18/06/26, Trading Plan for Today

Despite the possibility of near-term consolidation, the market trend is likely to remain positive, supported by healthy technical indicators and continued optimism regarding a potential US-Iran deal, subdued oil prices, and the Federal Reserve maintaining the status quo on interest rates. Hence, according to experts, the Nifty 50 is expected to advance toward the 24,300–24,500 zone going forward, provided it holds above the 24,000 support level. A breach of this support could drag the index down toward the 23,900–23,800 zone, which remains a key support area. Meanwhile, the Bank Nifty needs to decisively clear the 57,800–58,000 resistance zone to move toward the 58,500–59,000 levels. Until then, range-bound trading may continue, with immediate support placed at 56,800.

On June 17, the Nifty 50 climbed 97 points (0.40 percent) to close at 24,086, while the Bank Nifty gained 288 points (0.50 percent) to settle at 57,585. Bulls maintained dominance over market breadth, with about 1,699 shares advancing against 1,309 declining shares on the NSE.

Nifty Outlook and Strategy

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

The benchmark index, Nifty, recently found strong support around the 61.8 percent Fibonacci retracement level of its previous upward rally, followed by a sharp pullback. Notably, from last Thursday's low, the index has rebounded by more than 1,000 points in just five trading sessions, indicating strong buying interest at lower levels. Adding to the positive outlook, the index has confirmed a breakout from a falling wedge pattern on the daily chart, which is typically considered a bullish reversal formation.

Following this breakout, the index has reclaimed its 20-day and 50-day EMAs and is now on the verge of moving above its 100-day EMA, further strengthening the short-term trend. The daily RSI has also delivered a falling channel breakout and has climbed above the 60 mark for the first time since January 2, 2026, signalling improving momentum.

While the trend strength indicator remains below the 20 level and continues to slope downward, the positive crossover, with the +DI positioned above the -DI, reflects underlying strength. Additionally, the MACD histogram points to a steady pickup in upside momentum.

Going forward, the index is expected to maintain its positive trajectory and gradually extend its rally towards 24,300, followed by 24,500 in the short term. On the downside, the 23,850–23,800 zone is likely to act as strong and immediate support, providing a cushion against any near-term pullbacks.

Key Resistance: 24,300, 24,500

Key Support: 23,850, 23,800

Strategy: Buy Nifty Futures on dips between 24,050 and 24,100, with a stop-loss at 23,900 and a target of 24,350.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty remained volatile throughout the day as it faced resistance around the 24,100 level. The broader trend remains positive, with the index sustaining above its 50-day EMA. However, proximity to the previous swing high could keep the index volatile, with intermittent profit booking likely in the near term.

On the downside, 24,000 is expected to act as immediate support. A breach below this level could trigger a correction towards 23,800. Conversely, a decisive move above 24,100 may pave the way for a rally towards 24,300 and beyond.

Key Resistance: 24,100, 24,300

Key Support: 24,000

Strategy: Buy the Nifty 24,000 Put Option (PE) of the June 23 expiry at Rs 114, with a stop-loss at Rs 89 and a target of Rs 160.

Vaishali Patel, Deputy Manager - Research- Technical Department at Jainam

For the Nifty 50 to sustain its ongoing upmove and convincingly move beyond the 24,200 level, a strong momentum breakout supported by broad-based participation will be essential. Until such confirmation emerges, the possibility of consolidation or a short-term pullback cannot be ruled out. From a technical perspective, any healthy retracement is likely to find support in the 23,800–23,600 zone, which coincides with an important demand area.

On the hourly timeframe, the RSI remains above the 70 level but is exhibiting a bearish divergence against price action. This suggests that while the trend remains positive, momentum is not fully confirming the recent highs and may cool off in the near term. Such divergences often precede either a consolidation phase or a shallow corrective move before the next directional trend unfolds.

Key Resistance: 24,200, 24,300

Key Support: 23,800, 23,600

Strategy: Buy Nifty Futures in the 23,950–23,900 zone, with a stop-loss at 23,750 and a target of 24,250.

Bank Nifty - Outlook and Positioning

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

The banking benchmark index, Bank Nifty, has been consistently outperforming the frontline indices over the past couple of weeks. This strength is further validated by the Bank Nifty-to-Nifty ratio chart, which has climbed to a three-month high, clearly indicating sustained outperformance and leadership from the banking sector.

