5 important factors investors should watch this week:Nifty eyes 24,500 as foreign investors return; US-Iran talks in focus

The stock market is expected to be quite volatile in the week starting tomorrow, June 22. Due to Muharram on the 26th, the market will only trade for 4 days. US-Iran tensions, foreign investor buying and selling, and technical factors will determine the market’s direction. Let’s understand what could happen in the market next week Support and Resistance 1. Support Zone: 23,936 | 23,870 | 23,820 | 23,466 | 23,345 | 23,320 Support is the level at which a stock or index finds resistance to further declines. Here, increased buying prevents the price from easily going down. This could be a buying opportunity. 2. Resistance Zone: 24,140 | 24,382 | 24,450 | 24,480 | 24,535 | 24,646 Resistance means the level where a stock or index faces hindrance in moving upwards. This happens due to increased selling. Crossing the resistance zone indicates an expectation of an upward trend. Note: Support and Resistance levels are according to the Wealth View Analytics report. 5 Factors that will determine the market’s direction 1. Tension increased even after the US-Iran peace agreement A 60-day ceasefire was agreed upon to advance talks between the US and Iran, but tension has increased once again. Iran has once again announced on Saturday to close the ‘Strait of Hormuz’. However, the US military called this claim false. Meanwhile, US President Donald Trump said in a social media post that if no agreement is reached with Iran within 60 days, the US may consider imposing tolls in the Strait of Hormuz in the future. This fee would be to cover the expenses incurred on security in the Middle East. Today, Sunday, America and Iran have also arrived in Switzerland for peace talks. The American delegation includes Vice President JD Vance, Special Envoy Steve Witkoff, and Trump’s son-in-law Jared Kushner. Meanwhile, the Iranian delegation is led by Foreign Minister Abbas Araghchi. 2. Sell-off in IT stocks may continue On Friday, the IT sector played the biggest role in the market’s decline. Shares of major companies like Infosys, TCS, Tech Mahindra, and HCL Tech fell by up to 7%. The main reason for this decline is the revenue growth forecast of American consulting company Accenture. Accenture has cut its revenue growth forecast for fiscal year 2026 from 3-5% to 3-4%. Its shares fell by 11%. In such a scenario, a decline in revenue is also expected for Indian IT companies in the coming quarters. This could lead to further falls in IT shares. Additionally, on the technical chart, the IT index has fallen below its short and long-term moving averages, indicating further weakness. For this, the level of 27,05027,000 is an important support, while the zone of 28,25028,300 remains resistance. 3. Return of Foreign Investors to the Market After a long period of selling, Foreign Institutional Investors (FIIs) have once again become net buyers in the Indian market. This week, foreign investors have invested approximately ₹3,400 crore in the market. Along with this, Domestic Institutional Investors (DIIs) bought shares worth ₹7,100 crore. 4. Slight Relief from Rupee Stability Amid fluctuations in the currency market, the rupee closed almost flat at 94.32 against the US dollar on Friday. According to Dhaval Shah, MD of D-Risk Forex Consultancy, the rupee received support from the Reserve Bank’s measures and reduced tensions in the Middle East. 5. Experts’ Opinion and Technical Setup According to Sudeep Shah of SBI Securities, Nifty’s broader trend is still positive as it is trading above its 20-day and 50-day Exponential Moving Averages (EMA). If the market falls, the 23,850-23,800 zone will act as strong support. If Nifty slips below 23,800, it can go down to the 23,500 level. On the upside, the 24,150-24,200 level is the first resistance, crossing which Nifty can reach 24,500. Knowledge Part: What is the ‘Strait of Hormuz’? It is a narrow and extremely important waterway located between the Persian Gulf and the Gulf of Oman. About 20% of the world’s crude oil passes through this route. Gulf countries like Saudi Arabia, Iraq, UAE, and Kuwait depend on this route for their oil exports.