Quote on Market Movement 02 June 2025 by Mr. Akshay Chinchalkar, Head of Research, Axis Securities
Below the Quote on Market Movement 02 June 2025 by Mr. Akshay Chinchalkar, Head of Research, Axis Securities
"The nifty ended down for the third day in four on Friday, but yet again, the India VIX ended in the red. Falling demand for downside hedging in a falling market is bullish. That said, the range that matters - 24462 to 25116 - continues to hold out so a trending move can be expected only if prices are able to move out of this "box". Near-term support lies in the 24600 - 24677 area while immediate resistance lies at 24893. Meanwhile, investors are keenly looking forward to a potential telephonic conversation between President Trump and President Xi Jinping as the US-China trade deal seems to have stalled somewhat."
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