Date 03.07.2026
NIFTY OUTLOOK: 24175.70 FII -311.82 cr DII 1784.40 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as nifty opened near our breakout level 24065 i.e. open at 24062.2 and from there buyers take the nifty rally near to our level of 24183 i.e. made a day High of 24194.55.
Further a bullish candle appeared on daily chart of nifty suggest continuation of buying pressure hence if nifty decisively breakout 24233 then it may rally further upto 24291 to 24348. If more demand will accentuate then it may have chances to test 24407.
However for down side 24118 to 24061 may act as immediate supports for the nifty, if break through below these supports and sustain may drift down the nifty upto 24003 to 23945.
Bank Nifty OUTLOOK:
SPOT: 58031.65 Pcr: 0.87 Max Ce OI on 60000 & Max Pe OI on 58000
On July 02, 2026, a Bank Nifty index was closed at 58031.65 (-1.40) (-0.00%). The total movement in the index was 511.5 during the trading session. The index made a high of 58396.10 and a low of 57884.60.
Technical view:
Important support and resistance level of Bank nifty are 57720 and 58630 respectively.
Intraday Support and resistance level of Bank nifty are 57890 and 58175 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.
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 |
| 23955.73 | 24007.27 | 24091.48 | 24143.02 | 24227.23 | 24278.77 | 24362.98 |
Bank Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 57300.63 | 57592.62 | 57812.13 | 58104.12 | 58323.63 | 58615.62 | 58835.13 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
Leave A Comment