Sensex Prediction for Monday, June 1: Bulls on back foot! Experts see cautious start to week; check support, resistance levels to watch – Markets

Falling for the third consecutive session, the 50-share NSE Nifty dived 359.40 points, or 1.50 per cent, to end at 23,547.75.

Sensex gainers and losers on Friday, May 29

Sensex Prediction for Monday, June 1 by experts

Market experts believe the benchmark index has entered a vulnerable phase after breaking important technical levels.

According to SEBI-registered analyst Vipin Dixena, the Sensex has entered a technically weak phase after a sharp breakdown below crucial resistance levels.

“Sensex has turned technically weak after a sharp breakdown below the 75,800 resistance and 50 EMA. The structure now reflects lower highs and fresh bearish momentum, indicating that bulls are losing short-term control,” Dixena stated.

He further noted that the Relative Strength Index (RSI) has slipped near oversold territory, highlighting strong downside momentum, though chances of a temporary pullback cannot be ruled out.

Dixena warned, “If 74,800 support fails to hold, the index may drift toward 74,200–74,000, while any recovery attempt is likely to face resistance near 75,800. Overall bias has shifted bearish in the near term with caution advised on aggressive long positions.”

Echoing similar concerns, Hitesh Tailor, Technical Research Analyst at Choice Broking, said Friday’s trading session reflected a decisive reversal from higher levels after the benchmark failed to sustain near the 76,200 mark.

Tailor said, “On 29th May 2026, the BSE Sensex closed at 74,775.74, declining sharply by -1,109.05 points (-1.44%), as heavy profit booking and broad-based selling pressure weighed on market sentiment throughout the session. The index opened gap up by around 120 points at 75,988.51 and touched an intraday high of 76,220.02 during the initial minutes of trade. However, the market failed to sustain at higher levels and witnessed continuous selling pressure across the session. Selling intensified in the latter half, dragging the Sensex towards an intraday low of 74,589.11 before finally settling at 74,775.74, reflecting weak market sentiment and risk-off mood among investors.”

Sector-wise, Information Technology, Focused IT, and Telecommunication sectors managed to show relative resilience and outperformed during the session. On the other hand, Oil & Gas, Metal, Utilities, Hospitals, Energy, Auto, Commodities, Services, FMCG, Consumer Durables, Financial Services, Consumer Discretionary, and Top 10 Banks witnessed sharp selling pressure and broad-based weakness. Banking indices, Capital Goods, Industrials, and Power sectors also traded under pressure, indicating widespread profit booking across the broader market, the analyst noted.

Based on current technical signals, Tailor expect the Sensex to open on a cautious note on Monday, with traders closely monitoring the 74,000-74,200 support zone.

“Technically, Sensex witnessed a sharp reversal from higher levels after failing to sustain near the 76,200 zone, indicating strong resistance at higher levels. The index closed near the day’s low, which reflects persistent bearish pressure and weak short-term momentum,” he said.

He further stated the immediate support is now placed around 74,000–74,200, while resistance is seen near 75,300–75,500. A sustained move below the support zone may trigger further weakness, while recovery above resistance could help improve short-term sentiment.

For Monday’s trading session, Tailor said, “The overall market bias has turned cautious to negative in the short term as sharp selling pressure and failure to hold higher levels indicate weakening momentum. Closing near the day’s low reflects bearish sentiment and continued profit booking across the market. Traders may remain cautious in the near term, while stock-specific volatility is likely to remain high unless Sensex stabilizes above key support levels.”

Sectoral performance on Friday

The BSE SmallCap Select index tanked 1.26 per cent and MidCap Select index dropped 0.73 per cent.

Among sectoral indices, Oil & Gas tumbled 2.75 per cent, Metal (2.30 per cent), Utilities (2.23 per cent), Hospitals (2.16 per cent), Energy (2.08 per cent), Commodities (1.94 per cent), Auto (1.90 per cent) and Services (1.58 per cent).

IT, Telecommunication and Focused IT were the gainers.

A total of 2,599 stocks declined, while 1,670 advanced and 194 remained unchanged on the BSE. On the weekly front, the BSE benchmark dropped 639.61 points, or 0.84 per cent, and the Nifty declined 171.55 points, or 0.72 per cent.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,042.70 crore on Wednesday, according to exchange data.

The June-September southwest monsoon rainfall over India is expected to be 90 per cent of the long-period average with a model error of 4 per cent, the India Meteorological Department said on Friday. While the Northeast is likely to witness normal rainfall this monsoon season, the remaining parts of the country may see below normal rainfall, the weather office said.

LPA refers to the rainfall recorded over a particular region for a given interval, such as a month or season, averaged over a long period of time, typically 30 to 50 years.

On Wednesday, the Sensex declined 141.90 points, or 0.19 per cent, to settle at 75,867.80. The Nifty skidded 6.55 points, or 0.03 per cent, to end at 23,907.15.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)