Based on the 15-minute candlestick chart of NIFTY Futures ending on 5 June 2025, hereโs a technical outlook:
๐ Nifty Futures Technical Outlook โ 5 June 2025
Key Observations:
- Price Level: 24,612
- Recent Range: Price has been oscillating between 24,450 and 24,750 since May 30.
- Structure: A base seems to be forming around 24,550โ24,580, showing consolidation.
- Volatility: Intraday volatility has decreased, especially after the dip on June 3.
- Trend Bias: Near-term bias appears neutral to mildly bullish due to:
- Higher lows from June 4.
- Sideways to slightly upward bias visible toward June 5 morning.
Support Levels:
- 24,550 โ Minor intraday support.
- 24,500โ24,480 โ Stronger support zone based on bounce activity.
- 24,450 โ Critical support; breakdown here could invite a sharp fall.
Resistance Levels:
- 24,650โ24,670 โ Immediate hurdle (tested multiple times).
- 24,700โ24,750 โ Previous swing highs.
- 24,800+ โ Bullish continuation zone.
๐ฎ Intraday Outlook (5 June 2025):
Direction | Bias | Entry Area | Target 1 | Target 2 | SL |
---|---|---|---|---|---|
Buy | Cautious Bullish | 24,580โ24,600 | 24,650 | 24,700 | 24,540 |
Sell | Only below 24,540 | 24,520โ24,540 | 24,470 | 24,420 | 24,580 |
Suggestion: Avoid aggressive positions until a breakout above 24,670 or breakdown below 24,540.
โ ๏ธ Market Sentiment Note:
- The flat close and tight range suggest market participants are awaiting a major trigger or news (possibly policy-related or global cues).