Benchmark indices Nifty and Sensex are poised for a positive start on Wednesday, June 25, as the ceasefire between Israel and Iran appears to be stabilising after brief violations from both sides. At 7:40 am, Gift Nifty was trading 100 points higher at 25,179, indicating a firm open.

Global cues are supportive—U.S. markets closed higher and oil prices tumbled 6 percent to a two-week low, as easing geopolitical tensions reduced fears of supply disruptions from the Middle East.

In the previous session, benchmarks erased almost all gains to end marginally higher after fears resurfaced as the two nations violated the ceasefire just hours after agreeing to one. Amidst news of ceasefire violation between Israel and Iran, FIIs net sold Rs 5,266 crore, the biggest one-day selloff in June.

Here are the key levels to watch out for on June 25

A close above 25,200 - 25,250 is crucial to unlock further upside towards 25,500. On the downside, strong support at 24,700–24,750 continues to cushion declines, keeping the broader trend constructive. The index also remains above its 10- and 20-day exponential moving averages, reinforcing the bullish setup. However, the emergence of a bearish candlestick with an upper shadow on the daily chart signals persistent selling at higher levels. Until the index breaks out of this range, directional clarity may remain elusive. A breach below 24,700 could weaken sentiment, but dips are likely to find buying support for now.

"From a technical standpoint, the Bank Nifty index remains well-supported by the short-term moving averages—specifically the 10-day and 20-day exponential moving averages—providing further affirmation of the prevailing bullish bias. Nonetheless, the index’s ability to maintain its footing above the 56,000–55,500 support zone reflects steady accumulation at lower levels. A firm and convincing close above the 57,000 mark could reignite bullish sentiment and potentially propel the index toward the 57,500–57,700 zone. Until the 55,500 level is decisively breached, any declines are likely to present fresh buying opportunities," Dhupesh Dhameja of SAMCO Securities said.

India VIX remained subdued, sliding 2.88 percent lower to close at 13.64. Importantly, the volatility index continues to hover below the crucial 15 mark, indicating calm sentiment in the broader market. The sustained low levels of VIX reflect declining fear and growing investor confidence, typically supportive of a continuation of the uptrend.

The Put-Call Ratio (PCR) has dipped to 0.80 from the previous 1.01, suggesting a tilt toward call writing and a mildly bearish undertone. Meanwhile, the Max Pain point is positioned at 24,800, implying a potential magnetic pull toward this level as expiry approaches.