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 expecta...