Date 08.07.2026
NIFTY OUTLOOK: 24398.70 FII 393.19 cr DII -383.43 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as continuous bullish sentiments take the nifty rally upto 24530.9 i.e. near to our resistance of 24541.
Further a bearish candle appeared on daily chart of nifty suggest profit booking at high hence if further profit booking will persist then nifty may slide upto 24291 to 24237 on decisively breakdown of 24345. If more supply will accentuate then it may have chances to test 24183.
However for upside 24453 to 24509 may act as immediate resistance for nifty, if break through above these resistances and sustain may push the nifty upto 24561 to 24615.
Bank Nifty OUTLOOK:
SPOT: 58200.70 Pcr: 0.88 Max Ce OI on 60000 & Max Pe OI on 59000
On July 07, 2026, a Bank Nifty index was closed at 58200.70 (-90.80) (-0.16%). The total movement in the index was 471.00 during the trading session. The index made a high of 58581.10 and a low of 58110.10.
Technical view:
Important support and resistance level of Bank nifty are 57680 and 58890 respectively.
Intraday Support and resistance level of Bank nifty are 58070 and 58330 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 63.5. 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.
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 |
| 24139.52 | 24244.23 | 24321.47 | 24426.18 | 24503.42 | 24608.13 | 24685.37 |
Bank Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 57542.5 | 57826.3 | 58013.5 | 58297.3 | 58484.5 | 58768.3 | 58955.5 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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