Technically, the index is well-positioned, trading comfortably above its key short- and long-term moving averages, all of which are trending higher. This is a positive sign reflecting a strong underlying uptrend. Momentum indicators continue to support the bullish bias, with the daily RSI sustaining above the 60 mark for the past four sessions while maintaining an upward trajectory. Additionally, the MACD histogram indicates a strong buildup of bullish momentum, reinforcing the positive sentiment.

Given this strong technical setup, Bank Nifty is expected to extend its upward move and test the 58,300 level, followed by 59,000 in the near term. On the downside, the 56,800–56,700 zone is likely to act as immediate and strong support.

Key Resistance: 58,300, 59000

Key Support: 56,800, 56,700

Strategy: Buy Bank Nifty Futures between 57,500 and 57,600, with a stop-loss at 57,000 and a target of 58,700.

Rupak De, Senior Technical Analyst at LKP Securities

The Bank Nifty has recently reclaimed its 200-day moving average (DMA), turning the short-term sentiment positive. However, the index is facing resistance on the daily chart near the beginning of the downward gap formed in early March this year.

The short-term outlook is likely to remain positive as long as the index sustains above 57,000. A decisive move above 57,750 is required to confirm a sustained rally and pave the way for further upside.

Key Resistance: 57,700, 58,000

Key Support: 57,000

Strategy: Buy the Bank Nifty 57,000 Put Option (PE) of the June expiry above Rs 400, with a stop-loss at Rs 330 and a target of Rs 520.

Vaishali Patel, Deputy Manager - Research- Technical Department at Jainam

Bank Nifty continues to exhibit relative strength and remains in a constructive technical setup despite intermittent bouts of profit booking. The index has been consistently finding support during corrections, indicating that buying interest remains intact and that market participants continue to accumulate on declines.

On the daily timeframe, Bank Nifty is trading above its key moving averages, reflecting a positive intermediate-term trend. The recent consolidation appears to be a pause within the broader uptrend rather than a sign of weakness. Price action over the past few sessions suggests that the index is attempting to build a base near its 200-day DMA before its next directional move.

Momentum indicators remain supportive, although the pace of the recent rally has led to some overextension on lower timeframes. Similar to the Nifty, short-term oscillators are showing signs of cooling off, which may result in a period of consolidation or a mild pullback. However, such a move would be considered healthy as long as key support levels remain intact.

Key Resistance: 57,800, 58,200

Key Support: 57,200, 56,800

Strategy: Buy Bank Nifty Futures in the 57,000–56,700 zone, with a stop-loss at 56,000 and a target of 57,900.

Reporting: Sunil Shankar Matkar 

Source: MoneyControl,  Network18 

18/06/26, US & IRAN Deal

 The White House has confirmed that US President Donald Trump signed a memorandum of understanding (MoU) intended to bring an end to the conflict involving Iran, with a White House official telling Reuters that Trump had formally endorsed the agreement.

Trump put his signature to the memorandum of understanding during dinner with French President Emmanuel Macron at the Palace of Versailles following a G7 summit, a US official told AFP.

Trump told reporters the MoU with Iran had been completed and signed at the Palace of Versailles in Paris. Speaking as he departed Versailles, Trump said, “It's signed,” before adding, “I signed it in Versailles,” and later reiterating, “Just signed it.”

Iran also announced on Thursday that the accord with Washington had been concluded. According to Iranian state news agency IRNA, Foreign Ministry spokesman Esmaeil Baqaei said, "The text of the Islamabad Memorandum of Understanding was finalised with the signatures of the presidents -- now it is time to test the implementation of the agreement."

Baqaei stated that the document was signed electronically by the presidents of both countries and explained that a formal ceremony was not considered necessary from Tehran's perspective. He remarked, "When the text is signed by the highest officials of the two countries, violating it will naturally have greater costs, and given our experiences, we preferred this to happen."

His comments came after Swiss authorities had indicated that a signing event would take place on Friday at a luxury mountain hotel overlooking Lake Lucerne. The planned gathering was expected to include Iranian Parliament Speaker Mohammad Bagher Ghalibaf and US Vice President JD Vance.

Providing additional details to Iranian media, Baqaei said negotiating delegations are still expected to meet in Geneva, but the remote execution of the document means no in-person signing ceremony will take place in Switzerland.

