Daily Morning Report – 02/03/26

NIFTY OUTLOOK: 25178.65 | FII: Rs. -7536.36 cr. | DII: Rs. 12292.81 cr.
(2nd – 6th March 2026)

As discussed in the previous report dated 23rd February 2026, market behaviour remained on expected lines during the past week. Nifty faced selling pressure on the upside and slipped to a weekly low of 25141.3.

A long bearish candle on both the weekly and daily charts suggests continuation of weak sentiment. If Nifty continues its southward journey, it may find support around 25018–24857. Failure to defend these supports could drag the index further towards 24697–24536.

On the upside, 25340–25500 may act as immediate resistance. A breakout and sustained move above these levels may push Nifty towards 25661–25821.

Bank Nifty OUTLOOK:

Spot: 60529.00 | PCR: 0.99 | Max CE OI: 61000 | Max PE OI: 61000

On 27th February 2026, Bank Nifty closed at 60529.00, down 658.70 points (-1.08%). The total movement during the session was 647.50 points, with a high of 61086.45 and a low of 60438.95.

Technical View:

Important support and resistance levels are 60670 and 61670, respectively.

Intraday support and resistance are placed at 60351 and 60707.

The RSI for Nifty Bank stands at 50.7. Below 30 is considered oversold, while above 70 is overbought.

Bank nifty Day SMA Analysis:

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

Bank nifty is trading below 3 out of 8 SMA’s ( 5, 10, 20 Day).

No Candlestick Pattern was identified in bank nifty on daily chart.

Important Pivot Point Levels for Today                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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