Outlook: Technical Call of the Day & Top 5 Stocks in Focus for 17th Jun 2025

The Nifty 50 bounced back strongly on June 16, recovering nearly 1% and inching closer to the significant psychological level of 25,000. This upmove came on the back of a positive global market setup, despite lingering geopolitical tensions between Iran and Israel. The index moved above its short-term 10-day and 20-day simple moving averages, as well as the mid-point of the Bollinger Bands—indicating a strengthening trend.

To continue its upward journey, the index needs to decisively cross and sustain above the 25,000 level, which could pave the way for a test of the next key resistance near 25,200. This level remains crucial for a potential extension toward 25,500. On the flip side, the immediate support is seen near 24,700, which also marked Monday’s low.

The Nifty saw an initial phase of volatility but gathered pace as the session progressed, ultimately hitting an intraday high of 24,967 before closing 228 points, or 0.92%, higher at 24,946.5. The daily chart shows the formation of a bullish candle, breaking the short-term trend of lower highs and lower lows. The index took strong support from the 24,450 zone, reinforcing its positive bias.

From a technical standpoint, the next immediate hurdle remains at 25,000. A decisive move above this level may allow the index to revisit the upper band of its current consolidation, which is around 25,200. The broader support zone lies between 24,500 and 24,400, aligning with the 50-day EMA and the lower boundary of the ongoing five-week consolidation channel.

According to options data, the Nifty could encounter resistance within the 25,000–25,200 range in the short term, with support seen between 24,800 and 24,700. The highest Call open interest (OI) stands at the 25,500 strike, followed by the 25,200 and 25,000 levels. Significant Call writing was observed at the 25,300, 25,500, and 25,400 strikes. On the Put side, maximum OI was noted at the 24,000 strike, followed by 24,800 and 24,700, with notable Put writing at 24,800, 24,900, and 24,700 levels.

Bank Nifty also staged a recovery, gaining 0.75% to settle at 55,945—just shy of the 56,000 mark. It printed a bullish candle on the daily chart, reversing the previous four-day bearish pattern of lower highs and lows. The index reclaimed its 20-day Exponential Moving Average (20-DEMA) placed at 55,742 and nearly filled the gap created on June 13. For a continued upmove, it must hold above the 55,750 zone, with potential targets at 56,250 and 56,500. Key support is expected at 55,750, followed by 55,555 levels.

India VIX, the volatility index often referred to as the fear gauge, softened further and dipped below the 15 mark. It ended at 14.84, down 1.61%, which is a mildly bullish signal after recent spikes in volatility.

Among the top-performing Nifty stocks were SBI Life Insurance, UltraTech Cement, Bharat Electronics, HDFC Life, and ONGC. On the flip side, Tata Motors, Dr. Reddy's Laboratories, Adani Ports, and Sun Pharma were among the notable laggards. All major sectoral indices closed in the green, with gains of 0.5–1% seen across banking, FMCG, capital goods, consumer durables, IT, metal, realty, and oil & gas sectors.

CGCL - TECHNICAL CALL OF THE DAY

The stock is trading above its key 40 and 100 EMA levels on the daily chart indicating strength in price. It is trading below its 200-EMA levels and is attempting to trade above those levels i.e. 179.51. Once it reclaims those levels and trade above, it will add more strength. As per supertrend indicator, the stock looks positive supported by positive RSI divergence as well.

BUY CGCL CMP 171.35 SL 160.60 TGT 186.00

Top stocks to watch out for 17th Jun

Vishal Megamart:

• According to media sources, Samayat Services LLP, the promoter entity of supermarket chain Vishal Mega Mart Ltd, is likely to offload a 10% equity stake through block deals. The deal size is pegged at Rs 5,057 crore, with the floor price set at Rs 110 per share. Shares of Vishal Mega Mart ended up 0.93% at Rs 124.90 per share. 

Tanla Platforms:

• The Board at its meeting held on 16th June 2025, considered and approved the proposal for buyback of up to 20,00,000 fully paid up equity shares of the company having a face value of Rs 1/- representing up to 1.49 % of the total number of Equity Shares in the existing total paid-up Equity Share capital of the Company, at a price of Rs 875/- per Equity Share (“Buyback Offer Price”), payable in cash for an aggregate amount not exceeding Rs 175 crore. The Buyback Offer Size is at 24.81% and 7.78% of the aggregate paid-up Equity Share capital and free reserves.

Mastek:

• Mastek has been awarded a contract by NHS England to provide NHS board and Senior Information Risk Owner (SIRO) cybersecurity training in partnership with Templar Executives. This training is aimed at NHS Boards and executives to help enhance their understanding of the cyber landscape and build resilience across the healthcare system. 

• The one-year contract, with the option to extend for an additional year, will see Mastek and its partner Templar Executives, deliver tailored cybersecurity training specifically designed for NHS executive Boards and SIROs.

Mphasis:

• MPHASIS announced a strategic partnership with Sixfold, the US and UK-based AI underwriting company redefining how insurers assess risk. As an implementation partner, Mphasis will integrate Sixfold’s AI platform to help insurers accelerate their underwriting process—speeding up submission intake and equipping underwriters with the contextual risk insights they need to make faster, more confident decisions. 

• Designed for Life & Disability, Commercial P&C & Specialty, and Reinsurance, Sixfold reduces review times by more than half and increases Gross Written Premium (GWP) per underwriter by enabling smarter, faster risk selection —without sacrificing accuracy.

Hyundai:

• The company has successfully commenced production of Passenger Vehicle Engines at its Manufacturing Facility ‘Talegaon Plant’ located at MIDC, Talegaon Industrial Area, Phase-II Expansion, Pune – 410 507, Maharashtra, with effect from 16th June 16 2025. 

Published on: Tuesday, June 17, 2025, 10:17 AM IST