
By: Naresh Sharma | Date : Jun 3, 26
| Category | Net Value |
|---|---|
| DII | +9,589.32Cr |
| FII/FPI | -8,362.92Cr |
| INDIA VIX | 16.18(+5.34%) |
As of 10:20 (IST)
| ADVANCE | 931 |
| DECLINE | 2025 |
As of 10:17 (IST)
| Nifty 50 | 23405.6(-0.33%) | Nifty Bank | 54185.95(0.88%) |
| Sensex | 74346.17(-0.41%) | India Vix | 16.28(6.01%) |
| Nifty50 Gainers | Nifty50 Losers | ||
| APOLLOHOSP | 2.59% | TCS | -8.25% |
| TMPV | 2.00% | TECHM | -6.45% |
| INDIGO | 1.88% | HCLTECH | -5.31% |
| MAXHEALTH | 1.72% | INFY | -3.96% |
| SBIN | 1.55% | WIPRO | -2.83% |
Nifty 50 experienced a volatile session, starting the day in the red at 23,415.95 and plunging to an intraday low of 23,151.50 before partially recovering in afternoon trade to finish at 23,405.60. The index closed down by 0.33%, from its previous daily close of 23,483.55. This downturn was triggered by global macro headwinds, including rising Brent crude prices, which climbed above $100 per barrel due to fresh US-Iran geopolitical tensions, and a weakening Indian Rupee nearing 95.2. Domestically, the index faced an intense drag from a nearly 5% crash in the Nifty IT sector, led by steep declines in major tech stocks like TCS, Infosys, following institutional profit booking and renewed US Federal Reserve rate-hike fears driven by strong US JOLTS job openings data.
Bank Nifty traded with positive bias and gained 471.30 points to settle the day at the level of 54,185.95. Buying in private and public banking stocks helped offset weakness in the broader market, but a sharp sell-off in information technology shares continued to weigh on benchmark indices.Most banking stocks moved into the green. Federal Bank led gains among Bank Nifty constituents, rising 2.73%, followed by Union Bank of India, which gained 2.47%. Canara Bank, Punjab National Bank, State Bank of India, Bank of Baroda and ICICI Bank advanced between 1% and 1.4%.But Index is stil facing resistance at 54,300. Only sustained trading above 54,300 would open the gates for further gain towards the level of 54760-54,800.
Nifty IT index experienced a severe crash of 5.557% to settle around 29,384.45 and abruptly snapping a robust three-day gaining streak. This reversal effectively erased most of the previous session’s massive 4.26% surge, triggered by heavy institutional profit-booking and unfavorable global macroeconomic data. Freshly released US JOLTS job openings data showed unexpectedly high strength, reinforcing fears that the US Federal Reserve will maintain a higher interest rate stance, a major negative for high-growth tech sectors. The sell-off was broad-based and dragged down every major index heavyweight; Tech Mahindra closed down by 6.31% and TCS by 8.39%, while HCL Technologies tumbled over 5% and Infosys by over 3%, making technology the worst-performing sector of the day and the primary anchor on the broader benchmark indices.
Nifty traded with subdued momentum and failed to sustain the 24,500 level. Thus, index is looking below the mark of 23,500. Thus the index may further plunge towards the level of 23,300-23,270.Only if the index rises above the mark of 23,500, we could see the index surging towards the mark of 23,800.

| INDICES | CLOSING | %CHANGE | SUPPORT | RESISTANCE |
| NIFTY | 23,405.60 | -0.33% | 23,000 | 23,800 |
| BANK NIFTY | 54,185.95 | 0.88% | 53200 | 54380 |
| SECTORIAL INDICES | ||||
| NIFTY IT | 29,384.45 | -5.57% | 29,000 | 31,940 |
| NIFTY PHARMA | 24,086.60 | 0.33% | 24,000 | 25,000 |
| NIFTY AUTO | 26,092.80 | 0.05% | 25,485 | 27,100 |
| NIFTY REALTY | 762.6 | -1.39% | 730 | 800 |
| NIFTY ENERGY | 40,196.85 | 0.02% | 40,000 | 42,590 |
| NIFTY FMCG | 48,123.95 | -1.01% | 48,140 | 49,000 |

