Daily Morning Report – 06/04/2026

NIFTY OUTLOOK: 22713.10 FII -9931.13 cr    DII 7208.41 cr

(6th April  – 10th April 2026)

As we discussed in the previous report dated 30th March 26 market behaviour remained on the expected lines during the week passed by as nifty were bounce upto 22941 and from there slide down upto our support of 22210 i.e. made a weekly low of 22182.55.

Further after a back to back doji of previous two weeks a bullish spinning top candle appeared on weekly chart of nifty, thus three indecisive candles suggest strong indecision among nifty direction, but this candle observed after a long decline suggest diminishing of selling pressure, warning as a interruption in the prevailing bearish trend and change the sentiment to bullish hence if bulls will get supportive buying then nifty may rally upto 23095 – 23116 to 23317 on decisively breakout of 22915. If more demand will accentuate then it may have chances to test 23520.

However prevailing trend is bearish hence if bears will continue to lead nifty then on decisively breakdown of 22511 it may slip upto 22310 to 22109. If more supply will accentuate then it may have chances to test 21907.

Bank Nifty OUTLOOK:              

SPOT:  51548.75 Pcr: 0.85 Max Ce OI on 60000 & Max Pe OI on 60000

On April 02, 2026, a Bank Nifty index was closed at 51548.75 (100.10) (0.19%). The total movement in the index was 1777.10 during the trading session.  The index made a high of 51731.95 and a low of 49954.85.

Technical view :                                  

Important support and resistance level of Bank nifty are 49300 and 53100 respectively.

Intraday Support and resistance of Bank nifty are 51060 and 52037 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 35.1. 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 Day).

No active 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