*Nifty 50 : Breakout Above ₹24,857 - Sideways to mild bullish bias with recent recovery from support near ₹24,378*- 05.06.2025 * Stock Exchange | NSE * Stock Name | Nifty 50 Index * CMP | ₹24,620.20 * Current Trend : Sideways to mild bullish bias with recent recovery from support near ₹24,378. * Trading Zone : Range-bound between ₹24,378 (support) and ₹24,857 (breakout resistance); awaiting confirmation. * Trade Suitability : Buy on breakout above ₹24,857 or on dip near ₹24,400 with strong volume support. Avoid aggressive shorts unless breakdown below ₹24,200. * Intraday Potential : Mild upward momentum; breakout above ₹24,700 may lead to short-term scalping opportunity up to ₹24,850–₹24,900. * Intraday View Based on Chart : Sideways-to-positive bias unless it breaches below ₹24,378. Avoid if it turns choppy with low volume. * Required Volume : Currently not satisfied. A breakout will need volume above 300M+ for strong confirmation. *Chart Outlook & Prediction* * Nifty is consolidating within a defined band after recent highs. Strong support lies at ₹24,378 while resistance at ₹24,857 caps the upside. Break above the upper Bollinger Band with volume could trigger a fresh bullish wave toward ₹25,300. Risk increases below ₹24,200—stay cautious. *Fundamental Catalyst* * Recent GDP numbers, steady FII inflows, and domestic earnings have supported the market. However, uncertainty over Fed policy and upcoming budget expectations are limiting breakout momentum. If macro data remains stable, Nifty may resume trend. Any geopolitical surprise or crude spike remains a risk. *Upcoming Events: Market Catalyst* * Positive: June IIP Data, Fed policy hint, pre-budget positioning * Negative: Global volatility, USD-INR weakness, bond yields rising *Support and Resistance Levels* * Support: ₹24,378 / ₹24,200 / ₹23,714 * Resistance: ₹24,857 / ₹25,000 / ₹25,300