Nifty 50, Sensex Today: What to expect from Indian Stock Market in Trade on June 4

The Indian Stock Market Benchmark Indices, Sensex and Nifty 50, Are Likely to Open Higher on Wednsday, Tracking Upbeat Global Market Cues.

The trends on gift nifty also indicate a positive start for the Indian Benchmark Index. The gift nifty was trading Around 24,720 level, a Premium of Nearly 45 points from the nifty futures’ Previous Close.

On Tuesday, The Domestic Equity Market Ended Sharply Lower, with the Benchmark Nifty 50 Closing Below 24,600 Level.

The sensex declined 636.24 points, or 0.78%, to close at 80,737.51, while the nifty 50 settled 174.10 points, or 0.70%, lower at 24,542.50.

Here’s what to expect from senses, nifty 50 and bank nifty today:

Sensex prediction

Sensex Slipped Below The 20-Day SMA (Simple Moving Average) or 81,300, and formed a long bearish candle on the daily chart, and on intraday charts, a lower top formation is HOLDING, which is Largelie NEGELY NEGELY NEGELY NEGELY NEGE

“We believe that the intraday market texture is weak, but a fresh sel -off is possible only only if the level of 80,500 is breeded. Below this, Sensex Cout Decline to 80,100 – 80,000 – 80,000. If the Index Moves Above 81,000, A Quick Pullback Rally Towards The 20-Day SMA or 81,300 Cold Occur. Chouhan, Head Equity Research, Kotak Securities.

Nifty 50 prediction

Nifty 50 formed a bear candle signaling Profit booking at higher levels as the index failed to

“A long negative candle was formed on the daily chart, that has negated the positive impact created by the previous session. Within 24,500 – 25,000 levels and the nifty is currently placed at the lower range, “said nagaraj shetti, Senior Technical Research Analyst at HDFC Securities.

He Believes Further Weakness Below from Here Blad Open More Weakness Down to the Next Support of 24,400 – 24,300 Levels, and any UPSIDE from from here and nowre count resistance arounds.

Dr. Praveen Dwarakanath, Vice President of Hedged.in, Noted that the Nifty 50 formed an engulfing bearish candle closing near its support of 24,500 levels.

“Nifty 50 index is bouncing every time from the 24,500 level, indicating strong support at the 24,500 level. The index has consolidated between the range of 24,500 and 25,150, until the break of any one of these, the Bias Continues to Be Sideways. Possible bounce from the closing level, “said dwarakanath.

Vla Ambala, co-founder of stock market today said that the nifty 50 index formed a bearish engulfing candlestick pattern on the daily time frame.

“Judging the current market sentiment, 24,430 would be a decisive level to watch today, as it could emerge as a make-or-break point. Meaning. Meaning. Bulish, and the current Momentum is Viewed as a Pullback. Above 24,810, a sell-on-the-rest strategy would be best suited, but if nifty opens Around 24,250, A Buy-On-Dip Strategy will be more Beneficial, “Ambala Said.

Based on these consider, she expects nifty 50 to gather support between 24,250 and 24,180 and notice resistance near 24,670 and 24,810 in today’s intraday session.

Bank nifty prediction

Bank Nifty Index Hit a Fresh All Time High of 56,161 in the Opening Trade on Tuesday, while Profit Booking at Higher Levels Saw the Index Giveing ​​Up Its Gains and Closing Lower by 0.5%.

“Bank Nifty index snapped its four sessions up move and formed a bear candle signaling profit booking at higher levels. The index is seen consolidating in the broad range of 56,000 – 53,500 in the last five weeks. The Index Sustaining Above The 56,000 Mark will signal acceleration of up moves the 56,700 zone in the near term. Said in a note.

According to the brokerage firm, the short-term structure remains constructive with immediati support is placed at 55,000-55,200 levels, white key short-term Suppport is seen aT 54,000-53,000-53,000- Which coincides with the 50-day ema, key fibonacci retracement levels, and the lower end of the established five-wheek consolidation band.

Dhupesh Dhameja, Derivatives Research Analyst, Samco Securities BELIEVES That The Bank Nifty Index Remains Structurally BULLING, HOLDING FIRMLY Above Its 10-DAY EMA, And Every Minor Dip Continues to be boght into.

“A Sustained Breakout Above The Immediate Resistance at the All-Time High Could Unleash Strong Bulish Bullym Momentum. Unless the Crucial Support at 55,000 IS Breached Decisive Face Persistent Hurdles. Said Dhameja.

With the upcoming RBI Monetary Policy Event on the Horizon, Traders Should Prepare for Potential Spikes in Volatily and Rapid Momentum Shifts, He Added.

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