Daily Morning Report – 05/02/26

NIFTY OUTLOOK: 25776.00 FII 29.79 cr DII 249.54 cr

As discussed yesterday, market behaviour remained on the expected lines, as after a volatile session Nifty closed with its bullish momentum intact.

Further, a bullish candle appeared on the daily chart of Nifty, suggesting continuation of bullish sentiment, which may push the index towards 25887 to 26000. A sustained break above these resistance levels may trigger a further rally towards 26110 to 26221.

On the downside, 25665 to 25553 may act as immediate support for Nifty. A decisive break below these levels and sustained selling pressure may drag the index towards 25443 to 25331.

Bank Nifty Outlook

Spot: 60238.15
PCR: 1.06
Max CE OI: 60000
Max PE OI: 60000

On 4th February 2026, Bank Nifty closed at 60238.15, up 196.85 points (0.33%). The index witnessed a total intraday movement of 497.65 points, recording a high of 60389.40 and a low of 59891.75.

Intraday support and resistance are placed at 60101 and 60375, respectively.

Technical View:

Key support and resistance levels for Bank Nifty are 59670 and 60725, respectively.

Intraday support and resistance are placed at 60101 and 60375, respectively.

The RSI for Bank Nifty stands at 57.2, indicating a neutral-to-positive momentum. Below 30 is considered oversold, while above 70 is overbought.

Bank nifty Day SMA Analysis

Bank nifty is trading above 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150, 200 Day).

Bank nifty is trading below 0 out of 8 SMA’s.

One Candlestick Pattern was identified in bank nifty on daily chart.

• Long Legged Doji Uptrend

Macros

1.Dollar index is @ 97.65

2.Vix is @ 18.64

3.Brent crude is @ 68.10

4.US 10 years bond yield is @ 4.265

Note:
U.S. President Donald Trump’s decision to slash tariffs on Indian imports sparked a relief rally across Indian markets, improving sentiment among exporters and policymakers, even as details of the agreement remain limited. Trump announced a trade deal with India on Monday, reducing tariffs on Indian goods to 18% from 50%, in exchange for India halting Russian oil purchases and lowering trade barriers.

According to Indian government officials, India has agreed to purchase petroleum, defence equipment, and aircraft from the U.S., while partially opening its agriculture sector. New Delhi has also lowered tariffs on imported cars to meet Washington’s immediate demands and agreed to provide zero tariffs on industrial goods imported from the U.S.

Meanwhile, the U.S.–Iran meeting, scheduled to be held in Turkey on Friday, was cancelled and may be rescheduled in Oman, with the date yet to be announced. Following this development, bullion and metal prices corrected, while crude oil prices also cooled slightly, slipping from around $70.

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)SEBI Regd. No. INH00019549