Opening Bell: Indian Stock Market Update – 02 June 2025
By CapitalKeeper | Market Opening | Indian Equities | Market Moves That Matter
Nifty slips below opening gains, Bank Nifty remains resilient, global cues mixed
🔔 Market Snapshot (as of 10:00 AM IST)
| Index | Opening | Current Price | Trend |
|---|---|---|---|
| Nifty 50 | 24,609.70 | 24,562.00 | 🔻 Mildly Negative |
| Bank Nifty | 55,598.25 | 55,621.00 | 🔼 Slightly Positive |
| Fin Nifty | 26,645.00 | 26,459.00 | 🔻 Weakness Seen |
🌍 Global Market Cues
- US Markets ended mixed on Friday: Dow Jones was flat while Nasdaq gained marginally amid soft U.S. manufacturing PMI and dovish Fed commentary.
- Asian Markets are trading mixed: Nikkei up 0.25%, Hang Seng down 0.60%.
- SGX Nifty indicated a flat-to-negative start, aligning with early market action in Indian indices.
- Crude Oil trades near $79/bbl amid supply concerns from OPEC+ expectations.
- USD/INR stable at 83.12, and India bond yields hover around 7.02%.
🧭 Sector-Wise Early Trend
🔹 Nifty IT – Under Pressure
After a strong close on Friday, IT stocks are facing mild profit booking. Infosys and TCS both trade slightly in the red. Weak global tech sentiment is a drag.
🔹 Nifty Bank – Firm Support
Private banking names like ICICI Bank and Axis Bank are holding up the index. PSU banks trade sideways. Bank Nifty has shown strength above 55,600.
🔹 Nifty FMCG – Defensive Buying
Demand for defensive bets is evident. Stocks like HUL and Britannia are trading with a positive bias.
🔹 Nifty Auto – Mixed Moves
Hero MotoCorp is seeing intraday profit-booking while Tata Motors trades flat. Sector awaits monthly auto sales data.
🔹 Nifty Metal – Profit Booking
JSW Steel and Tata Steel under pressure due to weak China manufacturing data.
Technical View – 02 June 2025
Nifty 50
- Immediate support: 24,500
- Resistance: 24,750
- RSI: 58 (neutral territory)
- Price action suggests a range-bound day unless support breaks decisively.
Bank Nifty
- Support: 55,300
- Resistance: 56,000
- RSI: 61 (bullish bias)
- Higher low structure being maintained; intraday momentum is intact.
Fin Nifty
- Weakness below 26,500 is evident.
- RSI: 51, still in neutral zone but lacks bullish momentum.
🔥 Top 5 Intraday Stocks to Watch – 02 June 2025
1. ICICI Bank (CMP ₹1,434.00)
- Breakout above ₹1,460 may lead to quick upmove.
- Strong volumes, RSI bullish at 64.
- Ideal for banking sector-focused intraday traders.
2. Tata Consumer (CMP ₹1,108.10)
- Holding support zone of ₹1,101.
- Buying momentum in FMCG space; good for a reversal trade.
3. L&T (CMP ₹4,367.20)
- Triangle breakout observed on hourly chart.
- Target ₹4,450 with SL ₹4,325.
4. HDFC Life (CMP ₹773.45)
- Bullish MACD crossover visible.
- Financial services sector gaining traction.
5. Adani Ports (CMP ₹1,455.60)
- Forming a flag-and-pole setup.
- Volatility high, but risk-reward favorable for intraday breakout traders.
📝 Market Outlook Summary
The broader market is consolidating after Friday’s gains, and the Bank Nifty is showing early signs of relative strength. Traders should focus on sector rotation—especially in banking, FMCG, and infra-related stocks. Caution is advised in metal and IT sectors due to global headwinds.
Stay alert for midday reversals as global sentiment and domestic flows continue to dominate intraday trends.
🧠 Pro Tip for Today
“Avoid chasing gap-ups. Let the first 30–45 minutes settle the direction. Focus on breakouts from consolidation zones in high-beta sectors.”
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🧠 CapitalKeeper’s View
The market continues to show resilience. Traders should maintain a cautiously bullish outlook. Sector rotation is playing a major role, and volatility may increase toward F&O expiry. Focus on technically sound breakouts and avoid chasing extended rallies.
✅ Pro Tips for Today
Keep an eye on global economic events
Stick to support/resistance zones
Avoid over-leveraging on expiry week
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