Indian equity markets are expected to trade in a range-bound manner on Friday, 5 June, as investors remain cautious ahead of the RBI Monetary Policy Committee outcome.
Sentiment is likely to stay subdued in early trade amid mixed global cues, while stock-specific action in the broader market may continue to provide support.
Stock Market Outlook Today, 5 June 2026: Sensex, Nifty Prediction Amid RBI MPC Decision on Friday
Indian benchmark indices ended largely flat on 4 June after opening lower amid mixed global cues. The market witnessed a mild recovery during the session and remained largely sideways throughout the day. Buying interest was visible across cash market stocks, particularly in the midcap and small cap segments, which helped support broader market sentiment despite muted movement in the benchmark indices.
Overall market sentiment remained cautious ahead of the RBI Monetary Policy announcement scheduled for June 5, while persistent FII selling continued to limit upside momentum and cap recovery attempts.
At the close, the Nifty ended nearly flat, gaining 10.95 points or 0.05% to settle at 23,416.55, while the Sensex advanced 13.84 points to close at 74,360.01.
Market participants will closely track the RBI policy announcement scheduled for 10 am on Friday, which is expected to provide crucial cues on interest rates, inflation outlook, growth projections, and currency stability. The outcome is likely to set the tone for the next directional move in the market.
“Indian equities are likely to remain range-bound in the near term amid a mix of domestic and global developments. Investors will closely monitor the outcome of the RBI’s Monetary Policy Committee meeting 10am on Friday, which is expected to provide important cues on the interest rate, inflation outlook, economic growth and currency stability,” Siddhartha Khemka – Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd
Nifty Prediction Today, 5 June 2026: Check Technical Outlook By Bajaj Broking Research
Nifty has continued to show consolidation for the third straight session, recovering from lower levels and sustaining above the 23,400 mark. The index formed a bullish candlestick pattern on the daily chart, indicating range-bound movement and stock-specific participation from the midcap and small cap space.
According to Bajaj Broking Research, buying interest was seen from the key support zone of 23,200-23,000, which continues to act as a strong base for the index. The outlook suggests that Nifty is likely to extend consolidation in the range of 23,000-23,550 in the near term.
“Going ahead, index is likely to extend consolidation in the range of 23,000-23,550. Only a move above Tuesday high 23,556 will open upside towards the resistance area of 23,750-23,800 levels in the coming sessions being the confluence of the current week high and 20 days EMA,” stated Bajaj Broking Research.
On the downside, Nifty has key support placed in the 23,200-23,000 range, which aligns with the lower band of the recent consolidation zone and key technical retracement levels.
Bank Nifty also continued its upward bias for the third consecutive session, forming higher highs and higher lows on the daily chart. The index is indicating continuation of its pullback from key support zones, though overall momentum remains range-bound.
Bajaj Broking Research expects Bank Nifty to consolidate in the range of 52,500-55,500, with a breakout or breakdown required for a clear directional trend. Key support is placed in the 52,700-52,500 zone, while resistance is seen near 55,000-55,500 levels.