Indian stock market indices, Sensex and Nifty 50, are expected to open on a muted note on May 30, 2025, mirroring weak cues from global markets.

Global Market Influences

The trends on Gift Nifty also point towards a flat start for the Indian benchmark index. On May 30, 2025, Gift Nifty was trading around the 24,943 level, showing a premium of approximately 1 point from Nifty futures' previous closing. Most European markets are trading positively, for instance, France's CAC 40 and Germany's DAX are up, reflecting optimism in global equities, potentially supporting Indian market sentiment. U.S. pre-market futures are also sharply higher, with Nasdaq and S&P 500 Futures advancing, indicating a strong global risk appetite that could extend to Asian markets.

Recap of Previous Day's Performance

On May 29, 2025, the domestic equity market closed higher, with Nifty 50 settling above the 24,800 level. The Sensex increased by 320.70 points, a 0.39% rise, closing at 81,633.02, while the Nifty 50 ended with an 81.15 points gain, up 0.33%, to close at 24,833.60.

Foreign portfolio investors (FPIs) continued as net buyers of Indian equities for the fifth consecutive session on Thursday, with purchases worth ₹884 crore. Domestic institutional investors (DIIs) also remained net buyers for the eighth straight session, buying equities worth ₹4,286.5 crore.

Nifty 50 Technical Analysis and Outlook

Nifty 50 formed a Long-Legged Doji pattern on the daily timeframe, reflecting indecision. A classic Doji candle was formed, indicating a lack of clear direction as it continued to hover below key resistance. The index is expected to remain in a consolidation phase in the short term, with immediate support at 24,600 and resistance between 24,900 and 25,000.

Kotak Securities' Shrikant Chouhan noted that the Sensex took support near 81,100 and bounced back sharply, forming a reversal formation on daily charts near the 20-day SMA (Simple Moving Average), which is largely positive. He anticipates that 81,200 and 80,900 will act as key support zones for traders. Sustaining above these levels increases the likelihood of reaching 82,200 – 82,600. However, a break below 80,900 could shift the sentiment, prompting traders to exit long positions.

According to Hardik Matalia, Derivative Analyst at Choice Broking, Nifty Open Interest (OI) data indicates the highest concentration on the call side at the 24,900 and 25,000 strike prices, suggesting strong resistance levels at these points. On the put side, significant OI build-up is observed at the 24,800 and 24,700 strike prices, marking these levels as key support zones.

Sensex Prediction

The Sensex is likely to find immediate resistance at 81,800, with support at 81,000. A sustained move above 81,800 could trigger further upside momentum, potentially opening the path for a short-term rally. Conversely, a break below 81,000 may invite additional downside pressure, with the next key support seen near 80,500.

Trading Strategies and Stock Recommendations

Ajit Mishra from Religare Broking suggests that the rally in Nifty reinforces the ongoing consolidation view in the market, with immediate support at 24,600. He recommends focusing on stock selection and accumulating fundamentally strong stocks during the consolidation phase, as ample short-term trading opportunities are available across sectors.

Several analysts have recommended specific stocks for May 30, 2025. Sumeet Bagadia from Choice Broking recommends Jindal Steel & Power Ltd, while Ganesh Dongre from Anand Rathi has suggested multiple stocks, and Shiju Koothupalakkal from Prabhudas Lilladher has also provided stock picks, including Bharat Electronics Ltd and Tata Consultancy Services Ltd.

Market Sentiment and Key Factors

Market sentiment remains cautiously optimistic, with analysts suggesting a positive bias as long as Nifty holds above 24,500. Factors supporting positive momentum in the market include expectations of a rate cut in the upcoming monetary policy outcome, forecasts of above-normal monsoon by the Indian Meteorological Department (IMD), and Brent crude prices remaining in a downward trajectory.

Overall, the Indian stock market is expected to exhibit range-bound trading with potential for sector rotation and stock-specific movements, influenced by global cues, Q4 results, and macroeconomic indicators.