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Mint
41 minutes ago
- Business
- Mint
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 Thursday, tracking mixed cues from global markets. The trends on Gift Nifty also indicate a muted start 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 Wednesday, 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 Sensex, Nifty 50 and Bank Nifty today: 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 key levels to watch are 80,500 and 81,300. A move above the 20-day SMA or 81,300 could see the Sensex rallying toward 81,500 - 81,800. Conversely, a dismissal of 80,500 could accelerate selling pressure, with the index potentially slipping to 80,100 - 80,000,' said Shrikant Chouhan, Head – Equity Research, Kotak Securities. Nifty 50 witnessed modest upside bounce on June 4 and closed the day higher by 77 points amidst range movement. 'A reasonable bullish candle was formed on the daily chart on Wednesday, that was placed beside the long bear candle of previous session, which is indicating an attempt of upside bounce in the market. Nifty 50 is 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 range,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. He believes the underlying trend of Nifty 50 remains choppy, and further upside above the hurdle 24,850 levels could bring bulls back into action. Immediate support is placed at 24,500 levels. Bajaj Broking Research said that the Nifty 50 formed a small bull candle which remains enclosed inside previous session price range, signaling consolidation amid stock specific action ahead of the weekly expiry 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 extend the consolidation ahead of the RBI monetary policy outcome on Friday. The zone around 24,400 – 24,500 serves as a crucial support area, aligning with the previous breakout zone, recent swing lows, and key Fibonacci retracement levels of the prior uptrend. A decisive break below this 24,400 – 24,500 support band could lead to a sharper decline,' said the brokerage firm. On the upside, the index faces 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 inside bar or bullish Harami candlestick pattern on the daily timeframe, with its RSI at 52- and the 20-day EMA. 'This technical development indicates a potential upward momentum. We could expect Nifty 50 to trade between 24,300 and 25,000 during the middle of the week. For Thursday's weekly expiry, Nifty 50 could find support between 24,500 and 24,370 and face resistance near 24,730 and 24,800 for the next trading session.' Bank Nifty index rose 76.90 points, or 0.14%, to close at 55,676.85 on Wednesday, forming a doji candle with small shadows on either side, highlighting consolidation ahead of the RBI 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. We believe only a closing above the 56,000 area will signal extension of the up move towards the 56,700 zone in the near term. Failure to do so will signal extension of the last five weeks' consolidation,' said Bajaj Broking Research. It believes the short-term structure remains constructive with immediate support is placed at 55,000 – 55,200 levels, while key short-term support is seen at 54,000 – 53,500, which coincides with the 50-day EMA, key Fibonacci retracement levels, and the lower end of the established five-week consolidation band. Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities said that the Bank Nifty index remains mildly bullish, 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. This upcoming event is likely to act as a catalyst for directional resolution, potentially bringing sharp moves and volatility spikes. Unless the index decisively breaks below 55,300, the overall structure favors buying-on-dips, and the downside risk appears limited for now,' Dhameja said. According to him, a sustained move above the resistance of 56,150 could attract aggressive buying interest, but until that happens, 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 could tilt the balance sharply in either direction,' added Dhameja. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
a day ago
- Business
- Mint
Stock market today: Trade setup for Nifty 50 to US dollar; 8 stocks to buy or sell on Wednesday — 4 June 2025
Stock market today: The Indian stock market crashed on Tuesday, 3 June 2025, due to weak global cues and rising concerns over stretched valuations and foreign capital outflow. The Nifty 50 index closed 0.70 per cent lower at 24,542.50 points, compared to 24,716.60 points at the previous market session. The BSE Sensex closed 0.78 per cent lower at 80,737.51 points, compared to 81,373.75 points at the previous stock market session. Shrikant Chouhan, Head of Equity Research at Kotak Securities, said, 'Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ended 174 points lower, while the Sensex was down by 636 points. Among sectors, the Private Bank index lost the most, shedding 1.25 per cent, whereas despite the weak market sentiment, the Reality and Defence indices outperformed, rallying over 1 per cent.' 