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Nifty 50 eyes 24,100 and Bank Nifty tests 57,800 as oil slips to $80 a barrel

International crude prices have eased to the $80-a-barrel level on expectations of a potential US-Iran deal and hopes that the Strait of Hormuz could reopen, supporting Indian equities. On June 16, the Nifty 50 rose 135 points to 23,989 and the Bank Nifty gained 98 points to 57,297. Technical analysts said both indices have moved above key moving averages, with bullish MACD/RSI signals pointing to resistance near 24,103 for Nifty and 57,900 for Bank Nifty, alongside defined support zones and a buy-on-dips approach.
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