He noted that the US naval blockade imposed on Iranian ports had originally been scheduled to end within 30 days in return for Iranian transit concessions in the Strait of Hormuz. However, following what he described as an attack by the "Zionist regime" on Dahiyeh and subsequent Iranian warnings, urgent discussions resulted in Washington moving more quickly than originally planned. According to Baqaei, Iranian vessels are already entering and departing ports without interruption.

He added that Iran's obligations under the agreement will officially begin now that the memorandum has been signed.

Baqaei also said that for Tehran, ending the war in Lebanon and securing a ceasefire carried equal importance to Iranian domestic interests. He stated that Lebanon is referenced three times in the opening clause of the MoU and that the agreement explicitly requires respect for Lebanese territorial integrity and sovereignty.

According to the spokesman, Iran deliberately limited the first phase of negotiations to ending the conflict, while leaving nuclear issues for later discussions. The signed text establishes a strict 60-day negotiating period beginning immediately to address Iran's nuclear programme and sanctions relief, with the possibility of an extension if needed.

He further stressed that Iran's military capabilities are excluded from the process, saying the country's missile arsenal would not be discussed. Baqaei stated that Iran's missiles are only for being fired and not for negotiation, adding that Tehran would not place its defence assets on the agenda with any party.

Speaking separately to Press TV, Baqaei confirmed that the memorandum had been formally endorsed by both sides through electronic signatures.

Meanwhile, Ghalibaf signalled continued distrust of Washington despite progress toward the agreement. According to comments carried by Iran's semi-official Tasnim news agency, he said, "My pessimism and distrust of America is the greatest. Even if the agreement is final and it is approved by the Security Council resolution, it is still not trustworthy at all."

Referring to the strategic waterway linking the Gulf to global markets, Ghalibaf declared, "The US has made the potential of the Strait of Hormuz a reality for us." He added, "Iran has sovereign rights in the Strait of Hormuz, and naturally, we will charge for the services."

He also warned that Iran remained prepared if tensions escalated, stating, "The distance between me and the field of diplomatic struggle is not far from the field of military struggle, and our hand is on the trigger."

Before departing the G7 summit, Trump said the memorandum was effectively complete and could be formalised within 48 hours. "It's in final form," he said, adding that it would be signed "within 48 hours".

Asked where the signing would occur, Trump replied, "We haven't determined yet." He also downplayed the significance of the 60-day timetable, saying, "Just as long as they're behaving, I really don't care that much."

When questioned about the possibility of future military action, Trump said, "If they don't come through, is it a threat that we bomb? You can call it whatever you want, but it'll probably happen."

The US president also indicated that American forces would remain in the Gulf region for the foreseeable future. "Probably a while," he said. "I'd say a little while, see how it all goes."

Baqaei additionally announced that Tehran and Muscat had agreed to create a framework for managing the Strait of Hormuz. According to Tasnim, the two countries would "develop a management mechanism for the Strait of Hormuz" and would "cooperate and consult with other regional countries wherever necessary".

He said maritime traffic would gradually return to normal, explaining, "Regarding the Strait of Hormuz, it has been agreed that maritime traffic will be returned to normal within a specified time." He added, "This is our own responsibility, and only we will carry it out; there will be no need for participation or intervention from other parties."

Baqaei said plans for talks in Geneva remained unchanged and noted that Tehran had been considering whether the presidents of Iran and the United States should personally sign the agreement. Earlier indications suggested Ghalibaf would represent Iran while Vance would attend on behalf of Washington.

At the G7 gathering, Trump repeated that the arrangement would be completed soon, saying, "The deal we reached with Iran on Sunday will be signed shortly, tomorrow (Thursday), maybe the next day (Friday)." He added, "We are going to most likely sign a deal."

Senior US officials subsequently released what they described as the text of the memorandum. The document contains provisions concerning Iran's enriched uranium stockpile, sanctions relief, oil exports and a reconstruction and economic development initiative valued at no less than $300 billion.

According to US officials, Tehran agreed to dilute its enriched uranium reserves. One official said, "The fact that they're conceding to that is a major, major win for the United States of America."

Officials said the arrangement would involve at minimum "down blending on site under the supervision of the IAEA", reducing enrichment levels and radioactivity by combining highly enriched uranium with depleted uranium. A senior official stated, "They're saying we will destroy the enriched stockpile, and this is how we're going to do it at a minimum."