'Technically, after a positive open, the market slipped below the 20-day SMA (Simple Moving Average) or 24,700/81,300, and thereafter, selling pressure intensified. On daily charts, a long bearish candle has formed, and on intraday charts, a lower top formation is holding, which is largely negative,' said the stock market expert. 'We believe that the intraday market texture is weak, but a fresh sell-off is possible only if the level of 24,450/80,500 is breached. Below this, the index could decline to 24,320–24,300/80,100-80,000. On the upside, if the index moves above 24,600/81,000, a quick pullback rally towards the 20-day SMA or 24,700/81,300 could occur. Further upside may also continue, potentially lifting the market up to 24,760/81,500,' said Chouhan. The United States Dollar Index Spot was trading 0.53 per cent higher at 99.226 as of 1:16 p.m. (EDT) on Tuesday, 3 June 2025, according to the Bloomberg Dollar Index. According to a Reuters report, the US Dollar gained as gold dropped due to pressure from a firmer dollar. Investors became cautious ahead of a potential call between U.S. President Donald Trump and China's Xi Jinping. Sumeet Bagadia, Executive Director at Choice Broking, has recommended two stock picks for today. Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, has suggested three stocks for Wednesday. Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, also recommended three stocks for 3 June 2025. These include Rashtriya Chemicals and Fertilizers, BSE, Bajaj Finserv, PB Fintech, Chambal Fertilisers & Chemicals, Ideaforge Technology, Graphite India, and Kaveri Seed Company. 1. Rashtriya Chemicals and Fertilizers Ltd. (RCF): Buy at ₹ 160.32; Target Price at ₹ 173; Stop Loss at ₹ 154. RCF is currently trading at ₹ 160.32 and continues to exhibit a strong upward trajectory, characterized by a consistent formation of higher highs and higher lows—an indication of sustained bullish momentum. The stock has recently broken above a key resistance level at ₹ 160, reinforcing the continuation of its uptrend. This breakout may attract increased buying interest and could accelerate the ongoing momentum. From a technical standpoint, RCF is trading above its 20, 50, 100, and 200-day Exponential Moving Averages (EMAs), all of which are trending upwards. This alignment confirms underlying strength and further supports the prevailing bullish sentiment. A sustained move above the ₹ 165 resistance zone may pave the way for a short-term rally toward the next target of ₹ 173. On the downside, immediate support is seen at ₹ 157, while the Relative Strength Index (RSI) stands at 68.75 and is rising—indicating strengthening buying momentum without yet entering overbought territory. To manage risk effectively, a stop-loss is recommended at ₹ 154 to protect against potential reversals. In summary, RCF presents a technically strong buying opportunity, supported by positive price structure and momentum indicators. However, traders are advised to implement strict risk management strategies and monitor price action closely near the ₹ 165 level for confirmation of further upside potential. 2. BSE Ltd. (BSE): Buy at ₹ 2,764.9; Target Price at ₹ 2,986; Stop Loss at ₹ 2,668. BSE is currently trading at 2,764.9, maintaining a strong upward trajectory. The stock has consistently formed higher highs and higher lows, reflecting sustained bullish momentum. It recently reached its all-time higher levels of 2,787.8. A breakout above this levels could further accelerate buying interest. The Exponential Moving Averages (EMAs) for the 20, 50, 100, and 200-day periods are all trending upwards, reinforcing the bullish outlook. The price is trading above all major EMAs, indicating strong positive sentiment and continued strength in the stock. If BSE manages to close above its level, it could gain further traction toward a short-term target of 2,986. Traders should monitor price action around this resistance zone for confirmation of a breakout. On the downside, immediate support is located at 2,720. The Relative Strength Index (RSI) is currently at 74.49 and trending upward, reflecting growing buying momentum. To manage risk effectively, a stop-loss at 2,668 is suggested to guard against any unexpected market reversals. In conclusion, based on the technical analysis and current market conditions, BSE presents a promising buying opportunity for those aiming for a 2,986 target, provided that appropriate risk management strategies are in place. 3. Bajaj Finserv Ltd. (BAJAJFINSV): Buy at ₹ 1,992; Target Price at ₹ 2,100; Stop Loss at ₹ 1,950. In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 1,992 and holding above a key support level at ₹ 1,950. