Nifty ended on a positive note on 02nd June 2026, closing at 23,483.55, up 100.95 points or 0.43%, supported by strong buying interest from lower levels. After opening with a sharp gap-down at 23,229.15, the index recovered steadily throughout the session and touched an intraday high of 23,556.95. Technically, the formation of a strong bullish candlestick pattern indicates renewed buying momentum and improved sentiment. The RSI improved to 42.95, while India VIX declined to 15.35, reflecting easing volatility. Immediate support is placed around the 23,250–23,300 zone, while resistance is seen near the 23,700–23,750 range.
Bank Nifty ended on a marginally positive note on 02nd June 2026, closing at 53,714.65, up 71.55 points or 0.13%, supported by strong recovery from lower levels. The index opened with a sharp gap-down at 53,265.10 and slipped to an intraday low of 53,121.85 before witnessing sustained buying interest, which pushed it to an intraday high of 53,933.55. Technically, the formation of a bullish candlestick pattern reflects improving short-term sentiment and buying support at lower levels. The RSI improved to 43.62, indicating gradual strengthening in momentum. Immediate support is placed around the 53,000–53,200 zone, while resistance is seen near the 54,300–54,500 range.
Foreign Institutional Investors (FIIs) remained net sellers for the fifth consecutive trading session on 02nd June 2026, offloading equities worth ₹8,362 crore, reflecting continued caution among overseas investors. However, Domestic Institutional Investors (DIIs) extended their buying streak and remained strong net buyers, purchasing equities worth ₹9,589 crore, which helped absorb foreign selling pressure and provided support to the broader market.
The market has shown resilience by absorbing early weakness and attracting buyers at lower levels, indicating that downside pressure is currently being met with demand. Improving participation across sectors and easing volatility have helped stabilize sentiment. While the recovery is encouraging, the sustainability of the upmove will depend on the indices’ ability to overcome nearby resistance levels and maintain strength above key support zones in the coming sessions,” says Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.
