Market prediction for Tomorrow 5 June: Today all indices in the Indian market ended in green with minor gains. While some expected a strong follow-up to yesterday’s fall, today’s price action felt more like slow accumulation from support levels.
Nifty opened gap-up and held its gains throughout the session. However, intraday movement remained narrow, with Nifty trading in a tight 100-point range. India VIX fell, dragging down premiums—making it another dull day for option buyers, especially those holding deep ITM strikes.
Although the movement was rangebound, the charts are sending mixed signals. Some signs indicate a reversal; others still suggest caution. This is typical of a sideways market, where traders often see what they want to see.
That’s why we rely on data and price structure, not bias. Let’s break down the key technical and data for Market Prediction for 5 June.
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Market Overview – A Pause Before the Action
🔍 Technical Analysis – Is This Pause Significant?
On the daily timeframe, Nifty formed a Bullish Harami pattern, typically seen as a potential reversal signal—and notably, this candle formed right at a key support zone.
Also, after any big fall (like Monday’s ~300-point drop), markets often pause for 1–2 sessions. Today looked like such a pause day.
Key Levels:
- Support: 24,530
- Resistance: 24,650
RSI {14}
- Daily Time Frame: RSI at 52 → signaling a sideways trend
- Hourly Time Frame: RSI bounced from 35 to 45, and can head toward 60 → indicating short-term bullish strength
📊 Open Interest (OI) Data
OI data today reflects a potential tug-of-war near 24,600.
- Support: (PE OI: ) 24,500 PE – 94 Lakh OI, 24,600 PE – 1.05 Cr OI
- Resistance: (CE OI: ) 24,700 CE – 93 Lakh OI, 24,600 CE – 1.11 Cr OI
👉 This makes 24,600 a key make-or-break level for tomorrow. Whichever side gives in, the move will likely be fast.
🧮 OI Build-Up:
| Index | PRICE % | OI % | BUILDUP |
| NIFTY | +0.19% | +2.85% | Long Buildup |
| BANK NIFTY | +0.10% | +1.51% | Long Buildup |
| FINNIFTY | -0.07% | -16.61% | Long Unwinding |
- 📌 Nifty and Bank Nifty show bullish undertone, while FINNIFTY weakness may be attributed to caution ahead of the upcoming RBI Policy announcement.
🧠 Market Prediction for Tomorrow 5 June & Trade Plan
As per the candlestick logic of a Harami pattern:
- Bullish confirmation only comes if price sustains above the pattern’s high → Above 24,650
- Bearish continuation resumes if price breaks the pattern’s low → Below 24,560
🎯 Trading Plan:
- Bullish bias above 24,650 (target 24,800+)
- Bearish or sideways below 24,560 (target 24,400–24,300)
Also, with VIX falling, premiums will stay low. This scenario often leads to short covering rallies—watch for quick moves once price breaks the range.
📘 Key Learning from Today’s Market
- Bullish Harami is a signal, not confirmation — wait for follow-through.
- Sideways RSI indicates indecision — avoid heavy overnight positions.
- VIX crash = low premiums — great for sellers, not for option buyers.
Will Nifty open gap up or gap down tomorrow (5 June)?
With VIX crashing and tight price range, a flat to small gap-up is more likely — but don’t rely on it for direction.
Is it safe to trade tomorrow based on today’s signals?
It’s safer above 24,650 or below 24,560. Until then, it’s a rangebound zone. Wait for confirmation, especially on expiry day.
What are the key support and resistance levels for 5 June?
Support: 24,530
Resistance: 24,650
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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