Daily Morning Report – 02/07/2026

Date: 02/07/2026

NIFTY OUTLOOK : CMP 24005.85

Dear Friends,

As discussed yesterday market behaviour remained on the expected lines during the day, as nifty successfully surpassed its all resistances and rally exactly upto our target of 24050 i.e. made a day High of 24049.9

Further nifty struck under the consolidation from past two weeks and both the players i.e. buyers and sellers are made an efforts for their existence. a bullish candle appeared on daily chart of nifty suggest buyers put an efforts to take the nifty rally upto 24124 to 24183 on successful taken out 24065, stronger demand may push the nifty rally upto 24243.

However for down side 23947 to 23887 may act as immediate supports for the nifty, if break through below these supports and sustain may drift down the nifty upto 23828 to 23769.

Bank Nifty OUTLOOK:                                                                                             

SPOT:  58033.05  Pcr: 0.91 Max Ce OI on 60000 & Max Pe OI on 60000

On July 01, 2026, a Bank Nifty index was closed at 58033.05 (490.15) (0.85%). The total movement in the index was 646.3 during the trading session.  The index made a high of 58134.15 and a low of 57487.85.

Technical view:

Important support and resistance level of Bank nifty are 57720 and 58630 respectively.

Intraday Support and resistance level of Bank nifty are 57860 and 58210 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 63.2. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 8 out of 8 SMA’s  (5, 10, 20, 30, 50, 100, 150, 200 Day).

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

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

• Long Line Uptrend

Important Pivot Point Levels for Today:                                                                               

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549