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  1. Trade setup for June 2 : Will NIFTY50 continue its monthly upbeat in June too?

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Trade setup for June 2 : Will NIFTY50 continue its monthly upbeat in June too?

Upstox

3 min read | Updated on June 02, 2025, 08:28 IST

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SUMMARY

NIFTY50 and SENSEX continue their consolidation for the third consecutive session. Investors and traders expect the markets to break out of the consolidation range for the next directional move. The strong GDP numbers will remain a key trigger for the market on Monday.

The NIFTY50 index started the Thursday’s session on a positive note and extended the bullish momentum for the fourth session in a row. | Image: PTI

NIFTY50 closed the month with 1.7% gains in May. Image source: Shutterstock.

NIFTY50

Max call OI: 25,000

Max put OI: 24,400

(Ten strikes to ATM, 5th June expiry)

May 2025 ended on a positive note, marking the third consecutive month of uptick for the NIFTY50 index. May closed in green with 1.7% gains, but reported its third straight day of consolidation at the end of the week. NIFTY50 opened on a negative note on Friday following the weakness in Asian peers amid uncertainties over legal issues about Donald Trump’s reciprocal tariffs. With no other triggers, NIFTY50 ended Friday’s session marginally down, with a 0.3% loss.

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NIFTY50 continued its sluggish move for the third consecutive trading session; The daily chart shows 24690 as the strong immediate support, followed by 24490-24460 as the next support zone. On the contrary, now that the NIFTY50 has closed near its support, the resistance level at 24900, followed by 25100. Nifty-50_2025-05-30_15-52-07.webp On the options data front, the 25,000 calls hold the highest open interest for the 3rd June expiry, indicating a strong resistance at these levels. On the downside, the index holds the highest open interest at 24,400 puts, indicating strong support at these levels. nifty02june.webp

SENSEX

Max call OI: 82,000

Max put OI: 81,000

(Ten strikes to ATM, 3rd June expiry)

SENSEX closed in a Doji with a lack of activity and closed almost where it opened. SENSEX closed 0.2% down from the previous close i.e. in consolidation.

SENSEX_2025-05-30_15-52-22.webp On a weekly basis, the SENSEX hit its major resistance zone of 82300-82500 for the third consecutive week and reversed its course to close in the red. The SENSEX seems to be struggling at this multiple resistance zone. Going forward, 80840 followed by 80400 will act as the support for now. On the upside, the chart shows resistance at 82300 and 82500.

Stock scanner

Long buildup: Eternal, SBI

Short buildup: Hindalco, Bajaj Auto

Top traded futures contracts: Eternal, SBI, BSE

Top traded options contracts: SBI 780 PE, SBI 860 CE

F&O securities under ban: NIL

F&O securities out of ban: NIL

To access a specially curated smartlist of the most traded and active stocks, as well as the OI gainers and losers, simply log in: https://pro.upstox.com/ ➡️F&O➡️Options smartlist/Futures smartlist In Futures and Options or F&O, long build-up means an increase in Open Interest (OI) along with a price increase, and short build-up means an increase in Open Interest(OI) along with a price decrease. Source: Upstox and NSE.
Disclaimer: _Derivatives trading must be done only by traders who fully understand the risks associated with them and strictly apply risk mechanisms like stop-losses. The information is only for consumption by the client, and such material should not be redistributed. We do not recommend any particular stock, securities or strategies for trading. The securities quoted are exemplary and are not recommended. The stock names mentioned in this article are purely for showing how to do analysis. Take your own decision before investing _
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