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 1,950 to manage downside risk. The target for this trade is set at ₹ 2,100, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. In the latest short-term technical analysis, stock has shown a strong and consistent bullish trend, indicating the potential for an extended upward move. The stock is currently trading at ₹ 1,992 and holding above a key support level at ₹ 1,950. This support zone serves as a critical point for risk management. Given the bullish momentum, traders are advised to consider a buying opportunity with a stop-loss placed strategically at ₹ 1,950 to manage downside risk. The target for this trade is set at ₹ 2,100, suggesting a favorable risk-to-reward ratio and a continuation of the prevailing upward trend. 4. PB Fintech Ltd. (POLICYBZR): Buy at ₹ 1,740; Target Price at ₹ 1,800; Stop Loss at ₹ 1,710. Stock has exhibited a strong notable continue bullish pattern, offering another promising opportunity for short-term traders. The stock is currently priced at ₹ 1,740 and maintaining a strong support at ₹ 1,710. The technical setup indicates the potential for a price retracement towards the ₹ 1,800 level. With the stock reversing from a support base and showing signs of renewed strength, entering at the current market price with a stop-loss at ₹ 1,710 offers a prudent approach to capturing the anticipated upside. 5. Chambal Fertilisers & Chemicals Ltd. (CHAMBLFERT): Buy at ₹ 562; Target Price at ₹ 590; Stop Loss at ₹ 550. Stock is currently trading at ₹ 562 and appears to be in bullish zone for short term. A bullish reversal pattern has emerged on the daily chart, indicating a potential upmove. The critical support level lies at ₹ 550, which also acts as a key stop-loss point for this trade. With bullish cues signaling a possible retracement towards the ₹ 590 target, this setup provides a favorable entry opportunity for traders looking to capitalize on a technical rebound. 6. Ideaforge Technology Ltd. (IDEAFORGE): Buy at ₹ 561; Target Price at ₹ 600; Stop Loss at ₹ 548. The stock has once again gained strength with a positive candle formation moving past the 200 period MA at 542 level and with overall trend maintained strong, we anticipate further rise in the coming sessions with volume participation also indicating a significant rise. The RSI has corrected from the highly overbought zone and currently is well placed to anticipate for another fresh round of momentum to carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock for an upside target of 600 keeping the stop loss of 548 level. 7. Graphite India Ltd. (GRAPHITE): Buy at ₹ 555; Target Price at ₹ 590; Stop Loss at ₹ 542. The stock after indicating a flag pattern on the daily chart has shown signs of improvement with the price on the verge of a breakout above 560 levels accompanied with rising volume participation visible. The RSI is currently well positioned and has strength to anticipate for further upward move in the coming sessions. With the chart technically well positioned, we suggest buying the stock for an upside target of 590 level keeping the stop loss of 542 level. 8. Kaveri Seed Company Ltd. (KSCL): Buy at ₹ 1,455; Target Price at ₹ 1,520; Stop Loss at ₹ 1,425. The stock has been consolidating with a little dip witnessed in the last 3-4 sessions, with currently improving the bias with a positive candle formation and significant volume participation indicated and can anticipate for further rise in the coming sessions. The RSI is better placed and with a revival indicated has shown strength with much upside potential visible from current rate. With the chart technically looking attractive, we suggest buying the stock for an upside target of 1,520 level keeping the stop lossof1,425level. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
2 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 3
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher amid upbeat global market cues, even as sentiment remains cautious. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,859 level, a premium of nearly 33 points from the Nifty futures' previous close. On Monday, the domestic equity market ended marginally lower amid volatility, staging a recovery from early declines. The Sensex declined 77.26 points, or 0.09%, to close at 81,373.75, while the Nifty 50 settled 34.10 points, or 0.14%, lower at 24,716.60. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex dropped 77 points and closed at 81,373.75 on Monday, taking support near 80,600 level during the day. 'We are of the view that, the current market texture is non directional hence level based trading would be the ideal strategy for day traders, 81,100 and the 20-day SMA or 81,300 would act as key support levels. Above these levels, the Sensex could move up to 81,600 - 81,800. On the flip side, below 81,100, selling pressure is likely to accelerate. If Sensex falls below this level, it could correct up to 80,600 - 80,400,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. Nifty 50 showed signs of upside recovery from the lower levels on June 2 and closed the day lower by 34 points. 