June 3, 2025 Mumbai, India – Indian equity benchmarks witnessed a mixed yet resilient session today, with the Nifty and Sensex closing on a flat note after volatile intraday movements, while Bank Nifty signaled strength with a notable breakout.
The Nifty 50, after opening with a substantial gap down in the morning trade, showed remarkable recovery throughout the day, ending the session flat. The index continues to maintain a cautiously positive bias. A decisive breakout above the 25,000 mark could pave the way for further upside toward 25,500 and 26,300 in the near term. On the downside, the 24,500 zone remains a critical support level, and holding above this range is essential to sustain the current momentum.
Meanwhile, the Sensex remained range-bound with minor volatility, reflecting ongoing consolidation within a tight trading band. Market sentiment continues to be cautiously optimistic, with the index needing to breach above the 82,500 level decisively for renewed upward momentum. The 50-period moving average support at 79,630 remains crucial to maintain the index’s bullish structure. For the near term, support is pegged at 24,600 and resistance at 24,900.
In the banking space, the Bank Nifty demonstrated a strong move by breaking out of its prolonged consolidation phase. The index closed above the key resistance level of 55,800, indicating trend strength and setting the stage for fresh upside targets of 57,700 and 60,300. The immediate support now lies at 54,500, which needs to hold to continue this bullish momentum. The expected daily range for Bank Nifty is seen between 55,600 and 56,600.
Additionally, Bankex reaffirmed its bullish tone by sustaining above the crucial 20-day moving average support at 62,580 and closing above 63,200. A decisive move above 63,800 could further reinforce the positive bias, with several PSU and private banking counters looking poised for an uptrend.
