The Indian stock market is projected to open lower on May 5, 2023, due to adverse global market signals and escalating tensions from the US-Iran conflict. On May 4, the Nifty 50 index closed at 24,119.30, up 121.75 points or 0.51%, while the Sensex rose 355.90 points or 0.46% to end at 77,269.40. Analysts suggest that the 77,000 mark will serve as a key support level for the Sensex, with potential upward movement towards 77,700 - 78,000 if it holds. Conversely, if it falls below 76,800, it could retest lower levels around 76,500 - 76,300. For the Nifty 50, the index is currently consolidating around 24,000, with a decisive move above 24,300 necessary to target levels of 24,600 - 24,800. Immediate support is noted at 23,900. The Bank Nifty, which closed at 54,878.50, faces immediate support in the 54,400 - 54,300 range, with potential declines towards 53,900 if this level is breached. Overall, market participants are advised to remain cautious amid ongoing volatility and global uncertainties.