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Below The Quote On Post Market Comment 04 June 2025 by Mandar Bhojane, Research Analyst, Choice Broking

The benchmark Sensex and Nifty indices are expected to open on a flat note today, as GIFT Nifty trends indicate a modest gain of 47 points for the broader index.

After the initial flat opening, Nifty may find support at 24,500, followed by 24,400 and 24,300. On the upside, 24,800 is expected to act as immediate resistance, followed by 24,900 and 25,000.

Bank Nifty is likely to take support at 55,400, with further support at 55,300 and 55,100. On the higher side, resistance is expected around 56,100, followed by 56,400 and 56,500.

On the institutional front, Foreign Institutional Investors (FIIs) continued their selling spree for the third consecutive session on June 3, offloading equities worth ?2,853.83 crore. Meanwhile, Domestic Institutional Investors (DIIs) remained net buyers for the 11th consecutive session, investing ?5,907.97 crore in equities.

India VIX was down 3.51%, currently trading at 16.5550, indicating reduced volatility expectations in the near term.

From a technical perspective, the daily chart of Nifty has formed a strong Bearish Engulfing candlestick pattern, reflecting a shift in sentiment. This suggests that sellers gained control after an initial attempt by buyers to push the index higher. The bearish price action indicates rising selling pressure and calls for caution in the short term.

On the downside, 24,500 remains immediate support, with a stronger base near the 24,400 zone. A breach below these levels could lead to extended weakness and drag the index further lower. On the upside, 24,600 acts as immediate resistance, with a major hurdle at 24,800. A decisive move above these levels will be crucial to restore bullish momentum and support a potential recovery.

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