Nifty Outlook for Expiry day 09 JuneNifty 50 IndexNSE:NIFTYVirupandey81Global markets are trading with a positive bias this morning as geopolitical concerns eased following reports that Iran has suspended its military operations against Israel. Ongoing peace negotiations between the two nations have improved investor sentiment, leading to a rebound across major Asian indices. Gift Nifty is indicating a flat to mildly positive opening, suggesting that the Indian market may start the session on a stable note despite recent weakness in price action. Institutional Activity (Previous Session) FII Net Selling: ₹5,555 Crore DII Net Buying: ₹5,165 Crore Net Institutional Outflow: ₹390 Crore While domestic institutions continued to provide support, foreign investors remained aggressive sellers, reflecting a cautious undertone in the broader market. Technical Outlook Nifty continues to trade within a short-term bearish structure, with price currently positioned below the recent swing high. The market is approaching a critical inflexion point where the next directional move is likely to emerge. The immediate support remains at 23,070, which is a crucial level for the bulls. As long as Nifty holds above this support, a relief rally towards the supply zones of 23,190–23,280 remains possible. For the market structure to shift decisively in favour of buyers, Nifty must reclaim 23,196 and subsequently break above the recent swing high. A successful move above this level would indicate strengthening bullish momentum and could pave the way for an advance towards 23,360, followed by 23,470. On the downside, a sustained break below 23,070 would reinforce the prevailing bearish trend and increase the probability of a decline towards the 22,870 support zone. Market View Today's session is likely to be driven by price action around these key technical levels. While improving global sentiment may support the opening trade, the broader trend remains cautious until Nifty reclaims the recent swing high. Traders should remain focused on the 23,070 support and 23,196 resistance, as a breakout on either side is expected to define the market's next directional move.