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Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

In the Nifty500 pack, 10 stocks crossed their previous 5-year high value at the close on June 21, suggesting bullishness in counters

While the US central bank policy actions do have a bearing on the local policy rates as well, for now, we think RBI’s action will be driven by local macros.

We expect Nifty 50 earnings to grow at a CAGR of 15% over the next two years, providing enough cushion from a valuation perspective in the medium to long term.

Six stocks, including Punjab National Bank, Delta Corp, L&T Finance Holdings, Bharat Heavy Electricals, Hindustan Copper and Hindustan Aeronautics Limited, are under the futures and options ban for trading on June 22, 2023. However, the stocks will be available for trading in the cash market. F&O contracts enter the ban period when open interest exceeds 95% of market-wide position limits and are only reversed if open interest falls below 80%. S&P BSE Sensex and Nifty50 ended positively on June 21, with Nifty expected to reach the milestone of 19,000 and beyond in near future.

The Indian market is expected to consolidate amid mixed global cues, as India VIX increased by 1.44%, while smaller ranges are being seen on the volatility front. The weekly maximum call OI is at 19,000 and the maximum put OI is at 18,800, suggesting a shift in the broader trading range between 18,600 to 19,000 and an immediate trading range of 18,700 to 18,950.

The 200-day daily moving average (DMA) is used as a key indicator by traders for determining the overall trend in a particular stock.

​So, as such also there is so much liquidity chasing stocks. These stocks had some value after the correction they had seen and that is what you have seen. I do not see any reason for these to come off sharply. From here, they should kind of be market performers.

Oil prices were steady in early trading despite a warning of possible interest rate hikes by the US Federal Reserve, which could dampen oil demand. Brent futures were down 0.1% at $77.04 a barrel and US West Texas Intermediate crude futures had slipped 0.1% to $72.48 per barrel at 0015 GMT. However, prices spiked $1 a barrel in the previous session due to expectations of a drop in biofuel blending due to global crop shortfalls driving up prices for corn and soybeans. US crude oil inventories reportedly fell about 1.2 million barrels last week.

Domestic factors like falling inflation, robust tax collection and a stable rupee have supported the rally over the last two months, brokers and analysts said.