_Morning Snippet:- 05th June 2025_ *Index Observation* Nifty continued to remain in the range we have been observing for the past 14 trading day. The index has been static within a 2% band, however the highs of 25000 has been constantly providing supply on index longs. Downside target of 24300 / 24100 remains open unless a closing above 25050 is not confirmed. On daily charts, the index has also formed a bearish head and shoulder pattern pointing out to similar targets. Bank Nifty has faced rejection from its previous all-time highs above 56k mark in Tuesday’s trading session. Any trade below 55400 is likely to allow further skidding on the index for lower levels seen near 54700 / 54500 as the supply pressure is likely to mount post rejection seen earlier this week. Nifty’s weekly expiry is scheduled for today while the market can break the ongoing range after tomorrow’s RBI’s rate decision. *Interesting Observation* Earlier this week, Silver posted its strongest single-day gain in over a year, its highest daily move since May 2024. This surge brings the metal closer to its 52-week high, reigniting investor interest in this precious metal. A ratio chart comparing Silver to the Bloomberg Commodity Index (BCOM) shows a breach of a five-year falling trendline. The BCOM Index, whose major constituents include COMEX Gold (17.27%), NYMEX Natural Gas (9.1%), and ICE Brent Crude Oil (6.46%), represents a broad benchmark of global commodity performance. Silver outperforming this diversified index signals noteworthy underlying strength. A breakout in silver could act as a catalyst for stocks in the metals and mining space. Given this technical development, Silver’s price action warrants close monitoring in the near term. *DERIVATIVES | Trade Setup* Cash Market Activity FII: ₹ 1076 crore DII: ₹ 2,566 crore *Week-to-Date (WTD)* FII: ₹ -4,367 crore DII: ₹ 13,787 crore *Month-to-Date (MTD)* FII: ₹ -4,367 crore DII: ₹ 13,787 crore *F&O Cues* FIIs have added 700 long contracts in last trading session. Their net position now stand at 103k short contracts. In the options segment, the 24500 strike to act as support, while the 25000 strike remains a key resistance. *New 52 Week High Low Data* *Large Cap:* New 52 Week Highs: 1 New 52 Week Lows: 1 *Mid Cap:* New 52 Week Highs: 3 New 52 Week Lows: 1 *Small Cap:* New 52 Week Highs: 4 New 52 Week Lows: 1 *NIFTY500:* New 52 Week Highs: 8 New 52 Week Lows: 3