Date 04.06.2026
NIFTY OUTLOOK: 23416.55 FII -4447.06 cr DII 4360.14 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as bearish sentiments take the nifty down upto our support of 23250 i.e. made a day low of 23247.3 and recovered from there upto 23465.3 and finally close near to its previous close i.e. closing of 23416.55.
Further a small bullish candle appeared on daily chart of nifty which has defended opening bullish gap formed on 8th April 26 and previous low this suggests reduction in selling pressure. Hence if nifty get supportive buying then on decisively breakout of 23491 it may rally upto 23567 to 23640. If more demand will accentuate then it may have chances to test 23715.
However sentiments remain bearish hence if nifty decisively breakdown 23341 then it may slip further upto 23267 to 23193. If more supply will accentuate then it may have chances to test 23118.
Bank Nifty OUTLOOK:
SPOT: 54307.85 Pcr: 0.92 Max Ce OI on 60000 & Max Pe OI on 60000
On Jun 05, 2026, a Bank Nifty index was closed at 54307.85 (121.90) (0.22%). The total movement in the index was 631.60 during the trading session. The index made a high of 54461 and a low of 53829.40.
Technical view:
Important support and resistance level of Bank nifty are 52830 and 54650 respectively.
Intraday Support and resistance of Bank nifty are 54130 and 54500 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 41.70. 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 |
| 23069.47 | 23158.38 | 23287.47 | 23376.38 | 23505.47 | 23594.38 | 23723.47 |
Bank Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 53306.23 | 53567.82 | 53937.83 | 54199.42 | 54569.43 | 54831.02 | 55201.03 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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