Date 03.09.2026
NIFTY OUTLOOK: 23914.45 FII 6688.37 cr DII 2812.98 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as resumption of sellers take down the nifty upto 23786.8, small recovery from there and CAS has give closing of 23914.45.
Further a bullish candle with lower wick appeared after long correction on daily chart of nifty and near to its multiple support zone suggest buying pressure from support. Hence if nifty succeed to get supportive buying then it may rally upto 24005 to 24050 on decisively breakout of 23960. If more demand will accentuate then it may have chances to test 24097.
Furthermore there is no sign of reversal but this candle near to its multiple support and after a long correction suggest interruption and slow down to its present downward movement. Hence any downward moment from here may find support around 23870 to 23823, break below these supports and sustain may drift down the nifty upto 23777 to 23733.
Bank Nifty OUTLOOK:
SPOT: 57172.00 Pcr: 1.05 Max Ce OI on 57500 & Max Pe OI on 57500
On September 02, 2026, a Bank Nifty index was closed at 57172.00 (-237.60) (-0.41%). The total movement in the index was 397.9 during the trading session. The index made a high of 57221.10 and a low of 56823.20.
Technical view:
Important support and resistance level of Bank Nifty Future are 57222 and 58175 respectively.
Intra Day support and resistance level of Bank Nifty Future are 57388 and 57601 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 45.5. 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 |
| 23701.7 | 23744.25 | 23829.35 | 23871.9 | 23957 | 23999.55 | 24084.65 |
Bank Nifty (Spot)
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 56525.2 | 56674.2 | 56923.1 | 57072.1 | 57321 | 57470 | 57718.9 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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