The agreement provides for a 60-day period of negotiations aimed at achieving a broader settlement. Iranian oil exports would resume after the accord is signed and the Strait of Hormuz reopens, while wider sanctions relief would depend on a comprehensive agreement being reached.

The text also outlines a reconstruction and economic development package worth at least $300 billion following the war launched by Israel and the United States on February 29. It states that Washington "undertakes with regional partners to develop a definitive mutually agreed plan with at least $300 billion for the reconstruction and economic development of the Islamic Republic of Iran".

US officials emphasised that the wording does not obligate direct American financial contributions. One official said, "Note that it doesn't require us to do anything...to ever pay a cent of money to the Iranians, to ever contribute money to this reconstruction fund." The official added, "What it says is that if we get to a final deal and if the Iranians behave, we will permit the sanctions relief that would allow, for example, the Emiratis to build a power plant in Iran."

Officials also said Iran had already begun relaxing restrictions on shipping through the Strait of Hormuz and confirmed that sanctions relief would start once the memorandum formally takes effect. Negotiations scheduled in Switzerland are expected to focus initially on nuclear issues, with discussions regarding regional proxy groups and missile programmes planned for a later stage.

Trump again warned of possible military action, saying, "If they are not behaving they will be hit again. They don't want to get bombed, they don't want to get hit."

US officials said Israel had received a copy of the agreement. The draft additionally includes provisions concerning Lebanon's territorial integrity following Israel's invasion and guarantees toll-free passage through the Strait of Hormuz for 60 days, while leaving open the possibility that transit charges could be imposed afterwards.

Source:Network18

18/06/26, NSE IPO

The long-awaited initial public offering (IPO) of the National Stock Exchange (NSE) has finally taken off. The country's largest stock exchange filed its 614-page draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and the BSE on Wednesday. The shares will be listed on BSE, just as BSE's own shares are listed on NSE.

The IPO is entirely an offer for sale (OFS), with existing shareholders collectively divesting around 6 percent of the exchange's equity. Based on the NSE's unlisted market valuation of around Rs 5 lakh crore, market participants estimate the issue size at approximately Rs 30,000 crore, making it one of the largest IPOs in India's capital markets since the Hyundai Motor India IPO of around Rs 27,000 crore in 2024.

Notably, the country's largest insurer and an existing shareholder in the exchange, Life Insurance Corporation of India (LIC), is not among the selling shareholders under the proposed share sale structure.

BOB, GIC, NIC. Mauritius-based shareholders among sellers

As per the list of selling shareholders, State Bank of India (SBI) is the largest selling shareholder, offering up to 24.75 million shares. MS Strategic (Mauritius) Limited will divest up to 16 million shares, while Canada Pension Plan Investment Board has offered up to 11.87 million shares in OFS.

Other sellers include Aranda Investments (Mauritius) Pte. Ltd., which has offered to sell up to 11.24 million shares, while Bank of Baroda and Stock Holding Corporation of India Ltd. have offered around 11 million shares each. PSU insurers General Insurance Corporation of India (GIC Re) is selling up to 10.65 million shares and The New India Assurance Company Ltd up to 10.5 million shares. National Insurance Company Ltd. and United India Insurance Company Ltd. are each divesting around 6 million shares.

Before the filing, the IPO committee of the exchange met today to conclude the IPO filing process. NSE's board had cleared the DRHP on Monday.

NSE's board approved the proposed IPO on February 6 after the exchange received a No Objection Certificate (NOC) from SEBI in January 2026, clearing the way for its much-awaited listing. The regulator's clearance was significant as it was delinked from the settlement of some long-pending cases linked largely to alleged regulatory violations around co-location.

Listing was stalled since 2016

The DRHP filing would mark a major milestone for India's largest stock exchange, whose listing plans have remained stalled for nearly a decade owing to regulatory concerns, particularly those arising from the co-location controversy. NSE currently has nearly 1.8 lakh shareholders.

The exchange had first filed draft offer documents in 2016 for an OFS of around Rs 10,000 crore. However, SEBI subsequently advised it to withdraw the proposal amid governance concerns linked to the co-location issue.

Since then NSE has undertaken several governance and compliance reforms and made multiple representations to the regulator seeking approval for its listing. As part of its latest IPO preparations, the exchange appointed 20 merchant bankers along with legal advisers and other intermediaries.

