Ahead of Market: 10 things that will decide stock market action on Tuesday

"Markets witnessed a sharp risk-off session on Monday, with benchmark indices ending lower amid weak global cues and renewed geopolitical concerns. After a gap-down start, the Nifty attempted to recover some losses in the first half; however, renewed selling pressure in the latter half dragged the index back toward the day’s low before it eventually settled at 23,123, down 1.04%.

Here's how analysts read the market pulse:

"On the upside, the 23,300–23,600 zone is expected to act as a resistance band. Given the prevailing uncertainty and heightened global volatility, we continue to maintain a cautious stance and prefer a sell-on-rise approach in the index. At the same time, traders should focus on stock-specific opportunities while maintaining strict risk and position management," said Ajit Mishra – SVP, Research, Religare Broking.


US Markets
Wall Street's major indexes advanced on Monday, as chipmakers bounced back from a sharp selloff last week, while investors took comfort from signs of cooling tensions in the Middle East.

Intel shares jumped 8.5%. The Information reported that Alphabet had tapped the company to make 3 million in-house chips, while Nvidia was evaluating their ‌technology.

The S&P 500 tech ⁠sector index ⁠gained 1.9%, while the Philadelphia SE Semiconductor index advanced 4.6%, rebounding from Friday's sharp decline that wiped out $1 trillion in market value for U.S.-listed chipmakers.

Expectations of tighter monetary policy and underwhelming results from Broadcom last week had raised concerns that the sector was growing too fast, prompting traders to retreat after a strong run this year.

European Markets
MSCI's gauge of stocks across the globe rose 0.70 points, or 0.06%, to 1,106.50 while the pan-European STOXX 600 index fell 0.06%.

In energy markets, U.S. crude futures ‌were up 1.42% at $91.83 ⁠a barrel ⁠after earlier trading above $95 a barrel, while Brent was at $94.78 per barrel, up 1.82% on the day, after earlier rising above $98 a barrel.

Tech View
A move above and sustained trading beyond 23,125 could trigger a meaningful recovery towards the 23,250–23,300 zone. On the downside, a breach below 23,070 may invalidate the pattern and drag Nifty below the 23,000 mark.

Most active stocks in terms of turnover
RIL (Rs 2,098 crore), Himadri Speciality (Rs 1,795 crore), HDFC Bank (Rs 1,591 crore), BSE (Rs 1,548 crore), ZEE Entertainment (Rs 1,546 crore), TCS (Rs 1,411 crore) and Wipro (Rs 1,397 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.

Most active stocks in volume terms
Vodafone Idea (Traded shares: 55.19 crore), Ola Electric (Traded shares: 25.45 crore), ZEE (Traded shares: 13.09 crore), YES Bank (Traded shares: 11.77 crore), JP Power (Traded shares: 9.08 share), Suzlon (Traded shares: 7.65) were among the most actively traded stocks in volume terms on BSE.

Stocks showing buying interest
CCL Products, Inox India, Reliance Infra, Caplin Point, Syngene International, Balrampur Chini and Max Healthcare were among the stocks that witnessed strong buying interest from market participants.

52-week high
Among the ones which hit their 52 week highs included CCL Products, Inox India, Aster DM Health, KIMS, Sai Life Sciences and Apollo Hospital.

Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Wipro, Swiggy, JK Cement, RVNL, SBI Card, Coromandel and TCS.

Sentiment meter favours bears
Out of the 4,537 stocks that traded on the BSE on June 8, Monday, 1,181 stocks witnessed advances, 3,192 saw declines while 164 stocks remained unchanged.