Nifty declined -0.33%, opening at 23,415.95 and witnessing a highly volatile session. The index came under heavy selling pressure during the first half, hitting an intraday low of 23,151.50, where strong buying interest emerged. A sharp recovery followed, pushing the index close to the day’s highs before it settled at 23,405.60. Despite the rebound, the trend remains sideways to bearish as Nifty continues to trade below its 200DMA, 30DMA, and 11DMA, indicating that the broader structure remains weak. The RSI at 41.41 suggests subdued momentum, though the recovery from lower levels indicates buyers are defending key support zones. Immediate resistance is placed at 23,650-23,850, while support lies at 23,250-23,000. A sustained move above 23,650 could improve sentiment, whereas a break below 23,250 may trigger fresh selling pressure.

Bank Nifty gained +0.88%, opening at 53,541.10 and initially witnessing selling pressure that dragged the index to an intraday low of 53,027.15. Buyers then stepped in aggressively, leading to a strong recovery of over 1,250 points from the lows. The index crossed above the 11DMA, hit an intraday high of 54,299.35, and eventually closed strong at 54,185.95. While the trend remains sideways to bearish, the sharp recovery indicates improving short-term momentum. Bank Nifty continues to trade below its 200DMA and 30DMA, though it has reclaimed the 11-DMA. The RSI at 47.57 has improved notably and is approaching neutral territory. Immediate resistance is placed at 54,350-54,650, while support is seen at 54,000-53,450. A breakout above 54,350 could extend the recovery, while a fall below 54,000 may weaken sentiment again.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY50 | 23000 | 23850 | Sideways to Bearish |
| BANK NIFTY | 53450 | 54650 | Sideways to Bearish |

Nifty Mid Select (Midcap Nifty) slipped -0.64%, opening at 14,216 slightly above the 30DMA, but persistent selling pressure pushed the index to an intraday low of 13,959.50, causing it to break below the 30DMA. However, buyers emerged near the lower support zone, helping the index recover and close at 14,149.05. The broader trend remains sideways to bullish, though the short-term structure has weakened as the index now trades below its 11DMA and 30DMA, while remaining above the 200DMA. The RSI at 49.45 has slipped below the neutral mark, signaling weakening momentum. Immediate resistance is placed at 14,400-14,550, while support is seen at 14,050-13,900. A decisive break below 13,900 could shift the trend from bullish to bearish, whereas reclaiming 14,400 would improve the outlook.

Nifty IT witnessed a sharp correction of -5.57%, opening gap-down at 30,563.20 and extending its decline throughout the session. As anticipated from yesterday’s caution regarding a potential pullback, the index faced heavy profit booking and slipped to an intraday low of 29,301, before closing at 29,384.45. The trend has shifted to sideways, and the coming sessions will be crucial to determine whether buyers return at lower levels. Despite the sharp decline, the index remains above its 11DMA and 30DMA, though it continues to trade below the 200DMA. The RSI at 50.08 remains near neutral, suggesting momentum has cooled significantly after the recent rally. Immediate support is placed at 28,800-28,400, while resistance is seen at 30,400-31,050. Holding above 28,800 could attract fresh buying interest, while a move above 30,400 would be needed to revive bullish momentum.
| INDICES | SUPPORT | RESISTANCE | TREND |
| NIFTY MID CAP SELECT | 13900 | 14550 | Sideways to Bullish |
| NIFTY IT | 28400 | 31050 | Sideways |
| PRODUCT | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
| NIFTY50 | 22910 | 23031 | 23218 | 23339 | 23526 | 23647 | 23834 |
| BANKNIFTY | 52103 | 52565 | 53376 | 53837 | 54648 | 55110 | 55920 |
| FINNIFTY | 24157 | 24344 | 24650 | 24837 | 25143 | 25330 | 25636 |
| MIDCPNIFTY | 13736 | 13848 | 13998 | 14110 | 14261 | 14373 | 14524 |
| NIFTYNXT50 | 68272 | 68701 | 69279 | 69708 | 70286 | 70716 | 71293 |
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| Category | Net Value |
|---|---|
| DII | +5,740.89Cr |
| FII/FPI | -5,616.56Cr |

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