Settlement Application

NSE had filed a settlement application on June 20, 2025, in the co-location case, in which certain brokers were accused of receiving preferential access to the exchange's trading systems. The exchange subsequently offered to pay Rs 1,387.39 crore to settle the matter.

Earlier, Moneycontrol had reported that SEBI's High-Powered Advisory Committee (HPAC) had recommended settlement of the case for around Rs 1,880 crore, including approximately Rs 1,200 crore towards disgorgement, about Rs 380 crore as interest, and the remaining amount towards other settlement charges. The recommendation is understood to be pending consideration by SEBI's panel of Whole-Time Members.

Report by Brajesh Kumar 

Source:MoneyControl, Network18 

18/06/26, Rupee Strengthens

The rupee attracts attention only when it falls sharply. Between March and May 2026, it weakened by nearly `6 against the US dollar as oil prices rose and foreign investors pulled money out of India. The decline triggered headlines, television debates, and warnings from economists. Now, with oil prices falling below $85 a barrel after the US-Iran peace deal, the rupee is expected to stabilise and perhaps regain some ground. As that happens, the debate will fade.

But the real issue is not the latest rise or fall in the exchange rate. It is the rupee’s long-term decline. In 1991, one US dollar bought about Rs 23. By 2006, it bought Rs 46. By mid-2025, the rate was around Rs 85, rising to about Rs 90 in early 2026 and nearly Rs 95 today. Short-term swings dominate the news, but the steady loss of the rupee’s value over decades has far greater consequences for India’s economy.

A weaker rupee makes essential imports such as oil, electronics, fertilisers, and machinery expensive, driving up inflation and reducing purchasing power. Contrary to what many economists suggest, exporters often do not benefit from a weaker rupee as foreign buyers negotiate lower dollar prices for the same goods.

Poor households bear the greatest burden as higher fuel, transport, and food costs squeeze their budgets. Over time, currency depreciation also increases the cost of foreign debt, undermines investor confidence, slows economic growth, and weakens government finances through lower tax revenues .’

How should the government and the Reserve Bank of India (RBI) respond? With the rupee falling faster than usual like in the past few months, the RBI may sell dollars from its reserves, attract dollar deposits, and take steps to discourage speculative bets against the rupee. However, lasting rupee stability will require deeper structural reforms. We propose six actions.

Ensure stable crude oil supplies. About 50% of India’s oil imports pass through the Strait of Hormuz, which remains a conflict zone despite the recently announced US-Iran deal, while nearly 30% of imports last year came from Russia, which faces US sanctions pressure. Since India imports almost 90% of its oil, any disruption in global supplies poses serious risks to the economy. India should therefore sign long-term oil supply agreements with reliable partners such as Russia, ignoring the US pressure, build larger strategic oil reserves when prices are low, and increase domestic oil and gas exploration.

Push manufacturing and exports. In FY26, India’s merchandise imports reached $775 billion. It is expected to cross $950 billion this year. The only way to balance the high import bill is through expanding manufacturing in electronics, machinery, energy equipment, and industrial inputs, which will also increase exports and improve India’s long-term economic stability. Our balance-of-payments woes will largely disappear if our merchandise exports increase from $445 billion to $800 billion.

An important condition for becoming a manufacturing hub and attracting capital is improving ease of doing business and reducing manufacturing costs. Global companies compare financing costs, power tariffs, logistics, infrastructure, and regulatory efficiency before deciding where to set up factories. Despite lower wages, India often remains a high-cost manufacturing destination due to high financing costs, logistics costs, and regulatory delays. India also needs a transparent and predictable policy environment in which businesses can compete freely without perceptions of special treatment or policy uncertainty.

Invest in artificial intelligence (AI) infrastructure, semiconductors, and deep-tech innovation to attract the large global capital now flowing into the AI sector. India’s progress remains limited mainly to a few startups. We need to invest in a new set of entrepreneurs as most large Indian IT firms that have the scale and resources to compete do not look interested in cutting-edge AI development.

Focus on quality FPI flows. Foreign portfolio investment (FPI) is often called “hot money” because it can enter a country quickly when US interest rates are low and leave just as quickly when they rise. India should focus on attracting more stable, long-term investors rather than relying heavily on short-term capital flows. China offers a useful example. It closely monitors foreign portfolio flows and retains the ability to intervene when needed, while encouraging long-term investment. India does not need to copy China’s controls, but it can place greater emphasis on financial stability and reduce its dependence on volatile portfolio flows.

