Daily Morning Report – 21/01/26

NIFTY OUTLOOK: 25232.50   FII -2938.33 cr    DII 3665.69 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as continuation of bearish sentiments were take the nifty down upto 25171.35

Further after the long decline a long bearish candle appeared on daily chart of nifty suggest more panic or last sell off attempt before bull regain control, nifty respected 200 EMA on daily chart and RSI on daily chart reached near to oversold zone these all suggest bounce for nifty which may encounter resistance around 25293 to 25355. If break-through and sustain above these resistances may push the nifty further upto 25415 to 25477.

This long bearish candle also indicates continuation of bearish trend hence if decisively breakdown 25171 then it may slip further upto 25111 to 25067-51. If more supply will accentuate then it may have chances to test 25490.

Bank Nifty OUTLOOK:   

SPOT: 59404.20   Pcr: 0.76 Max Ce OI on 60000 & Max Pe OI on 59500

On January 20, 2026, a Bank Nifty index was closed at 59404.20 (-487.15) (-0.81%). The total movement in the index was 709.55 during the trading session.  The index made a high of 59993.50 and a low of 59283.95.

Technical view                                        

Important support and resistance level of Bank nifty are 59200 and 59900 respectively.  

Intraday Support and resistance of Bank nifty are 59200 and 59600 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 48.80. 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 (50, 100, 150, 200 Day).

Bank nifty is trading below 4 out of 8 SMA’s (5, 10, 20, 30 Day).

No 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