Daily Morning Report – 08/06/2026

Date 08.06.2026

NIFTY OUTLOOK: 23366.70    FII -8776.25 cr    DII 9133.57 cr

(8th JUN – 12th JUN 2026)

As we discussed in the previous report dated 1st June 26 market behaviour remained on the expected lines during the week passed by as nifty has respected the our resistance of 23737 i.e. made a weekly high of 23733.7 on up side and slide from there to our support 23167 i.e. made a weekly low of 23151.5 on down side.

Further a bearish candle appeared on weekly chart of nifty suggest continuation of selling pressure and this south ward journey may find support around 23183 to 23000. If nifty failed to defend these supports then it may slide further upto 22816 – 22753 to 22631.

However for upside 23550 to 23735 may act as immediate resistance for nifty, if break-through above these resistances and sustain may push the nifty upto 23918 to 24101.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  54496.25  Pcr: 0.92 Max Ce OI on 60000 & Max Pe OI on 54000

On June 06, 2026, a Bank Nifty index was closed at 54496.25 (188.40) (0.35%). The total movement in the index was 724.90 during the trading session.  The index made a high of 54865.50 and a low of 54140.60.

Technical view:

Important support and resistance level of Bank nifty are 53990 and 55000 respectively.

Intraday Support and resistance of Bank nifty are 54295 and 54700 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 50.1. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 4 out of 8 SMA’s  (5, 10, 20, 50 Day).

Bank nifty is trading below 4 out of 8 SMA’s (30, 100, 150, 200 Day).

One Bullish active Candlestick Pattern was identified in bank nifty on daily chart.

• Spinning Top Uptrend

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549