Date 07.09.2026
NIFTY OUTLOOK: 23897.70 FII -3111.94 cr DII 8930.12 cr
(7th SEPT – 11th SEPT 2026)
As we discussed in the previous report dated 31st August 26 market behaviour remained on the expected lines during the week passed by as nifty breakdown the upward slopping supporting trend line and continued with its southward journey results into slide of nifty upto our support of 23793 i.e. nifty made a weekly low of 23786.8
Further a bearish candle appeared near to its multiple support zone of 23780-23815 on weekly chart of nifty suggest retesting of support and continuation of selling pressure. Hence if nifty continue with its south ward journey then on decisively breakdown of 23774 it may slide further upto 23651 to 23527. If more supply will accentuate then it may have chances to test 23405.
Furthermore this recent correction of nifty has found near term support on opening bullish gap formed on 27 July 26 on daily charts of nifty. If nifty successfully defended this support and successfully taken out immediate resistance of 24021 will shift the momentum in favour of bulls this potentially fueling a rally towards 24145 to 24267. If more demand will accentuate then it may have chances to test 24391.
Bank Nifty OUTLOOK:
SPOT: 57369.65 Pcr: 1.03 Max Ce OI on 57500 & Max Pe OI on 57500
On September 04, 2026, a Bank Nifty index was closed at 57369.65 (-10.95) (-0.02%). The total movement in the index was 352.6 during the trading session. The index made a high of 57677.15 and a low of 57324.55.
Technical view
Important support and resistance level of Bank Nifty Future are 57529 and 58020 respectively.
Intra Day support and resistance level of Bank Nifty Future are 57701 and 57848 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 48.2. 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 |
| 23750.55 | 23823.2 | 23860.45 | 23933.1 | 23970.35 | 24043 | 24080.25 |
Bank Nifty (Spot)
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 56884.48 | 57104.52 | 57237.08 | 57457.12 | 57589.68 | 57809.72 | 57942.28 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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