Daily Morning Report – 04/03/26

NIFTY OUTLOOK: 24865.70 | FII: Rs. -3295.64 cr. | DII: Rs. 8593.87 cr.

As discussed yesterday, market behavior remained on expected lines. Continued selling pressure dragged Nifty sharply lower to 24603.

A bullish candle appeared on the daily chart, suggesting buyers made efforts to defend lower levels. The RSI on the daily chart is nearing the oversold zone, which may attract a bounce. On the upside, Nifty may face resistance around 24947–25027. A breakout and sustained move above these levels could push it towards 25110–25190.

However, overall sentiment remains bearish. Any further decline may find support around 24785–24703. A break and sustained move below these levels could drag Nifty down to 24621–24541.

Bank Nifty OUTLOOK:
Spot: 59839.65 | PCR: 1.00 | Max CE OI: 61000 | Max PE OI: 61000

On March 2, 2026, Bank Nifty closed at 59839.65, down 689.35 points (-1.14%). The total movement during the session was 1029.50 points, with a high of 60177.50 and a low of 59148.00.

Technical View:

Important support and resistance levels are 59450 and 60250, respectively.

Intraday support and resistance are placed at 59557 and 60123.

The RSI for Nifty Bank stands at 44.1. Below 30 is considered oversold, and above 70 is overbought.

Bank nifty Day SMA Analysis

Bank nifty is trading above 3 out of 8 SMA’s (100, 150, 200 Day).

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

No 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