Daily Morning Report – 21/04/2026

NIFTY OUTLOOK: 24364.85    FII 683.20 cr    DII -4721.48 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as nifty respected our support of 24243 for the day i.e. made a day low of 24241.25

Further a doji candle appeared on daily chart of nifty suggest indecision about nifty direction but short term trend is remain positive hence if bulls will take lead then nifty may rally upto 24467 to 24570. If break through above these resistances and sustain may push the nifty upto 24673 to 24777.

Furthermore if bear will take a charge of nifty then it may slide upto 24160 to 24057 on decisively breakdown of 24261. If more supply will accentuate then it may have chances to test 23955.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  56582.35 Pcr: 1.01 Max Ce OI on 60000 & Max Pe OI on 55000

On April 20, 2026, a Bank Nifty index was closed at 56582.35 (16.65) (0.03%). The total movement in the index was 728.55 during the trading session.  The index made a high of 57085.10 and a low of 56356.55.

Technical view:

Important support and resistance level of Bank nifty are 55880 and 57250 respectively.

Intraday Support and resistance of Bank nifty are 56382 and 56783 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 56.1. 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, 30 Day).

Bank nifty is trading below 4 out of 8 SMA’s (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