Global markets, including the US, closed down as the Trump-Elon Musk dispute took center stage.  After Musk’s government contracts were threatened to be terminated by Trump, Tesla’s stock also fell 14%.  Asian stock markets had a mixed finish.  Significantly, the RBI MPC meeting today lowered the cash reserve requirement from 4% to 3% and the repo rate from 6% to 5.5%.  The RBI took this step to ensure financial stability, growth, and credit demand by bringing liquidity into the banking sector.  The market responded optimistically as a result.

The Gift Nifty was flat on Friday, suggesting that the Indian markets are off to a slow start.  The Nifty Index started the day at 24,748.70, which was less than the closing price of the day before.  Following the RBI’s reductions in the repo rate and cash reserve ratio, the Nifty rallied 1.02%, Bank Nifty 1.47%, and Sensex  0.92 %.

  The Nifty burst over all of the resistance levels and closed at 25,003 today, while the Bank Nifty reached its highest point ever, 56,578.  The Sensex is close to the second barrier level of 82,248, even though it broke beyond the first resistance level of 81,784 and finished at 82,188. In this overview, we will analyze the key technical levels and trend directions for Nifty, Bank Nifty, and BSE Sensex to monitor in the upcoming trading sessions. 

NIFTY 50 Chart & Price Action Analysis

The Nifty 50 Index opened at 24,748 and was trading below the previous day’s closing price of 24,750. It was trading above the 24,981 level in the morning session, made a low of 24,671, and broke the 20/50/100/200-day EMA  in the 15-minute time frame from low. In the afternoon session, the Nifty consolidated at 24,974 levels and traded at the 25,000 level.

Nifty’s immediate resistance levels are R1 (25,030), R2 (25,065), and R3 (25,115), while immediate support levels are S1 (24,962), S2 (24,897), and S3 (24,826) in the 30-minute time frame.  

The Nifty index made a day high at 25,029 and closed above yesterday’s resistance level 3 by breaking the 24,974 level, closing at 25,003, up by +252 points or +1.02%. The Relative Strength Index (RSI) stood at 60.03 (well below the overbought zone of 70) in the daily time frame, and Nifty 50 was above all  20/50/100/200 EMAs.

Bank Nifty Chart & Price Action Analysis

The Bank Nifty Index opened at 55,699 and was trading below the previous day’s closing price of 55,760. It was trading above the 56,584 level in the morning session, breaking the 20-day EMA (56,229) in the 15-minute time frame. It touched a day’s low at 55,534 and broke the 20/50/100/200-day EMA  in the 15-minute time frame from low. In the afternoon session, Bank Nifty closed above and traded at 56,584.

Bank Nifty immediate resistance levels are R1 (56,631) and R2 (56,695), while immediate support levels are S1 (56,453), S2 (56,161), and S3 (56,005) in the 30-minute time frame. 

The Bank Nifty index peaked at 56,695 and closed at 56,578, up by +817.5 points or +1.47%. The Relative Strength Index (RSI) stood at 67.45 (well below the overbought zone of 70) in the daily time frame, and Bank Nifty 50 was above all the 20/50/100/200 EMAs.

BSE Sensex Chart & Price Action Analysis

The BSE Sensex Index opened at 81,434 and was trading below the previous day’s closing price of 81,442. It was trading above the 82,151 level in the morning session, breaking the 20/50/100/200-day EMA in the 15-minute time frame from low. It touched a day’s low at 81,140. In the afternoon session, BSE Sensex closed above and traded at the 81,176 level.

BSE Sensex immediate resistance levels are R1 (82,258) and R2 (82,294),  while immediate support levels are S1 (82,076), S2 (81,794), and S3 (81,529). The BSE Sensex index peaked at 82,299 and closed at 82,188, up by +746.9 points or +0.92%. The Relative Strength Index (RSI) stood at 59.34 (well below the overbought zone of 70) in the daily time frame, and BSE Sensex was above the 20/50/100/200 EMAs.

Market Recap June 6th, 2025

The major reason for today’s strong recovery in the Indian market was the RBI’s move to cut the repo rate by 50 basis points to 5.50% and change its policy stance to neutral. The Nifty 50 gained 252.15 points, or 1.02%, during the day, opening above the 20-day EMA at 24,748.70, reaching a peak of 25,029.50, and closing at 25,003.05. The BSE Sensex, which opened at 81,434.24 and ended at 82,188.99, up 746.95 points, or 0.92%, also showed confidence.

Both indices were trading above all four 20/50/100/200 EMAs, with the Nifty 50 RSI at 59.98 and the BSE Sensex RSI at 59.27 (well below the overbought zone of 70) in the daily timeframe. Following the policy decision, the Nifty Bank index closed at 56,578.40, up 1.47%, after hitting an all-time high of 56,695.

The major gainer on the sectoral front was the Nifty Realty index, which crossed the 1,000 milestone after six months and closed at 1,039.60, up 46.50 points or 4.68%. Real estate stocks like DLF Ltd. and Godrej Properties Ltd. were the biggest gainers, jumping above 6%. This gain came after a significant rate drop that is expected to reduce property EMIs, which will directly benefit homeowners, especially those in low-income groups (LIG) and economically weaker sections (EWS).

The Nifty Private Bank index also remained the top gainer by 1.79%, or 490.10 points, closing at 27,832.50. Private banks like Axis Bank, RBL Bank, Bandhan Bank, and IDFC First Bank jumped up to 7%. The Nifty metal index also increased by 1.9%, major stocks like NALCO and Jindal Stainless Ltd increased by more than 3% each, and JSW Steel continued to be the biggest gainer, up 3.73%, among the top sectoral performers.

The Nifty Finance index grew by 1.75%, with ICICI Lombard leading with a 6.85% increase, followed by Muthoot Finance with a 6.61% gain and Shriram Finance with a 5.65% increase. The Nifty Media index was the only loser, falling -1.14%, or -19.65 points, to close at 1,705.75. The major laggards were Tips Music, Dish TV India, and PVR Inox, which fell up to -3%.

Asian markets saw a mixed response across the Asia-Pacific region today, remaining on a neutral tone. In contrast to the Hang Seng Index, which slid -0.48% or -114.43 points to close at 23,792.54, and the Shenzhen Index, which fell -0.19%, the Shanghai Stock Exchange was up 0.04%, and the Nikkei 225 Index was up 0.5%. The Dow Jones Futures increased 142 points, or 0.34%, on the US markets.

Trade Setup Summary:

The Nifty 50 Index Momentum remains positive after breaking key resistance and closing above all EMAs. Watch for a move above 25,030 for further upside; support at 24,962 for pullbacks.

The Bank Nifty has strong momentum, closing near the day’s high. Sustained trade above 56,631 can trigger further gains; watch 56,453 for support on dips. BSE Sensex maintains bullish structure, closing above resistance and all EMAs. Upside likely above 82,258; downside risk limited above 82,076.

All indices closed strong above key resistance levels and major EMAs with healthy RSI readings, indicating momentum remains positive. Traders should consider these key support and resistance levels to enter long or short positions following the price break from the key levels. Also, traders can combine moving averages for more accurate entry and exit points

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The post Nifty, Bank Nifty & BSE Sensex Action for 9th June 2025: Key levels & Trade setups appeared first on Trade Brains.