- Summary:
- Sensex and Nifty 50 rise on May 6 as markets react to earnings and global cues. Can the rally hold ahead of the Fed decision?
Indian markets opened positively on Monday, May 6, as benchmark indices extended last week’s upward momentum. The Sensex climbed to 80,661.62 in early trade, while the Nifty 50 opened higher at 24,419.50.
This upbeat start comes after the Nifty 50 spent most of the previous week trading in a tight 600-point range. Today’s action raises hopes of a breakout, with bulls looking to reclaim higher ground before the FOMC policy decision later this week.
Sensex Price Today, May 6: Can Bulls Break Through 81,000?
Sensex opened firm this morning, but it’s bumping into resistance just under the 81,000 mark; that level’s clearly making traders nervous. The recent run-up has been steady, but not explosive, and today’s candle shows hesitation. You can see how it’s grinding higher from the April base, but the move feels tired. If it clears 81,000 and holds, there’s room toward 82,700.
If not, there’s a real risk of a pullback to around 78,500, a zone that’s been sticky before. Right now, bulls are in control, but they’re not getting a free ride.
Nifty 50 Price Today: Index Coils Under Resistance Near 24,500
Nifty is attempting to break free from its recent 600-point range, and early trade suggests bulls are testing the upper band. The index has held above 24,000 for most of last week, and today’s push toward 24,500 brings it within reach of 24,800–25,300, which are the next technical barriers.
Momentum indicators are leaning bullish, but the index is still over 1,800 points away from its all-time high. A clean breakout and close above 24,600 will be needed to signal strength. For now, it’s still range-bound, but the pressure is building.
Conclusion
It’s a strong start to the week, but no one’s calling it a breakout just yet. There’s still a lot on the table, earnings, global moves, and that Fed decision coming up. For now, markets are holding up well, but traders aren’t getting ahead of themselves.