Date 02.09.2026
NIFTY OUTLOOK: 24055.80 FII 1143.38 cr DII 1846.94 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as war between buyers and sellers cause oscillate the nifty between 24143.15 on upside and 23952.55 i.e. near to our support of 23957 on downside. Finally gave closing near to its previous closing i.e. closed at 24055.8
Further a high wave candlestick pattern appeared on daily chart of nifty near to bottom marked of 24000 suggest tug of war between buyers and sellers i.e. indecision about nifty direction. Buyers absorbed the intraday selling pressure below 24000 and advance back the price near to its open favour the bulls. Hence if nifty successfully taken out 24097 then it may rally upto 24140 to 24183. If more demand will accentuate then it may have chances to test 24223.
Furthermore this candle also indicts present downward momentum losing its stream and pause before further downtrend movement. It is near to bottom and making lower low and closed below previous close favour the bears. Hence resumption of sellers will take down the nifty upto 23971 to 23930 on decisively breakdown of 24213. If more supply will accentuate then it may have chances to test 23888.
Bank Nifty OUTLOOK:
SPOT: 57409.60 Pcr: 1.05 Max Ce OI on 57500 & Max Pe OI on 57500
On September 01, 2026, a Bank Nifty index was closed at 57409.60 (-615.35) (-1.06%). The total movement in the index was 615.55 during the trading session. The index made a high of 57766.25 and a low of 57150.70.
Technical view:
Important support and resistance level of Bank Nifty Future are 57545 and 58500 respectively.
Intra Day support and resistance level of Bank Nifty Future are 57417 and 57756 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 48.3. Below 30 is considered oversold and above 70 overbought.
Bank nifty Day SMA Analysis
Bank nifty is trading above 2 out of 8 SMA’s (100, 150 Day).
Bank nifty is trading below 6 out of 8 SMA’s (5, 10, 20, 30, 50, 200 Day).
No active Candlestick Pattern was identified in bank nifty on daily chart.
Important Pivot Point Levels for Today
Nifty (Spot)
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 23767.25 | 23859.9 | 23957.85 | 24050.5 | 24148.45 | 24241.1 | 24339.05 |
Bank Nifty (Spot)
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 56502.57 | 56826.63 | 57118.12 | 57442.18 | 57733.67 | 58057.73 | 58349.22 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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