Daily Morning Report – 06/03/26

NIFTY OUTLOOK: 24765.90 | FII: Rs. -3752.52 cr. | DII: Rs. 5153.37 cr.

As discussed yesterday, market behaviour remained on expected lines during the day, as diminishing selling pressure and positive divergence helped buyers push the Nifty rally up to 24854.2.

A bullish candle appeared on the daily chart of Nifty, suggesting continuation of the near-term uptrend, which may face resistance around 24855 to 24947. A break-through above these resistances with sustained momentum may push Nifty towards 25035 to 25125.

However, on the downside, 24677 to 24587 may act as immediate support for Nifty. If it breaks below these supports and sustains, the index may drift down to 24500 to 24408.

Bank Nifty OUTLOOK:
SPOT: 59055.85 | PCR: 0.89 | Max CE OI on 62000 | Max PE OI on 59000

On March 5, 2026, the Bank Nifty index closed at 59055.85, up 300.60 points (0.51%). The total movement in the index was 767.95 during the trading session, with a high of 59274.35 and a low of 58506.40.

Technical View:

Important support and resistance levels for Bank Nifty are 58300 and 59500, respectively.

Intraday support and resistance are placed at 58845 and 59267.

The Relative Strength Index (RSI) for the Nifty Bank index stands at 39.4. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 2 out of 8 SMA’s (150, 200 Day).

Bank nifty is trading below 6 out of 8 SMA’s (5, 10, 20, 30, 50, 100 Day).

Two Candlestick Pattern was identified in bank nifty on daily chart.

• Long Legged Doji Uptrend
• Spinning Top Uptrend

Important Pivot Point Levels for Today

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549