'A small positive candle was formed on the daily chart with a long lower shadow. This market action indicates a formation of bullish hammer type candle pattern (not a classical one) at the support of 20-day EMA after a fall of few sessions. The underlying trend of Nifty 50 remains choppy with weak bias,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. Having shown upside recovery from the higher lows on Monday, the Nifty 50 is expected to show a short term upside bounce towards 24,900 in the next few sessions. Immediate support is at 24,500, he added. Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd. noted that the Nifty 50 formed a hammer candlestick on the daily chart, suggesting potential strength. 'Immediate support for the index is placed near its 21-Day EMA, which is around 24,620, followed by 24,500. On the upside, the index might face strong resistance near the 25,000 – 25,100 zone,' Yedve said. VLA Ambala, Co-Founder of Stock Market Today expects Nifty 50 index to remain in a small range for the next two to three days, as there are no significant news events or triggers. 'Nifty 50 is trading near its 20-day EMA, which is acting as an immediate support level for swing traders. Based on these developments, we can expect Nifty 50 to trade within a range of 25,000 to 24,300 this entire week. We can also expect Nifty 50 to gain support between 24,550 and 24,480 and face resistance near 24,800 and 24,870 in today's intraday trading session,' Ambala said. Bank Nifty index ended 153.70 points, or 0.28%, higher at 55,903.40 on Monday, extending gains for the fourth session in a row. 'Bank Nifty index has formed a small bull candle with a higher high and higher low, signaling consolidation with positive bias. The index is currently placed at the upper band of the last 5 weeks consolidation range placed around 55,800 - 56,000 levels. Going ahead, a move and a close above 56,000 levels will signal acceleration of the up move towards 56,700 levels in the coming sessions,' Bajaj Broking Research said in a note. According to broking firm, the bias remain positive and dips should be used as a buying opportunity with immediate support placed at 55,000 - 55,200 levels while the key short-term support is seen at 54,000 - 53,500 being the confluence of key retracement and 50 days EMA and the lower band of the last 5 weeks consolidation range. Hrishikesh Yedve said that the Bank Nifty index formed a green candle on the daily charts, indicating bullish undertone. 'On the upside, immediate resistance is seen near the 56,100, and a firm breakout above this level could extend gains towards 57,000 – 57,500. On the downside, the 21-DEMA placed near 55,060, will act as strong support. As long as the index holds above this level, a 'buy on dips' strategy is advisable for Bank Nifty,' Yedve said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
3 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 2
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Monday tracking weak global market cues. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,870 level, a discount of nearly 1 point from the Nifty futures' previous close. On Friday, the domestic equity market indices ended lower, with the benchmark Nifty 50 closing below 24,800 level The Sensex declined 182.01 points, or 0.22%, to close at 81,451.01, while the Nifty 50 closed 82.90 points, or 0.33%, lower at 24,750.70. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex formed a small bearish candle on weekly charts, and is holding a weak formation on intraday charts, which is largely negative. 'We believe that the 20-day SMA (Simple Moving Average) and the level of 80,900 will act as key support zones for short-term traders, while 82,200 will serve as a key resistance area for the bulls. As long as Sensex remains between the 80,900 and 82,200 ranges, a sideways, range-bound texture is likely to continue,' said Amol Athawale, VP-Technical Research, Kotak Securities. On the upside, he believes a successful breakout above 82,200 could push the Sensex towards 82,900. Further upside may also continue, potentially lifting the index up to 83,700. 'On the other hand, a breach of 80,900 could change the sentiment. Below this level, Sensex is likely to retest the levels of 80,300 – 79,800,' said Athawale. Nifty 50 declined 0.33% to end at 24,750.70 on May 30. On the weekly front, the index slipped 0.41%, however, posted a healthy monthly gain of 1.71%, reflecting a broader consolidation phase within a bullish trend. 'Nifty 50 is navigating a parallel channel between 24,500 and 25,000, with the index hovering near the median of this range. However, with several attempts, the index has yet to deliver a decisive breakout in either direction. Nifty 50 remains below the 9-day EMA, signalling near-term fatigue, but remains firmly above the 20-day EMA, which still supports the ongoing uptrend. The index remains non-directional, but a fresh move is likely to emerge only after a confirmed close above or below the defined range on consecutive sessions,' said Om Mehra, Technical Research Analyst, SAMCO Securities. The daily and weekly RSI continue to sustain above the 55 mark, suggesting a neutral momentum setup. The primary structure remains bullish, and a sustained close above 25,000 may open the gates for a renewed upward rally, he added. Puneet Singhania, Director at Master Trust Group said that the Nifty 50 index continues to sustain above its 21-day EMA, which is acting as a critical dynamic support level. 