Nifty outlook today

 


On Wednesday, June 4, 2025, the Nifty 50 index closed at 24,620.20, marking a gain of 77.7 points or 0.32%, effectively snapping a three-day losing streak. This rebound was supported by positive global cues and renewed investor interest in sectors like metals and oil & gas. ([outlookmoney.com][1])


### Key Highlights:


* **Golden Cross Formation**: The Nifty 50 chart displayed a 'Golden Cross' pattern, where the 50-day moving average crossed above the 200-day moving average. This technical indicator is often seen as a bullish signal, suggesting potential for continued upward momentum. ([business-standard.com][2])


* **Sectoral Performance**: Sectors such as metals and oil & gas led the gains, while the realty sector underperformed. 


* **Bank Nifty Movement**: The Nifty Bank index closed at 55,676.85, up by 0.14%. Notably, HDFC Bank's stock closed above its 30-day moving average, indicating strength in the banking sector. ([moneycontrol.com][3])


### Market Outlook:


Analysts suggest that the Nifty 50 has strong support around the 24,500 level. The recent 'Golden Cross' formation adds to the positive sentiment, although some caution is advised due to potential profit booking at higher levels. ([livemint.com][4], [business-standard.com][2])


Overall, the market sentiment appears cautiously optimistic, with technical indicators pointing towards a potential continuation of the upward trend, provided key support levels are maintained.



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