Nifty 50, Sensex Today: What to expect from Indian Stock Market in Trade on June 5

The Indian Stock Market Benchmark Indices, Sensex and Nifty 50, Are Likely to Open Flat on Chiursday, Tracking Mixed Cues from Global Markets.

The trends on gift nifty also indicate a mutt for the Indian Benchmark Index. The gift nifty was trading Around 24,740 Level, a Premium of Nearly 11 points from the nifty futures’ Previous Close.

On Wednsday, The Domestic Equity Market Indices Ended Higher, Snapping their three-day losing streak.

The sensex rose 260.74 points, or 0.32%, to close at 80,998.25, while the nifty 50 settled 77.70 points, or 0.32%, Higher at 24,620.20.

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

Sensex prediction

Sensex is still trading below the 20-day SMA (Simple Moving Average) of 81.300, which is largely negative.

“We believe that the current market structure is non-directional, and the intraday formation indicating range-bound activity is likely to continue in the near future. For traders, the kee levels to 80,500s and 81,300. Potentially Slipping to 80,100 – 80,000, “Said Shrikant Chouhan, Head – Equity Research, Kotak Securities.

Nifty 50 prediction

Nifty 50 witnessed modest upside bounce on June 4 and close the day higher by 77 points amidst range movement.

“A Reasonable Bully Bulish Candle was formed on the Daily Chart on Wednsday, that was placed beeside the long bear candle of previous session, which is indicating an attempt of UPSIDE in the market. Currently Placed Within A Broader High low range of 24,500 – 25,000 levels and is currently in an attempt of UPSIDE Bounce from Near The Lower End of Rang Analyst at HDFC Securities.

He believes the underlying trend of nifty 50 remains choppy, and further upside Above the Hurdle 24,850 Levels Bring Bring Bring Bulls Back ITO Action. Immediate support is placed at 24,500 levels.

Bajaj Broking Research Said That The NIFTY 50 FORMALL BULL CANDLE SEMAINS ENSIDE Previous Session Price Range, Signaling Consolidation AMID Stock SpecK SpecK Speck Specific Action ACEAD OC Session on Thursday.

“Buying demand is seen emerging Around the Lower Band of the Last 16 Session Range 24,400 – 25,080, We Expect the index to extended the consolidation ahead of the RBI Monetary Policy Outcome on FRIDAYN 24,400 – 24,500 services as a crucial support area, aligning with the previous breakout zone, recent swing lows, and key fibonaci retracement levels of the prior. 24,500 Support Band Cold Lead to a Sharper Decline, ”said the brokege firm.

On the UPSIDE, The Index FACS STIFF Resistance Near 25,050-25,080, where the previous two weekly highs have converged, creating a short-term Resistance Ceiling, IT Added.

According to Vla Ambala, Co-Founder of Stock Market Today, NIFTY 50 Index Formed An Inseide An Inseed An Inseed Bar or Bully Bullish Harami Candlestick Pattern on the Daily Timeframe, With Its RSI at 52- and the 20-day emaa.

“This technical development indicates a potential upward momentum. Support Between 24,500 and 24,370 and Face Resistance Near 24,730 and 24,800 for the next trading session. “

Bank nifty prediction

Bank Nifty Index Rose 76.90 points, or 0.14%, to close at 55,676.85 on Wednsday, Forming a Doji Candle with Small Shadows on Eite Side, HIGLIGHTING CONSOLIDATION AHEADAN AITHER SIDE Monetary policy outcome on Friday.

“Bank nifty index on the tuesday session reacted lower from the upper band of the last 5 weeks consolidation area 56,000 – 53,500. Move Towards the 56,700 zone in the Near Term. Fail to do so will signal extension of the last five weeks’ Consolidation, “Said Baajaj Broking Research.

It believes the short-term structure remains constructive with immediati support is placed at 55,000-55,200 Levels, While Key Short-Term Support is seen at 54,000-53,500, who Coincides with the 50-day ema, key fibonacci retracement levels, and the lower end of the installed five-wheek consolidation band.

Dhupesh Dhameja, Derivatives Research Analyst, Samco Securities Said That The Bank Nifty Index Remains Mildly Bulling, HOLDING Above its short-term moving average.

“However, Price Action Continues to Lack Momentum, With Buyers Hesitating to Chase Highs Ahead of the RBI Monetary Policy Outcome Later This Week. Resolution, potentially bringing sharp moves and Volatilic Spikes. Dhameja said.

According to Him, A Sustained Move Above The Resistance of 56,150 untract Agressive Buying Interest, but until that happy, the range trading strategy may remain valid.

“In conclusion, nifty bank is poised at a Crucial Juncture, with Technical Levels Clearly Defined. TRADERS are Advised to Stay Nimble, as Any Policy-Induced Surprises Counter TILT TILT TILT TILT TILT TILT TILT TILT TILT TILT TILT TILT TILT TILT TILT TILT TILT TILT is In eater direction, “Added dhameja.

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