Daily Morning Report – 06/08/2026

Date 06.08.2026

NIFTY OUTLOOK: 24624.65   FII -943.42 cr    DII 2883.17 cr

As discussed yesterday market behaviour remained on the expected lines during the day, nifty failed to breakout 24675 (day High 24677.6) and slip from there to day low of 24497.95 i.e. near to our support of 24494, thus after respecting both the side nifty has give closing near to its previous closing.

Further a small bearish candle with lower wick which has save its previous low and closed above its previous close suggest buyers trying to maintain its control over the nifty hence if nifty will succeed to get supportive buying then on decisively breakout of 24683 it may rally further upto 24741 to 24800. If more demand will accentuate then it may have chances to test 24861.

Furthermore past three days movement shows lower highs on daily chart that suggest buyers are pausing before advancing higher this may attract small selling which may find support around 24566 to 24507. If nifty failed to defend these supports then it may slide further upto 24449 to 24391.

Bank Nifty OUTLOOK:                                                                                             

SPOT:  57739.95  Pcr: 0.83 Max Ce OI on 58000 & Max Pe OI on 58000

On August 5, 2026, a Bank Nifty index was closed at 57739.95 (-167.25) (-0.29%). The total movement in the index was 475.50 during the trading session.  The index made a high of 57931.85 and a low of 57456.35.

Technical view

Important support and resistance level of Bank nifty future are 57200 and 58300 respectively.

Intra Day support and resistance level of Bank Nifty Future are 57700 and 57960 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 53.6. 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 (Spot)

Bank Nifty (Spot)

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549