Quote On Post Market Comment 06 June 2025 by Mandar Bhojane, Research Analyst, Choice Broking
Below The Quote On Post Market Comment 06 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 loss of 11 points for the broader index.
Today, Nifty is likely to find immediate support at 24,500, followed by 24,400 and 24,300. On the upside, resistance is expected at 24,850, then 24,900, and finally the psychological mark of 25,000. A breach below 24,500 could trigger further selling pressure, while a breakout above 25,000 may open up room for fresh highs.
Bank Nifty is also expected to trade in a range with support seen at 55,400, followed by 55,300 and 55,100. On the higher side, resistance levels are placed at 56,100, then 56,400, and 56,500. Traders should stay alert as banking stocks may witness heightened volatility with RBI's decision around the corner.
In terms of institutional activity, Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs.208 crore on June 5. In contrast, Domestic Institutional Investors (DIIs) remained strong buyers with net purchases worth Rs.2,382 crore, which provided support to the market.
India VIX declined by 4.21% to 15.08, suggesting that the market is pricing in lower volatility in the near term. However, with the RBI policy due, traders should remain cautious as volatility may spike depending on the central bank’s tone and rate outlook.
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