Daily Morning Report – 07/07/2026

Date 07.07.2026

NIFTY OUTLOOK: 24430.35   FII 243.03 cr    DII 3791.42 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as continues positive sentiments take the nifty rally upto 24458.65.

Further a bullish candle appeared on daily chart of nifty suggest continuation of bullish sentiments hence if nifty successfully taken out 24487 then it may rally further upto 24541 to 24597. If more demand will accentuate then it may have chances to test 24651.

However for down side 24375 to 24320 may act as immediate supports for the nifty, if break through below these supports and sustain may drift down the nifty upto 24263 to 24209.

Bank Nifty OUTLOOK:

SPOT:  58291.50  Pcr: 0.89 Max Ce OI on 60000 & Max Pe OI on 58000

On July 06, 2026, a Bank Nifty index was closed at 58291.50 (353.00) (0.61%). The total movement in the index was 538.65 during the trading session.  The index made a high of 58477.30 and a low of 57938.65.

Technical view:

Important support and resistance level of Bank nifty are 57680 and 58460 respectively.

Intraday Support and resistance level of Bank nifty are 58140 and 58440 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 64.6. 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