Reconsider trade deal with the United States, as it would require India to buy $500 billion in American goods over five years. Such large additional imports would increase dollar outflows and sharply erode INR value.

The current fall in the rupee is unusual because India is facing pressure from both trade and capital flows at the same time. In the past, strong foreign investment often offset large trade deficits and helped support the currency. Oil prices have risen from about $72 per barrel in February to nearly $110 in May, increasing India’s import bill and demand for dollars for few months.

At the same time, foreign investors have withdrawn around $53 billion since late 2024, while net foreign direct investment flows have turned negative. Concerns about slower economic growth and high US interest rates leading to more attractive returns on US assets have further weakened investor confidence.

Lasting rupee stability cannot come from short-term interventions alone. India needs deeper reforms that strengthen energy security, manufacturing, exports, and technology. A stronger economic foundation will reduce dependence on imports, make India more resilient to global shocks, and strengthen investor confidence in the India growth story.

By Ajay Srivastava, Founder, Global Trade Research Initiative

Disclaimer: The views expressed are the author’s own and do not reflect the official policy or position of Financial Express.

18/06/26, India Needs

India needs around 10 GWh of battery energy storage capacity immediately to prevent renewable energy curtailment caused by the operational limits of coal-fired power plants, according to a new analysis by energy think tank Ember, which warned that the country’s rapidly expanding solar fleet is beginning to outpace the grid’s flexibility.

The report estimates that 2.1 terawatt-hours (TWh) of renewable electricity was curtailed in FY26 solely to keep coal plants operating above their minimum technical load (MTL), equivalent to 1.3% of India's total renewable generation and about ₹629 crore worth of foregone electricity.

The findings come as India adds solar capacity at a record pace. The country installed around 24 GW of solar capacity between October 2025 and April 2026, taking total installed solar capacity to nearly 154 GW. During this period, solar and wind generation increasingly pushed coal plants towards their technical operating floor of around 55% of rated capacity, beyond which they cannot safely reduce output.

“Solar and wind curtailment is becoming a visible part of India’s real-time grid balancing, and the volumes are already noticeable and rising. Without sufficient flexibility, including storage, this could become a constraint on the next phase of renewable energy growth,” said Neshwin Rodrigues, Senior Energy Analyst at Ember.

Midday Squeeze

The report highlights the growing mismatch between India’s renewable expansion and the flexibility available in the conventional fleet. On March 6, 2026, solar and wind accounted for 41% of the country’s generation mix at midday, forcing coal generation to decline by nearly 49 GW within six hours before ramping up by 51 GW in just three hours during the evening demand surge.

By April 2026, coal generation had breached its minimum technical load in more than half of all midday dispatch intervals, leaving little room for further downward regulation. As a result, renewable curtailment accounted for 37% of total down-regulation requirements in April 2026, compared with almost zero a year earlier.

“This is curtailment required purely to keep coal plants at their MTL. Before the system even considers reserve requirements or grid constraints, renewable generation is being cut simply to make space for coal to remain operable. The constraint is structural,” Rodrigues said.

According to Ember, emergency TRAS-down curtailment of solar and wind generation has crossed 3,600 GWh by early June 2026, up from near-zero levels in mid-2025. Since March this year alone, more than 1,400 GWh of additional curtailment has been recorded, while renewable curtailment exceeded 120 GWh on both May 1 and May 3.

The report noted that coal continues to provide almost all of India’s balancing reserves. In March 2026, coal supplied 1,351 MU out of 1,364 MU of regulation-up reserves and 1,984 MU out of 2,395 MU of regulation-down reserves, underscoring the heavy reliance on thermal plants for grid balancing.

Ember estimates that around 9-10 GWh of battery storage charging during midday solar hours would have been sufficient to absorb surplus renewable generation, keep coal above its technical minimum and eliminate most curtailment witnessed during FY26.

Overcoming Regulatory Bottlenecks

The report cited the 3.37 GWh Khavda battery project in Gujarat, commissioned within 10 months, as evidence that deployment timelines are not the challenge. Instead, it said grid connectivity regulations restricting battery charging from the grid are emerging as the key bottleneck.

“The current framework has the default the wrong way around. It restricts the very operation that would help the system most. Correcting it would allow storage to charge when it reduces curtailment, lowers system stress, and improves flexibility,” Rodrigues said.

