Daily Morning Report – 19/01/26

NIFTY OUTLOOK: 25,694.35
FII: -Rs. 4,346.13 cr  DII: Rs. 3,935.31 cr
(19th–23rd January 2026)

As discussed in the previous report dated 12th January 2026, market behaviour remained on expected lines during the week. Nifty witnessed a sharp downside move towards 25,445, making a weekly low of 25,473.40, and then bounced back to 25,899.80, close to the weekly resistance of 25,923. After respecting both sides, the index closed near its previous level at 25,694.35.

A doji candle on the weekly chart indicates volatility and indecision regarding Nifty’s near-term direction. Bearish sentiment persists, with selling pressure visible at higher levels, indicating resistance on rallies. If weakness continues, Nifty may find support in the range of 25,460–25,341. If selling pressure intensifies, the index may test 25,225. An intermediate support is placed at 25,577 within the broader move from 25,694.35 to 25,460.

Nifty has also tested its 25-week EMA near 25,525, a level from which it has bounced multiple times in the past. If bulls regain control, a decisive breakout above 25,813 could trigger an upside move towards 25,930–26,047. Stronger buying momentum may further push the index towards 26,165.

BANK NIFTY OUTLOOK:
Spot: 60,095.15  PCR: 1.05
Max CE OI: 59,500  Max PE OI: 59,500

On 16th January 2026, Bank Nifty closed at 60,095.15, up 515 points or 0.86 percent. The index witnessed an intraday movement of 724.65 points, with a high of 60,235.15 and a low of 59,510.50.

Technical View:
Key support and resistance levels for Bank Nifty are placed at 58,890 and 60,540, respectively.
Intraday support and resistance levels are seen at 59,896 and 60,294.
The RSI for Bank Nifty stands at 61.4. A reading below 30 indicates oversold conditions, while above 70 suggests overbought levels.

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).

No Candlestick Pattern was identified in bank nifty on daily chart.

Macro :

1. Dollar index is @ 99.20

2.Vix is @ 15.86

3.Brent crude is @ 64.13

4.US 10 years bond yield is @ 4.84 .

Note: Most watched news across the globe is US-IRAN tension . We might be witnessing the war between US-IRAN. This time we may see bigger conflict in Middle East.

Next few days will be very crucial for whole world because war will effect entire globe. As far as markets are concerned, Commodities viz Crude oil, bullions & metals prices will move up again.

Arms race will again begun in world if war will begun & intensify. Defence related stocks will be in focus again.

Next week we may see focus will be on crude, bullions, metals & Defence related stocks will be in focus.

Important Pivot Point Levels for Today           

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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