# Bulls Tighten Their Grip: Nifty Back Above 24,000 as Falling Crude Sets Up a Higher Open on Thursday

> Cooling Brent crude and easing geopolitical worries point to a green start for Indian markets on June 25. The Nifty closed above 24,000 on Wednesday while the Sensex jumped more than 1%.

**Type:** article · **Category:** Market · **Published:** 2026-06-24 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/market/teji-ke-snketa-nifty-phira-24-000-ke-para-crude-men-narami-se-bajara-ko-sahara-guruvara-ko-majabuta-shuruata-ki-ummida-2789 · **Language:** English
**Tags:** Stock Market, Nifty 50, Sensex, Bank Nifty, Brent Crude, Market Outlook, Bajaj Broking Research

Indian equities look set for a cheerful Thursday, June 25. Softer crude oil prices, easing geopolitical worries and a steadily improving mood among investors could push the benchmark indices to open in the green. After Wednesday's broad-based rally, domestic investors are likely to hunt for sector-specific opportunities, even as the market keeps one eye on the situation in the Middle East and the direction of crude oil prices.

On June 24, Indian shares finished firmly higher. The NSE Nifty 50 once again reclaimed the all-important 24,000 mark, while the BSE Sensex leapt more than 1%. A drop in Brent crude eased inflation fears and revived risk appetite, sparking buying across almost every sector.

By the closing bell, the Nifty 50 was up 0.83% at 24,021, while the Sensex climbed 1.04% to settle at 76,991.

## Crude Relief Lifts the Mood
According to Siddhartha Khemka, Head of Research, Wealth Management, at Motilal Oswal Financial Services Ltd, fresh buying and lower energy prices could help Indian markets regain their positive momentum. "Brent crude is at US$76/bbl remaining near four-month, as vessel movement through the Strait of Hormuz is witnessing steady improvement," he said.

## Where the Nifty Stands Technically
Bajaj Broking Research notes that the Nifty staged a strong rebound on Wednesday and closed comfortably above the psychologically important 24,000 level. On the daily chart, the index formed a bullish piercing line candlestick pattern, a sign of strong buying demand near the support zone around 23,800.

That support area matters because it lines up with the previous gap zone and the confluence of the 20-day and 50-day exponential moving averages (EMAs), making it a key level for traders and investors alike.

"Nifty managed to hold above the support area of 23,800 and witnessed a pullback in today's session. Going ahead, bias remain positive and index to head higher towards last week high of 24,190 levels in the coming session. Dips if any towards 23,900 should be used as a buying opportunity," the brokerage said.

It believes the broader trend stays constructive as long as the index holds above its key support levels. Immediate support sits around 23,900, while firmer short-term support lies in the 23,500 to 23,600 band, which marks the recent breakout area and an important retracement level of the previous pullback.

On the way up, the next major resistance is pegged near 24,600, a level that coincides with the April high and the 200-day EMA.

## Bank Nifty Shows Real Strength
Bank Nifty too packed plenty of punch on Wednesday. The index formed a bullish engulfing candlestick pattern, underlining robust buying demand around the 57,000 mark. Crucially, it not only clawed back the previous session's losses but also closed above last week's high of 58,021, signalling strength in the banking pack.

"Going ahead bias remain positive and index to gradually head towards 59,200 levels in the coming sessions being the measuring implication of the recent range breakout and the 138.2% external retracement of the previous decline 57456-52783," the brokerage added.

Technical indicators back up this upbeat view. The lows clocked near 57,000 over the past two weeks remain a crucial support zone, and the index is expected to keep its bullish bias as long as it holds above that level. On top of that, the daily 14-period RSI is still trending up and has bounced after taking support near its nine-period average.

## What this means for you
- **For investors:** With the Nifty holding above 24,000 and crude cooling off, the near-term trend is bullish, keeping the mood favourable for equity buyers.
- **For everyday readers:** Brent crude staying near a four-month low could ease some of the pressure on inflation.

## Questions & Answers

### 1. Where did the Nifty and Sensex close on June 24?
The Nifty 50 ended up 0.83% at 24,021 and the Sensex rose 1.04% to 76,991.

### 2. What is driving the rally in the market?
Cooling crude oil prices, easing geopolitical worries and an improving investor mood are supporting the upbeat trend.

### 3. Where is Brent crude trading right now?
Brent crude is at US$76/bbl, staying near a four-month low.

### 4. What are the key support and resistance levels for the Nifty?
Immediate support is around 23,900 with firmer support in the 23,500 to 23,600 band, while the next major resistance is near 24,600.

### 5. What is the next target stated for Bank Nifty?
Bajaj Broking Research says Bank Nifty could gradually head towards 59,200 in the coming sessions.

### 6. What strategy is suggested for traders on dips?
The brokerage suggests using any dip towards 23,900 as a buying opportunity.

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