Source: Financial Express 

17/06/26, PostMarket REPORT

The benchmark equity indices Sensex and Nifty extended their winning streak to the fourth consecutive session on Wednesday, supported by favourable global cues and sustained buying across sectors.

After a positive start, the Nifty traded in a narrow range for most of the session, although the overall bias remained positive. The index crossed the 24,000 mark and settled at 24,085.70, up 96.55 points or 0.4 percent. During the day, it advanced 119.05 points or 0.49 percent to 24,108.20.

The Sensex climbed 347.14 points or 0.45 percent to settle at 77,155.62. In intra-day trade, it jumped 410.51 points or 0.53 percent to 77,218.99.

The investors are now tracking whether the benchmarks can sustain the recovery after the four-day rally.

Ajit Mishra, SVP-Research at Religare Broking, said the Nifty has reclaimed the psychological 24,000 mark and is now approaching the 100-day exponential moving average near the 24,150 level.

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A sustained move above this zone could pave the way for an extension towards the 24,500 mark in the near term," he said.

On the downside, the 23,800-23,900 region is expected to provide immediate support in the event of profit booking, followed by the 23,650 level as the next key support, he added.

According to market analysts, the immediate resistance for the Nifty is placed in the 24,230-24,250 zone. A sustained move above this range could result in the index extending its pullback towards 24,400, followed by 24,550 in the short term. Immediate support is placed in the 23,950-23,920 zone.

Analysts at Bajaj Broking Research said a follow-through move and a close above the 24,100 level would infuse further momentum and open the upside towards the 24,600 mark in the coming weeks.

Vatsal Bhuva, Technical Analyst at LKP Securities, said Bank Nifty ended the session with a small candlestick formation on the daily chart, indicating a phase of consolidation after the strong rally witnessed in recent sessions.

Despite the short-term pause in momentum, the broader technical structure remains positive as the index continues to sustain above its 200-day moving average, reflecting underlying strength, he said.

"Momentum indicators also support the bullish outlook, with RSI holding above the 60 mark. Positional support is placed at 57,000 and 56,500 levels, while resistance is seen near 57,800. Overall, the prevailing trend remains constructive, and a buy-on-dips approach can be considered," Bhuva added.

Meanwhile, sectoral participation remained broadly positive, with metal, energy and IT stocks leading the gains, while auto and realty shares witnessed some profit booking following their recent outperformance.

The broader market also participated in the upmove, with midcap and smallcap indices advancing between 0.52 percent and 0.8 percent, indicating improving market breadth and sustained participation beyond frontline stocks.

Report by Paras Bist 

Source:Network18

17/06/26, Major Changes in Income Tax Returns Filing

Taxpayers filing their income tax returns for Financial Year (FY) 2025-26 (Assessment Year 2026-27) will encounter several changes across the Income Tax Return (ITR) forms this year. From more detailed disclosures on capital gains and trading activities to mandatory reporting of bank balances and additional information for tax deduction claims, the revised forms are designed to align more closely with the tax department's data-driven scrutiny framework.

Tax experts say the changes reflect the government's increasing reliance on data analytics and cross-verification using information available through the Annual Information Statement (AIS), TDS records, brokerage reports and other third-party data sources. As a result, taxpayers may need to exercise greater caution while filing returns, as discrepancies between the return and information already available with the department could trigger notices or scrutiny.

This year's income tax return forms reflect the government's increasing focus on data matching and transparency. Taxpayers should avoid treating return filing as a routine compliance exercise. With more disclosures being sought, accuracy and consistency between the return and information available with the tax department have become more important than ever,” said Shreya Gupta Goyal, Chartered Accountant.

What are the key changes?

The revised ITR forms seek to capture more detailed information from taxpayers, particularly in areas such as capital gains, trading income, bank accounts and tax deduction claims. Here's a look at the key changes across different ITR forms.

ITR-1 (Sahaj)

Income from up to two house properties : One of the key changes in ITR-1 is that taxpayers can now report income from up to two house properties and still use the form. Earlier, taxpayers with income from more than one house property had to move to ITR-2.

LTCG under Section 112A up to Rs 1.25 lakh : Taxpayers earning long-term capital gains from listed equity shares or equity-oriented mutual funds covered under Section 112A can now report such gains in ITR-1, provided the gains do not exceed Rs 1.25 lakh during the financial year.

