Trade setup for June 9: Top 15 things to know before the opening bell
According to experts, the levels to watch are 25,200–25,300 on the higher side, while support is seen at the 24,800–24,700 zones, followed by 24,500 as a key support for the Nifty 50.
Chartist Talks: SBI Securities' Sudeep Shah still sees nearly 4% upside in Bank Nifty, bullish on these 4 stocks
Technically, all the moving averages and momentum-based indicators suggest strong bullish momentum in the Bank Nifty index. The daily RSI is quoting at 67.45, and it is in rising trajectory, which suggests strong bullish momentum.
Is Bank Nifty getting ready for a new Bull run?
The combination of RBI’s rate cut, strong technical breakouts, and sector leadership puts banking stocks, particularly HDFC Bank and IDFC First Bank, in a sweet spot.
Option writing in consolidating markets: Shubham Agarwal
The consolidation is very contagious in nature. Once started it continues for some time, which gives the chance to Option writing opportunities.
Technical View: Surprise RBI move, easing VIX make Nifty bulls confident; sustaining above 25k crucial for upmove; Bank Nifty at new high
The India VIX — the fear gauge — fell for the fourth consecutive session and dropped below the 15 mark, closing at 14.63, down 3 percent, giving the bulls more comfort.
Experts pitch 14 rate-sensitive stocks after RBI surprises with larger repo cut, CRR action
After the RBI's Monetary Policy Committee reduced the repo rate by 50 bps to 5.5 percent, Moneycontrol collated a list of top 14 rate-sensitive stocks from experts with a shorter term investment perspective.
Trading Plan: Can Nifty 50, Bank Nifty maintain upward journey on RBI MPC policy day?
The bullish bias is expected to sustain, potentially taking the Nifty 50 towards the 24,900–25,000 zone as long as the key support at 24,500 holds.
Trade setup for June 6: Top 15 things to know before the opening bell
If the momentum sustains, the immediate hurdle for the Nifty 50 is seen at the 24,900 zone, followed by 25,000, as long as it holds above 24,500—the key support zone, according to experts.
Trade Spotlight: How should you trade DLF, Info Edge, Fortis Healthcare, L&T Finance, Hindustan Zinc, Power Grid Corporation and others on June 6?
The RBI interest rate decision may provide direction to the market in the upcoming session. Below are some short-term trading ideas to consider.
Technical View: 24,900 to be crucial for further upside in Nifty, VIX drops to 2-month low ahead of RBI MPC meet outcome
The India VIX, which measures expected market volatility, remained supportive for the bulls as it declined for the third consecutive session, reaching the 15 mark. It fell by 4.21 percent to 15.08.
Trading Plan: Will Nifty 50 reclaim 24,700, Bank Nifty move toward 56,000 ahead of RBI policy?
The Nifty 50 remained below short-term moving averages (10- and 20-day EMAs) and below the midline of the Bollinger Bands (24,700). Hence, the index needs to reclaim and sustain above 24,700 for a move toward the 24,850–24,900 levels. However, on the lower side, 24,500 is expected to act as key support, which has consistently held well on a closing basis.
Trade Spotlight: How should you trade JSW Infrastructure, Dabur, RITES, APL Apollo Tubes, Container Corporation, PB Fintech and others on June 5?
Market sentiment may improve further with the fall in India VIX and amid hopes of a 25 bps cut in the repo rate in the policy meeting on June 6. Below are some short-term trading ideas to consider.
Trade setup for June 5: Top 15 things to know before the opening bell
For Nifty 50, 24,500 is expected to act as a key support zone in the upcoming sessions. However, it remained below the midline of the Bollinger Bands at 24,700. Hence, the immediate hurdle is expected at 24,700, and above that, 24,850 becomes the next level to watch.
Technical View: Nifty rebounds after 3-day weakness, next target placed at 24,850, falling VIX turns supportive for bulls
The next hurdle for the Nifty 50 is placed at 24,850—the high of the previous session. Above this, the 25,000 level is the key to watch. However, 24,500 is expected to act as a crucial support zone, according to experts.
Trading Plan: Will Nifty 50 sustain above 24,500, Bank Nifty defend 55,100?
According to experts, if the Nifty 50 breaks and sustains below 24,500, selling pressure may intensify. However, a bounce back above 24,700 could lift the index toward 24,900–25,000 levels.
Trade Spotlight: How should you trade Oberoi Realty, LIC Housing, RCF, Signature Global, Valor Estate, Brigade Enterprises and others on June 4?
The market is expected to remain rangebound and attempt to defend the previous day’s low amid elevated VIX levels. Below are some short-term trading ideas to consider.
Trade setup for June 4: Top 15 things to know before the opening bell
If the Nifty 50 breaks below the lower boundary of this range, the 24,380 level will be crucial, as a decisive fall below this point could trigger increased bearish activity. However, if the index continues to defend the lower range, immediate resistance is expected at 24,700, followed by 24,900, according to experts.
Technical View: Nifty breaches 20 DEMA to form long bearish candle, 24,400-24,370 likely to be make or break zone
Weekly options data suggested that the Nifty may trade within the 24,000–25,000 range in the short term.
Trading Plan: Will Nifty 50 continue to underperform Bank Nifty amid rangebound trading?
Overall, the Nifty 50 is expected to trade within the 24,500–25,100 range in the upcoming sessions. According to experts, a fall below 24,500 can open the door for a move toward 24,400, while sustaining above 25,000 can drive the index toward the 25,100–25,200 zone.
Trade Spotlight: How should you trade PNB, Swiggy, Bank of India, Adani Ports, CDSL, Canara Bank, NBCC, Bharti Airtel and others on June 3?
The market may turn positive amid rangebound trading. Below are some short-term trading ideas to consider.
Trade setup for June 3: Top 15 things to know before the opening bell
According to experts, the Nifty 50 is expected to remain choppy in the upcoming sessions. If the index decisively breaks below the lower range, the 24,380 level is one to watch. However, in case of a rebound, 24,900 is expected to act as a hurdle for the index.
Trading Plan: Will Nifty 50 rebound to 24,900, Bank Nifty extend gains towards 56,000 zone?
Overall, the trend remains positive, although in the short term, the Nifty 50 may stay rangebound, facing resistance in the 24,900-25,000 zone. A breakout above this range could push the index towards 25,100, while the support zone is placed around 24,700. Below this level, 24,450 is the key level to watch, according to experts.
Trade Spotlight: How should you trade CDSL, Manappuram Finance, Wockhardt, HDFC Life Insurance, GSK Pharma and others on June 2?
The market is expected to trade with a positive bias, albeit within a likely rangebound zone. Below are some short-term trading ideas to consider.
Trade setup for June 2: Top 15 things to know before the opening bell
A decisive close below this zone could drag the Nifty 50 down to 24,500–24,450. On the flip side, 24,900 is likely to act as the immediate key resistance zone, and a move above this level could take the index toward the 25,000 mark. Overall, according to experts, the index is likely to remain in the 24,500–25,000 range in the short term.
