Nifty outlook today

 

As of the market close on Friday, May 30, 2025, the Nifty 50 index settled at 24,750.70, marking a decline of 82.90 points or 0.33%. This downturn was primarily attributed to profit booking and weakness in IT stocks, influenced by global economic concerns. Despite this, 109 stocks achieved 52-week highs, indicating underlying market strength .([ET Now][1], [5paisa][2], [mint][3])

**Technical Outlook:**

* **Support Levels:** Immediate support is observed at 24,700, with a stronger support zone around 24,500.

* **Resistance Levels:** Resistance is anticipated between 24,800 and 24,900.

* **Chart Patterns:** The formation of an "Inside candlestick" pattern suggests market indecision, indicating a potential consolidation phase in the near term .([ET Now][1])

**Market Sentiment:**

The market appears to be in a consolidation phase, with traders exhibiting caution due to the absence of significant domestic triggers. However, the broader trend remains positive, supported by expectations of robust Q4 GDP data and potential RBI interest rate cuts .([mint][3])

**Strategic Insights:**

* **Bullish Scenario:** Sustaining above the 24,500 level could pave the way for upward momentum towards 25,150 and potentially 25,500.

* **Bearish Scenario:** A breakdown below 23,900 may trigger further downside, targeting levels around 23,500 or lower .([Enrich Money][4])

In summary, while the Nifty 50 experienced a slight pullback, the overall market structure suggests a period of consolidation with a cautiously optimistic outlook. Investors are advised to monitor key support and resistance levels and stay attuned to global economic indicators that may influence market dynamics.([5paisa][2])