New fields for secondary address, mobile number and email ID: The form now contains additional fields where taxpayers are needed to provide a secondary address, phone number and email ID.

Overseas pension account: Taxpayers receiving pension income from overseas sources are no longer required to furnish details of their foreign pension accounts in ITR-1.

ITR-2

More detailed capital gains reporting introduced: Taxpayers filing ITR-2 will now be required to provide more detailed information relating to capital gains transactions. Depending on the nature of the asset, details such as date of acquisition, date of transfer, sale consideration, cost of acquisition and applicable tax treatment may need to be disclosed separately.

Separate disclosure for buyback losses added: The form now includes a separate reporting field for losses arising from share buyback transactions.

Earlier, any amount received by shareholders on account of a share buyback was treated as deemed dividend income and taxed according to the individual's applicable income tax slab rate.

However, from April 1, 2026, proceeds received from the buyback of shares will be taxed under the capital gains provisions instead of being treated as deemed dividends.

Foreign asset and foreign income reporting continues: Resident taxpayers holding foreign assets, foreign bank accounts, foreign shares, financial interests outside India or earning foreign income will continue to be required to disclose these details in the return.

Secondary contact details introduced: Similar to ITR-1, taxpayers filing ITR-2 can now provide additional address, mobile number and email details.

ITR-3

Separate disclosure for F&O, intraday, commodity and currency trading: Taxpayers engaged in trading activities will now have to disclose futures and options (F&O), intraday equity trading, commodity trading and currency trading separately.

Simplified auditor disclosure requirements: Certain auditor-related reporting fields have been rationalised in the latest version of ITR-3. The change is expected to reduce the compliance burden for taxpayers whose accounts are subject to tax audit while retaining the essential information required by the department.

Secondary address and contact details added: Taxpayers can now furnish an alternate address, mobile number and email ID in ITR-3.

Enhanced reporting for business and high-value transactions: ITR-3 now seeks more detailed information relating to business operations and certain high-value financial transactions.

ITR-4 (Sugam)

Income from up to two house properties now permitted: Taxpayers opting for the presumptive taxation scheme under Sections 44AD, 44ADA or 44AE can now report income from up to two house properties while continuing to use ITR-4.

LTCG under Section 112A up to Rs 1.25 lakh can be reported: Taxpayers filing ITR-4 can now report long-term capital gains from listed shares and equity-oriented mutual funds up to Rs 1.25 lakh under Section 112A.

Bank balance disclosure as on March 31, 2026 made mandatory: A significant new requirement in ITR-4 is the mandatory disclosure of the balance available in bank accounts as on March 31, 2026.

Overseas pension account details no longer required: Taxpayers filing ITR-4 will no longer be required to provide details of overseas pension accounts. The relaxation reduces reporting requirements and simplifies the filing process for eligible taxpayers receiving pension income from abroad.

“Recently, many taxpayers received notices regarding donations made to political parties for which they claimed a 100 percent deduction, but the political party's registration was subsequently cancelled. To check more details about such donations, a new column is added in the ITR to provide the PAN of that political party,” said Mihir Tanna, Associate Director, S.K. Patodia LLP.

Due date for filing ITR

Due dates for filing Income Tax Returns (ITRs) vary by taxpayer category and income type. Salaried individuals will continue to have the earliest filing deadline, while businesses and audit cases will get additional time.

From this year, the deadline for non-audit business cases or trusts is extended till 31st August. For example, individuals earning income from Futures and Options (F&O) trading have time till August 31 to file their ITR, unlike most salaried taxpayers whose deadline is July 31. The extension is mainly because income from F&O trading is treated as business income under the Income Tax Act.

The date for revised return has also been revised "The window for filing revised returns has been extended, with revised ITR filing between January 2027 to March 2027 on payment of a late fee, ranging from Rs 1,000 for income below Rs 5 lakh to Rs 5,000 above that threshold," said Pranav Sai S, Tax Expert at ClearTax.

Experts say one of the biggest mistakes taxpayers make is assuming that if an income item is not manually entered in the return, it will go undetected. Today, the tax department receives information from banks, mutual funds, brokers, employers and various other reporting entities. A careful review of the return before submission can help prevent unnecessary scrutiny and notices later.

Report by Ayush Mishra

Source:Network18

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