Analysis by Mr. Nandish Shah – Deputy Vice President, HDFC Securities
🕗 Last Update: 18 June 2026, 6.00 PM
Nifty Extends Winning Streak to Fifth Session
Nifty extended its rally for the fifth consecutive session, gaining 82 points to close at 24,168. Barring a couple of minor intraday dips, the index remained firm for most of the session, indicating sustained buying momentum.
Among index constituents, Max Healthcare, Indigo, and Adani Enterprises led the gains, while Infosys, Tata Consumer, and Tech Mahindra emerged as the key laggards.
Barring Nifty IT and Metal, all sectoral indices ended in the green, with Healthcare, Financial Services, and Realty emerging as the top-performing sectors.
Broader markets continued their upward trajectory for the fifth straight session, mirroring the strength in the benchmark. The Nifty Midcap 100 and Nifty Smallcap 100 indices gained 0.40% each, while market breadth remained positive with a BSE advance-decline ratio of 1.34.
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The rupee remains lead performer among Asian peers, appreciated by 20 paise to close at 94.33, highest since 08-May 2026, energized by a resurgence of capital inflows and cooling oil prices.
On the currency front, the rupee remained the top performer among Asian peers, appreciating by 20 paise to close at 94.33, its strongest level since May 8, 2026. The move was driven by renewed capital inflows and easing crude oil prices.
Technically, Nifty has closed above the crucial 100 DEMA resistance at 24,153 for the first time since the escalation of the West Asia conflict in February 2026, signaling a meaningful shift in the positional trend and reinforcing the bullish undertone. Following this breakout, Nifty is now poised to rally towards its 200 DEMA, placed near 24462.
On the downside, immediate support has moved higher to the 24,000 marks. Any near-term dip toward this level is likely to attract buying interest, as long as the index holds above it.
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