What is Banknifty?
Banknifty is an index comprising 12 public and private banks with the highest market cap and most liquid from the Banking sector.
BANK NIFTY
NSE
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Short term - Technical Outlook
Bank Nifty continues to display comparatively better resilience, but remains largely range-bound within the broader 57,000–58,000 region, with the latest technical readings indicating neutral momentum and continued consolidation. On the upside, 57,700–57,800 remains the immediate resistance zone, followed by the crucial 58,000 level. A sustained breakout above 58,000 could strengthen buying momentum and open the way towards 58,300–58,500. Until then, the broader structure is likely to remain capped by supply at higher levels.
On the downside, 57,300–57,200 remains the immediate support region, followed by 57,000 zone. A decisive break below 57,000 could weaken the current consolidation structure and trigger fresh selling pressure towards 56,800–56,600. Momentum indicators remain mixed to neutral. Overall, the near-term outlook for Bank Nifty remains cautious and range-bound.
Short term Research Report Call
Buy Above: 57400 | Targets: 57500, 57600, 57700 | Stop-loss: 57300
Sell Below: 57200 | Targets: 57100, 57000, 56900 | Stop-loss: 57300
Short term Chart
Long term - Technical Outlook
Bank Nifty continues to display relative strength but faces resistance at higher levels. Holding above 57,500 will be crucial to maintain stability, while a break below this level could drag the index towards the 57,300–57,200 region. Technically, 58,000 remains the key resistance zone, and a sustained breakout above this level could strengthen bullish momentum. Overall, the near-term outlook remains cautious.
Long term Research Report Call
Buy Above: 57400 | Targets: 57500, 57600, 57700 | Stop-loss: 57300
Sell Below: 57200 | Targets: 57100, 57000, 56900 | Stop-loss: 57300
Long term Chart
September 4th 2026
Indian markets opened on a firm note, tracking positive global and Asian cues, with early buying interest supporting the benchmarks. However, the initial gains remain measured as elevated crude oil prices continue to weigh on the broader market outlook. WTI crude is trading around the $92-a-barrel mark, while uncertainty surrounding the U.S.-Iran conflict continues to temper risk appetite and limit the scope for a sustained recovery in domestic equities.
Meanwhile, the Indian rupee has remained relatively stable around the 94.4 level, supported by RBI measures and improved dollar liquidity. However, persistently elevated crude prices continue to pose a downside risk to the currency, keeping oil prices and rupee movements among the key factors shaping domestic market sentiment.
Technical View
Nifty 50
Nifty 50 opened on a steady note near the 23,911 mark but continues to trade below the crucial 24,000 psychological level. The index remains under pressure as it struggles to reclaim this key threshold. Until a sustained move above 24,000 is established, the near-term sentiment is likely to remain weak, with recovery attempts vulnerable to selling pressure at higher levels.
On the downside, the 23,800 zone remains the immediate and crucial support level. Holding above this region will be important to prevent further weakness, while a decisive break below 23,800 could intensify selling pressure and expose the index to lower support levels. Momentum indicators also remain weak, with the RSI hovering near the 40 mark, indicating subdued momentum and continued bearish pressure. Overall, the near-term technical outlook remains cautious.
Bank Nifty
Bank Nifty opened marginally higher near the 57,493 mark and continues to trade within the broader 57,000–58,000 range. The index remains range-bound, with the 57,700–57,800 region acting as the immediate resistance zone. However, unless Bank Nifty manages to deliver a decisive close above the crucial 58,000 level, the broader structure is likely to remain capped by supply at higher levels.
On the downside, the 57,300–57,200 region remains the immediate support zone. While a decisive break below 57,200 could increase selling pressure and expose the index to the lower end of the broader range. Momentum indicators remain subdued, with the RSI hovering near 48, indicating weak-to-neutral momentum. Overall, the near-term technical outlook remains cautious.
Market support level is 57,300. Market resistance level is 57,800.
Resistance 57,800
Support 57,300
FII & DII Activities
Particular
FIIs
DIIs
Net Purchase/ Sales (Cr)
3 Sep 2026
-2,345.87
+4,977.46
MTD-May (Cr)
September
+5,485.88
+9,637.38
Global Market
September 7th 2026
NASDAQ
USA
26,506.99
7th September
Dow Jones
USA
53,414.25
7th September
FTSE
UK
10,831.09
7th September
DAX
GERMAN
26,046.4
7th September
GIFT Nifty
Singapore
23,884.5
7th September
NIKKEI 225
Japan
66,280.79
7th September
Shanghai
China
3,920.7
7th September
S&P 500
USA
7,718.6
7th September
September 7th 2026
Top Gainers
PKTEA
963.15
ESDS
1,090.05
ALKALI
78.66
VHLTD-RE1
0.68
Top Losers
AXISBANK
1,268.1
YESBANK
22.39
HDFCBANK
710.5
KOTAKBANK
423.1
Technicals
Check live levels for all scripts
Buy Above
57776.33
R1
57915.34
R2
58060.66
R3
58319.72
Stop Loss
57612.05
Pivot
57675.23
(All values are in INR)
Sell Below
57574.14
S1
57435.13
S2
57289.80
S3
57030.75
Stop Loss
57738.42
Classic
Woodie
Camarilla
| Method | R4 | R3 | R2 | R1 | Pivot | S1 | S2 | S3 | S4 |
|---|---|---|---|---|---|---|---|---|---|
| Classic | 59149.55 | 58728.32 | 58307.08 | 58096.47 | 57675.23 | 57464.62 | 57043.38 | 56832.77 | 56622.15 |
| Woodie | 59623.44 | 58833.62 | 58359.74 | 58201.77 | 57727.89 | 57569.92 | 57096.04 | 56938.07 | 55832.34 |
| Camarilla | 58233.37 | 58059.61 | 58001.69 | 57943.77 | 57675.23 | 57827.93 | 57770.01 | 57712.09 | 57538.33 |
Bullish
Bearish
5 Day
48472.98
10 Day
46368.54
20 Day
45179.57
50 Day
43798.86
100 Day
42786.03
200 Day
41477.90
Moving averages sentiment chart. Bullish 12. Bearish 0.
Momentum Oscillators
Bullish
0
Bearish
1
Neutral
6
Bullish
0
Bearish
1
Neutral
6
Stoch RSI
50.00
ROC
-3.55
Ultimate
54.76
Williams
-64.18
CCI
-47.37
Stochastic
30.04
RSI
53.57
Trend Oscillators & Volatility
Bullish
1
Bearish
0
Neutral
0
Bullish
1
Bearish
0
Neutral
0
ATR
405.50
Low Volatility
MACD
551.07
Bullish
Nifty Stock List
Check all stocks
| Stock Name | CMP | Change (%) | Market Cap (Cr.) | Sector | Piotroski Score |
|---|---|---|---|---|---|
HDFCBANK | 709.6 | -0.3511 | 1123344.6 | Banks | 3 / 9 |
HDFCBANK | 604.5 | 1.0616 | 1123344.6 | Banks | 3 / 9 |
ICICIBANK | 1427.8 | 0.3232 | 1024775.9 | Banks | 8 / 9 |
SBIN | 1006 | -0.994 | 996906.7 | Banks | 5 / 9 |
KOTAKBANK | 422.55 | -0.4594 | 390185.62 | Banks | 6 / 9 |
Market Commentary
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Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.
Analyst Certification: I/We, Ayushi Jain Research Analyst, authors, and the name subscribed to this report, hereby certify that all the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. NISM Research Analyst registration number – NISM-201900015194.
Banknifty is an index comprising 12 public and private banks with the highest market cap and most liquid from the Banking sector.