'Nifty 50 index is still holding above key moving averages, supporting the ongoing uptrend. RSI is also trading above 14-day SMA, currently trading at 59. Strong support lies around 24,500, a previously tested demand zone. If this level breaks, Nifty 50 may drift lower toward 24,200. On the upside, resistance is seen at 25,000. A decisive move above this level could lead to a rally toward 25,300. Positional traders can look to buy on dips near support,' said Singhania. According to Dr. Praveen Dwarakanath, Vice President of the Nifty 50 formed an insider candle indicating indecisiveness in the index. 'The momentum indicators are all decaying due to the sideways move in the index for the last 5 trading days. The index continued its consolidation between the 24,600 and 25,150 levels. The options writers' data for the coming week's expiry also suggests range bound move in the index. The higher time frame shows bullishness in the index; however, the consolidation for the last few days has played a spoilsport, suggesting a possible fall towards the support at 24,600 levels before an up move,' said Dwarakanath. The ADX average line is well below 20 levels, indicating a possible trend is yet to be established on the daily chart, he added. Judging by the bullish market outlook, VLA Ambala, Co-Founder of Stock Market Today suggests buying at lower levels for market participants. 'Considering these aspects, the Nifty 50 index's key support level for this week may lie between the 24,520 and 24,450 range. However, if there's a gap-down opening, the range might serve as an immediate support level, and the levels of 24,880 and 25,030 may serve as resistance points,' Ambala said. Bank Nifty index rallied 203.65 points, or 0.37%, to close at 55,749.70 on Friday, forming a small bull candle with a higher high and higher low on the weekly chart, signaling consolidation with positive bias. 'Bank Nifty traded with high volatility throughout the week but managed to end positive, showing resilience near key support levels. The index took support near its 21-day EMA and has consistently traded above this level, which is currently near the 55,000 mark. The index is currently at the upper edge of the trading range, showing strength. Key support is placed at 55,000 and 54,500, offering a good zone for dip buying,' said Puneet Singhania. On the upside, 56,100 is a key resistance. A sustained move above this level could trigger a sharp rally toward 57,000. Overall, the setup remains positive, and traders can look to buy on dips, he added. Bajaj Broking Research said that the Bank Nifty index is currently testing the upper band of the last 5 weeks consolidation range placed around 55,800 - 56,000 levels. 'Overall, we expect the index to extend the last 5 weeks' consolidation in the broad range of 56,000 - 53,500. A move above 56,000 levels will signal acceleration of the up move towards 56,700 levels in the coming sessions. Immediate support is placed at 54,800 levels while the short-term support is seen at 54,000 - 53,500 being the confluence of key retracement and 50 days EMA,' said Bajaj Broking Research. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Hans India
4 days ago
- Business
- Hans India
Trade setup June 2: Sensex turns negative, forms small bearish weekly chart candle
Domestic equity markets ended the week on a cautious note, with the BSE Sensex closing 182 points lower at 81,451.01 on Friday. The index slipped into negative territory amid losses in metal, IT, and auto stocks, although banking shares lent some support. Market sentiment stayed muted as investors remained wary of global trade developments, especially after a US court upheld former President Trump's tariff policies. According to Shrikant Chouhan, Head of Equity Research at Kotak Securities, the Sensex is currently showing signs of weakness on intraday charts and has formed a small bearish candle on the weekly chart — a sign that the market could remain range-bound in the short term. Key Levels to Watch on Monday (June 2): Support: 80,900 (also the 20-day Simple Moving Average) Resistance: 82,200 As long as the Sensex remains within the 80,900–82,200 range, a sideways trend is expected. However, a breakout above 82,200 could trigger a move towards 82,900, and potentially even 83,700. On the downside, a break below 80,900 may push the index down to 80,300 or even 79,800, Chouhan cautioned. Looking ahead, market focus will shift to the upcoming RBI Monetary Policy Committee (MPC) meeting. With inflation currently under control, analysts believe the central bank may consider measures that support economic growth. Disclaimer: This article is intended for informational purposes only and should not be taken as financial advice. Investors are advised to consult certified professionals before making any trading or investment decisions.
