Let’s begin with what the cues were overnight. Wall Street saw a strong close, with Dow Jones ending 0.5 percent up, S&P 500 up almost 1 percent, while the Nasdaq continued to march forward.

Nasdaq was up 1.5 percent, led higher by Apple. After it unveiling the Vision Pro last week, the Apple stock has been on the tear. Yesterday as well it hit a fresh all-time high with the market cap of the tech major nearing almost $3 trillion.

That’s not all, we have a lot of data to watch out for this week. Starting with tonight itself. All eyes will be on the US May inflation data where you're expecting 4 percent inflation in May, which would be an increase of 40.1 percent month-on-month. This is extremely important largely because the US Fed meet outcome is contingent on the way.

The Nifty has been ranged around 18,600-mark.The important part is that we found resistance at levels closer to 18,700, whereas support has come in as low as 18550 itself.

Meanwhile, the FIIs sold for the second day in the cash market on Monday and sold around Rs 627 crore. Domestic institutional investors bought around Rs 1800-odd crore. There is nothing really to worry about, but a trend that we have to monitor closely.

Today is also a Tuesday, which means it is the Nifty financial services expiry today. In the last hour, we will watch out for HDFC twins. Watch out for ICICI Bank and Bajaj Fiserv. These stocks account for the major rate on the financial services index.

The Nifty Bank closed mildly below its 20-day moving average of 43980, so that’s a level we expected to cover in the first hour of trade itself. Whereas the Nifty will find firm support at 18454, which is its 20-day moving average.

In terms of stocks to watch out for, keep an eye out on the oil marketing companies and the oil companies as Brent slipped to $72 overnight. But importantly, watch out for Zee as the SEBI has barred Subhash Chandra and Punit Goenka to hold any key managerial position in the company. Does that change things for the Sony-Zee merger or not? It’s something we'll be watching out for.

Tune in to Marketbuzz Podcast for more news and cues ahead of today’s session