Nifty Outlook for 30 June 2023

Nifty Outlook for 30 June 2023

by Ruchit Jain Last Updated: Jun 30, 2023 - 10:11 am 1k Views

Nifty started the expiry with a gap up and marked a new record high at open. The index continued its momentum throughout the day and even achieved a new milestone of 19000 before ending the day tad below it. 

Nifty Today:

The index finally hit a new record high and the 19000 mark for which the market participants were waiting for. The recent upmove has been supported by a broad market participation which is a positive sign. The 20 DEMA again acted as a support in the correction and the higher top higher bottom structure resumed which hints at a continuation of the trend. FII’s had muted action throughout the June series in the index futures segment, but they formed long positions a day ahead of the June series expiry. These long positions indicate their positive view on the markets for the July series as well and until we see any signs of reversal, traders are advised to continue to trade with the trend. The immediate support for the Nifty index would be seen in the gap area at 18830 while positional support has shifted higher to 18700. On the higher side, the initial hurdle is seen around 19035 followed by 19125 which are retracement resistances on the short term charts. 

                                                                   Nifty hits milestone of 19000 and ends at new record high

Nifty Graph

The Bank Nifty index recently witnessed a time-wise corrective phase in last one month and seems to have resumed its uptrend. Until there’s a failure to this breakout, we expect the banking space to continue its upmove in the short term.


Nifty, Bank Nifty Levels and FINNIFTY Levels:


Nifty Levels

Bank Nifty Levels

           FINNIFTY Levels

Support 1




Support 2




Resistance 1




Resistance 2




Frequently Asked Questions

How do you rate this blog?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Ruchit Jain is Lead Research Analyst at 5paisa. He has a vast experience of 14 years in this field and is proficient in Technical and Derivatives Research. He has completed his CMT (U.S.A.) and has done Masters in the field of Finance at Mumbai University.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.