Daily Morning Report – 01/06/2026

Date 01.06.2026

NIFTY OUTLOOK: 23547.75    FII -21105.86cr    DII 16764.14 cr

(1st JUN – 5th JUN 2026)

As we discussed in the previous report dated 25th May 26 market behaviour remained on the expected lines during the week passed by as nifty has faced resistance on up move i.e. made a weekly high of 24090 (near to our resistance 24110) and slip from there to weekly low of 23484 and gave weekly close of 23547.75

Further a bearish candle appeared on weekly chart and strong bearish candle on daily chart of nifty suggest selling pressure at high for the nifty hence if nifty continue with its south ward journey may find support around 23357 to 23167. If nifty failed to defend these supports then it may slide further upto 22980 to 22790-753.

However for upside 23737 to 23927 may act as immediate resistance for nifty, if break-through above these resistances and sustain may push the nifty upto 24116 to 24307-343.

Bank Nifty OUTLOOK:   

SPOT:  54239.20 Pcr: 0.94 Max Ce OI on 60000 & Max Pe OI on 60000

On May 29, 2026, a Bank Nifty index was closed at 54239.20(-614.45) (-1.12%). The total movement in the index was 1068.30 during the trading session.  The index made a high of 55184.45 and a low of 54116.15.

Technical view:

Important support and resistance level of Bank nifty are 53800 and 55020 respectively.

Intraday Support and resistance of Bank nifty are 53900 and 54520 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 46.9. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 1 out of 8 SMA’s  (10, Day).

Bank nifty is trading below 7 out of 8 SMA’s (5,20,30, 50,100, 150, 200 Day).

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