Gap Up or Gap Down on 3 June: Today’s market opened with a sharp gap-down. It quickly dropped nearly 200 points within the first 15 minutes. However, it surprised traders by staging a steady recovery throughout the day. The question lingers: Will we see a gap-up or a gap-down on 3 June opening?
In our daily market prediction blog, we rely on a data-driven approach to analyze the sentiment, patterns, and key indicators. Here’s a breakdown of today’s action and what to expect tomorrow.
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Market Overview – A Pause Before the Action
The market presented mixed signals — Nifty declined marginally, while Bank Nifty closed in green. A rising VIX hints at increased volatility ahead.
🔍 Technical Analysis – Stuck In Range?
Nifty formed a Long Leg Doji on the daily chart, a clear sign of market indecision. The day’s low near 24,500 held strong, suggesting temporary support. For prediction of gap up or gap down on 3 june, Let’s check other datas too.
Key Levels:
- Support: 24525, 24,460
- Resistance: 24,750, 24,900
RSI 14.
- Daily TF: RSI at 54.7, cooling off but not weak
- Hourly TF: RSI hit a low of 34, then reversed to 45 — a short-term bullish sign
Conclusion: The trend remains sideways unless either 24,460 or 24,900 is broken.
📊 Open Interest (OI) Data
Today was expiry day, so data is not conclusive. Fresh OI positions will start building on Friday.
- Support: (PE OI: ) 24,600 – 56 Lkh OI
- Resistance: (CE OI: ) 24,800 – 68 Lkh OI
🧮 OI Build-Up:
| Index | PRICE % | OI % | BUILDUP |
| NIFTY | -0.25 % | 3.22 % | Short Buildup |
| BANK NIFTY | 0.18 % | 3.58 % | Long Buildup |
| FINNIFTY | -0.59 % | 28.59 % | Short Buildup |
- 📌 Mixed OI signals — not enough conviction for a breakout.
🧠 Nifty 50 Prediction & Trade Plan
- From both price action and OI data, it’s evident that Nifty is trapped in a range.
- Market can be bullish till 24,900. and If broken, then a new Rally can be seen.
- India VIX spike warns to avoid heavy positions.
- A few days back, Nifty tapped the range high, but failed to break.
- Today, it tested the range low and reversed.
- Hourly RSI is bullish, while daily RSI is neutral to bearish.
Will Nifty open gap up or gap down on 3 June?
Based on today’s long-leg doji pattern, high India VIX (+6.72%), and mixed FII/OI signals, a small gap-down opening looks more probable on 3 June. However, global market cues and SGX Nifty movement will be key overnight indicators.
Is it safe to trade tomorrow based on today’s signals?
No, it’s not fully safe for heavy positions. The market is clearly stuck in a range and VIX has spiked, indicating possible volatility. Focus on small trades, quick scalps, and avoid directional bets until a range breakout happens.
What are the key support and resistance levels for 3 June?
Support: 24,525 and 24,460
Resistance: 24,750 and 24,900
If Nifty breaks above 24,900, the uptrend may continue. But if 24,460 breaks, a deeper correction can’t be ruled out.
📘 Key Learning from Today’s Market
- 📌 A Long Leg Doji at support signals indecision — trade with caution.
- 📌 Hourly RSI can give short-term signals even when daily is range-bound.
- 📌 Rising VIX demands tighter stop-losses and low exposure.
Disclaimer:
This blog post is intended solely for educational purposes. All information shared here is based on publicly available data, news reports, and personal analysis.
We do not provide any buy or sell recommendations. Investment in stock markets is subject to market risks. Always consult with a SEBI-registered financial advisor before making any investment decisions.
The author and this website assume no responsibility for any financial losses or gains incurred based on the information provided in this article.
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