Date 04.08.2026
NIFTY OUTLOOK: 24774.30 FII 922.26 cr DII 1571.18 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as nifty continued with its north ward journey and made a high of 24774.3
Further a strong bullish candle appeared on the daily chart of nifty suggest excessive bullishness and prices are reached at high levels which may attract profit booking. Hence if any profit booking will persist may find support around 24718 to 24661. If break below these supports and sustain may drift down the nifty upto 24605 to 24548.
Furthermore this candle also indicts continuation of positive sentiments. There is no sign of reversal yet but continuation of the rally may find immediate resistance around 24831 to 24887. If break-through above these resistances and sustain may push the nifty upto 25945 to 25022.
Bank Nifty OUTLOOK:
SPOT: 58247.95 Pcr: 0.88 Max Ce OI on 58000 & Max Pe OI on 58000
On August 3, 2026, a Bank Nifty index was closed at 58247.95 (983.10) (1.72%). The total movement in the index was 782.00 during the trading session. The index made a high of 57465.95 and a low of 58247.95.
Technical view
Important support and resistance level of Bank nifty are 57060 and 58600 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 58.6. 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.
Two Bullish active Candlestick Pattern was identified in bank nifty on daily chart.
- Closing Marubozu Uptrend
- Long Line Uptrend
Important Pivot Point Levels for Today:
Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 24342.38 | 24428.77 | 24601.53 | 24687.92 | 24860.68 | 24947.07 | 25119.83 |
Bank Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 56944.62 | 57205.28 | 57726.62 | 57987.28 | 58508.62 | 58769.28 | 59290.62 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
Leave A Comment