Date 02.06.2026
NIFTY OUTLOOK: 23382.60 FII -3911.68 cr DII 5109.13 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as nifty were facing selling pressure at high which drift down the nifty upto day low of 23357.95
Further a bearish candle appeared on daily chart of nifty suggest continuation of selling pressure hence if nifty decisively breakdown 23306 then it may slide further upto 23230 to 23155. If more supply will accentuate then it may have chances to test 23078.
However for upside 23460 to 23535 may act as immediate resistance for nifty, if break through above these resistances and sustain may push the nifty upto 23613 to 23687.
Bank Nifty OUTLOOK:
SPOT: 53643.10 Pcr: 0.85 Max Ce OI on 60000 & Max Pe OI on 60000
On Jun 01, 2026, a Bank Nifty index was closed at 53643.10(-596.10) (-1.10%). The total movement in the index was 1112.75 during the trading session. The index made a high of 54582.75 and a low of 53470.
Technical view:
Important support and resistance level of Bank nifty are 53450 and 54650 respectively.
Intraday Support and resistance of Bank nifty are 53335 and 53950 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 43. 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, 200 Day).
No active Candlestick Pattern was identified in bank nifty on daily chart.
Important Pivot Point Levels for Today
Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 22873.38 | 23115.67 | 23249.13 | 23491.42 | 23624.88 | 23867.17 | 24000.63 |
Bank Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 52101.73 | 52785.87 | 53214.48 | 53898.62 | 54327.23 | 55011.37 | 55439.98 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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