Daily Morning Report – 06/07/2026

NIFTY OUTLOOK: 24270.85   FII 1355.33 cr    DII -1953.89 cr

(6th JUL – 10th JUL 2026)

As we discussed in the previous report dated 22nd June 26 market behaviour remained on the expected lines during the week passed by as sellers test the level of 23829.20 but failed to drift it down further as counter attack of buyers take the rally upto our level of 24390 i.e. made a weekly high of 24378.15.

Further a bullish candle with lower wick and previous three weeks candle with higher high formation appeared on weekly chart of nifty suggest buyers strength, hence if  nifty successfully taken out 24433 then it may rally further upto 24595-24633 to 24757. If more demand will accentuate then it may have chances to test 24920.

However for down side 23946 to 23783 may act as immediate supports for the nifty. If nifty failed to defend these supports then it may slip further upto 23621. An imminent support of 24108 may find between the big move of 24270.85 – 23946.

Bank Nifty OUTLOOK:

SPOT:  57938.50  Pcr: 0.84 Max Ce OI on 60000 & Max Pe OI on 58000

On July 03, 2026, a Bank Nifty index was closed at 57938.50 (-93.15) (-0.16%). The total movement in the index was 544.2 during the trading session.  The index made a high of 58343.25 and a low of 57799.05.

Technical view:

Important support and resistance level of Bank nifty are 57680 and 58200 respectively.

Intraday Support and resistance level of Bank nifty are 57790 and 58090 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 62.1. Below 30 is considered oversold and above 70 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.

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

Important Pivot Point Levels for Today:

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549