Trade Setup For June 13: Bears In Control Below 25,000, Nifty Support At 24,600 Crucial
Nifty slips below key levels as selling pressure mounts; recovery hinges on 24,600 support.

The NSE Nifty 50 extended losses for the second straight session on Thursday, breaching its immediate support to end sharply lower at 24,888.20, down 253.20 points, amid broad-based selling.
According to Aditya Gaggar, Director of Progressive Shares, a late afternoon selloff dragged the index further, with Realty and Energy stocks leading the decline. Mid- and small-cap stocks also underperformed, falling more than 1.5% each.
On the daily chart, the index formed a strong bearish candle but managed to defend its 21-day moving average. “A sustained move below the 21DMA may drag the Nifty down to 24,700, while 25,080 will act as a strong barrier on the upside,” Gaggar said. He pegged immediate support at 24,830.
Bajaj Broking said the index ended the weekly expiry session 1% lower, forming a bearish candle with a lower high and low, indicating profit-taking from the 25,200 level.
“It breached the support at 25,000 to hit an intraday low of 24,825. Key support lies at 24,600–24,700, aligning with the 20-day exponential moving average and a rising trendline. Holding above this band may keep the broader uptrend intact, with resistance at 25,300 and 25,500,” the brokerage said.
Rajesh Bhosale, equity technical analyst at Angel One, said the technical structure remains largely unchanged, with the Nifty forming a third consecutive narrow-range candle.
“The RSI Smoothened remains near the overbought zone around 75, which explains the lack of strong follow-through. The 25,000–25,300 band is still key, marking a gap support at the lower end and the 78.6% retracement resistance at the upper end,” he said. Bhosale advised avoiding momentum trades and entering on dips.
Market Recap
Benchmark indices slumped on Thursday, ending sharply lower after a volatile session.
The NSE Nifty 50 declined 253.2 points, or 1.01%, to close at 24,888.20, while the BSE Sensex dropped 823.16 points, or 1%, to settle at 81,691.98.
Both indices opened on a muted note and moved in a narrow range through most of the day. However, a sharp selloff in the final hour dragged the Nifty down 1.25%, or 315.50 points, to the day’s low of 24,825.90. The Sensex also slipped 1.20%, or 991.98 points, to hit an intraday low of 81,523.16.







Currency Update
The Indian rupee snapped its five-day winning streak on Thursday, ending 8 paise lower at 85.60 against the US dollar, compared to 85.52 in the previous session.
The US Dollar Index also slipped, falling as much as 0.66% to 97.99, near the day’s low. Meanwhile, Brent crude futures dropped nearly 2% during the session and were down 1.05% at $68.71 as of 3:47 p.m.