Daily Morning Report – 02/04/26

Date 02.04.2026

NIFTY OUTLOOK: 22679.40 FII -8331.15 cr    DII 7171.80 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as oversold territory on RSI has attract bounce upto 22941.

Further a bearish candle appeared on daily chart of nifty that slide down from intraday top favour the bears and any further slide from here may find support around 22551 to 22423. If nifty failed to defend these supports then it may slide further upto 22296 to 22170.

Furthermore this candle opened up in gap and close above its previous closing may give chances to bulls also and any up move from here may found resistance around 22807 to 22935. If break-through above these resistances and sustain may push the nifty upto 23063 to 23190.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  51448.65 Pcr: 0.84 Max Ce OI on 60000 & Max Pe OI on 60000

On April 01, 2026, a Bank Nifty index was closed at 51448.65 (1173.30) (2.33%). The total movement in the index was 892.30 during the trading session.  The index made a high of 52025.85 and a low of 51133.55.

Technical view                                        

Important support and resistance level of Bank nifty are 50700 and 53100 respectively.  

Intraday Support and resistance of Bank nifty are 51203 and 51694 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 34.6. Below 30 is considered oversold and above 70 overbought.  

Bank nifty Day SMA Analysis

Bank nifty is trading above 0 out of 8 SMA’s .

Bank nifty is trading below 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150 Day).

Two Bullish active Candlestick Pattern was identified in bank nifty on daily chart.

• Harami Uptrend
• Long Legged Doji Uptrend

Macro

1.Dollar index is @ 99.76.

2.Vix is @ 24.54 ( -2.81%).

3.Crude is @ 103.85 % .

Note : U.S. President Donald Trump told the nation in a ‌televised speech on Wednesday night that the U.S. military had nearly accomplished its goals in Iran, but he declined to offer a concrete timeline for winding down the conflict.

Facing a war-wary American public, sliding approval ratings and pressure from some allies to outline his war aims in more precise and consistent terms, Trump said the U.S. had destroyed Iran’s navy and air force, and crippled its ballistic missile and nuclear programs.

But he glossed over some unresolved issues that remain during his 19-minute speech, such as the status of Iran’s enriched ​uranium and access through the Strait of Hormuz, a conduit for global oil supplies which Iran has effectively closed since the U.S. and Israel launched the war on February 28.

And he notably suggested the war could escalate if Iranian leaders did not capitulate to U.S. terms during negotiations, with strikes on Iran’s energy and oil infrastructure possible.

Conclusion : War will continue for some more days & that will have impact on Inflation & economies across the world .

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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