Following a surge in global stocks fueled by anticipated relief in the US-China trade talks and the RBI’s Monetary Policy Committee’s anticipated rate cuts on Friday, Indian benchmark equity indices ended a three-day losing skid on Wednesday.
Strong US job data and indications of an easing of US-China trade tensions were among the favorable global cues that helped the domestic market trade in a narrow range with a slight upward tilt. Moderation in valuation and better-than expected profit growth drove the outperformance of mid- and small-cap equities. With hopes of a rate drop and more clarity on the GDP and inflation forecast for the future, investors are now concentrating on the RBI policy meeting that begins today.
In this overview, we will analyze the key technical levels and trend directions for Nifty, Bank Nifty, and BSE Sensex to monitor in the upcoming trading sessions. All charts mentioned below are based on the 5-minute timeframe.
NIFTY 50 Chart & Price Action Analysis
The Nifty 50 Index opened at 24,560 and was trading above the 24,600 level in the morning session, breaking the 20-day EMA (24,589) in the 15-minute time frame. It touched a day’s low at 24,530. In the afternoon session, Nifty sharply climbed further and was trading at the 24,612 level, breaking the 20-day EMA (24,605).
- Nifty’s immediate resistance levels are R1 (24,760), R2 (24,841), and R3 and R3 (24,972), while immediate support levels are S1 (24,498), S2 (24,417), and S3 (24,286) in the daily time frame. On the Wednesday session, Nifty closed above the 24,600 level, and broader markets continued to outperform the benchmarks.
- The Nifty index peaked at 24,644 and closed above the nearest resistance of the 24,600 level, closing at 24,620, up by +77.7 points or +0.32%. The Relative Strength Index (RSI) stood at 52.34 (well below the overbought zone of 70) in the daily time frame, and Nifty 50 was above in 50/100/200 EMAs and below in 20-day EMAs.
Bank Nifty Chart & Price Action Analysis
- The Bank Nifty Index opened at the 55,650 and was trading above the 55,650 level in the morning session, breaking the 20-day EMA (55,629) in the 15-minute time frame. It touched a day’s low at 55,455. In the afternoon session, Bank Nifty closed above and traded at the 55,650 level, breaking the 20-day EMA (55,649).
- Bank Nifty immediate resistance levels are R1 (56,008), R2 (56,175), and R3 (56,444)—while immediate support levels are S1 (55,408), S2 (55,302), and S3 (55,033). On the Wednesday session, Bank Nifty was closed in green and formed an indecision pattern, a doji in a daily time frame.
- The Bank Nifty index peaked at 55,791 and closed at 55,676, up by +77 points or +0.14%. The Relative Strength Index (RSI) stood at 59.65 (well below the overbought zone of 70) in the daily time frame, and Bank Nifty 50 was above the 20/50/100/200 EMAs.
BSE Sensex Chart & Price Action Analysis
- The Bank Nifty Index opened at 55,650 and was trading above the 55,650 level in the morning session, breaking the 20-day EMA (55,629) in the 15-minute time frame. It touched a day’s low at 55,455. In the afternoon session, Bank Nifty closed above and traded at the 55,650 level, breaking the 20-day EMA (55,649).
- Bank Nifty immediate resistance levels are R1 (56,008), R2 (56,175), and R3 (56,444)—while immediate support levels are S1 (55,408), S2 (55,302), and S3 (55,033). On the Wednesday session, Bank Nifty was closed in green and formed an indecision pattern, a doji in a daily time frame.
- The Bank Nifty index peaked at 55,791 and closed at 55,676, up by +77 points or +0.14%. The Relative Strength Index (RSI) stood at 59.65 (well below the overbought zone of 70) in the daily time frame, and Bank Nifty 50 was above the 20/50/100/200 EMAs
Market Recap June 4th, 2025
The Indian markets opened in green, with Nifty 50 opening at 24,560 and trading right below the 20-day EMA (24,628.67) in the daily time frame. Similarly, BSE Sensex also opened on a similar note at 80,777.65, peaking at 81,087 and slightly surpassing the 20-day EMA. The Nifty 50 closed at 24,620.2, up by 77.7 points or 0.32%, with an RSI of 52.34 and above the 50/100/200 EMA in the daily time frame and closed near the 20-day EMA. Whereas, BSE Sensex closed at 80,998.25, up by 260.74 points or 0.32%.
Among the top sectoral performers, the Nifty Midcap 50 gained 142.85 points or 0.89%, closed at 16,195.4 with stocks like PB Fintech, PI Industries, Oracle Financial Services and Dixon Technologies surged up to 6%. Nifty Smallcap 50 followed the positive trend, gaining 63.15 points or 0.73%, and closed at 8,755.45 with top stocks including Aster DM Healthcare Ltd, CESC Ltd, Reliance Power Ltd., and Kfin Technologies, which peaked up to 6% as well.
Only the Nifty Realty Index was the major laggard among the sectoral indices, with stocks like Anant Raj, Phoenix Mills, Oberoi Realty, and Brigade Enterprises losing around 2%, dragging the index down.
The Indices were in green amid positive global markets and buying across sectors; Asian markets also mirrored optimism, with Japan’s Nikkei 225 index gaining around 300.64 points or 0.8%, ending at 37,747 and Hong Kong’s Hang Seng index surging by 141.54 points or 0.6%, closing at 23,654. On the Global side, US Dow Jones Futures gained 105.39 points or 0.24%, trading around 42,628.
Trade Setup Summary
For Nifty, Outlook is mixed. If Nifty stays below 24,650, sentiment remains cautious. A drop below 24,500 could lead to 24,400, while a reversal above 24,650 may push it toward 24,700–24,750.
Bank Nifty index remains range-bound between 55,350 and 56,160, with no clear trend. A fall below 55,350 may trigger further downside; a rise above 56,000 could initiate a bullish move.
BSE Sensex index is above longer-term EMAs but below the 20-day EMA, indicating a lack of strong momentum. All three indices closed higher but showed indecision, with doji patterns suggesting uncertainty. The immediate trend is sideways to cautious; watch for breakouts above key resistance or breakdowns below support for directional cues. Broader markets are outperforming, but major indices are at crucial technical levels.
Traders should consider these key support and resistance levels to enter long or short positions following the price break from the key levels. Also, traders can combine moving averages for more accurate entry and exit points.
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