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Indian stock market indices, Sensex and Nifty 50, are expected to begin Thursday’s session on a flat note, taking direction from mixed signals in global markets.

Early indicators from GIFT Nifty suggest a subdued start for the Indian market, with the index hovering near 24,740 — about 11 points above the previous close of Nifty futures.

In the previous session on Wednesday, domestic markets bounced back after three consecutive days of losses, closing with gains.

The Nifty closed 70 points higher, while the Sensex rose by 260 points. In terms of sectors, the Digital index gained 1.35%, while some financial stocks faced intraday profit-booking at

higher levels.

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said, "Nifty rebounded yesterday, though momentum stocks lagged. Mid-cap (+0.89%) and Small-cap (+0.79%) indices showed strength,

while RVNL (+6.4%) and Uno Minda (+2.85%) outperformed in the F&O space. Aditya Birla Fashion slumped 10.73% on news of Flipkart planning to offload its 6% stake. Positive global cues, FII

buying (Rs 1076 crore), and hopes around Trump-Xi talks and the US-Canada deal suggest Nifty may stabilise.

"Key triggers ahead include the RBI policy on June 6 and the US Fed meet on June 17–18. Technically, Nifty remains resilient but must break 24851 to confirm strength. Buy-on-dips strategies

are favoured, with JSW Energy, ABB, Bank of India, Policy Bazar, and RVNL on the bullish radar," added Tapse.

Also, after a muted opening yesterday, the market showed signs of recovery from its lower levels. However, it is still trading below the 20-day Simple Moving Average (SMA) of 24,700, which

is generally considered a negative sign.

Shrikant Chouhan, Head of Equity Research, Kotak Securities, said, "We believe that the current market structure is non-directional, and the intraday trend indicating range-bound activity is

likely to continue in the near future."

"For traders, key levels to watch are 24,450 and 24,700. A move above the 20-day SMA or 24,700 could lead to a rally toward the levels of 24,760 to 24,850. Conversely, if the market falls

below 24,450, it may experience increased selling pressure, potentially slipping to the levels of 24,350 to 24,300," added Chouhan.

"For the Bank Nifty, support is at 55,300 and resistance is at 55,800. A break above 55,800 could push the market up to 56,000 and 56,150 again. Conversely, a break below 55,300 may lead to

a retest of the 55,000–54,900 levels," he added.

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