Daily Morning Report – 27/01/26

NIFTY OUTLOOK: 25048.65   FII -4113.38 cr    DII 4102.56 cr

27th – 30th January 2026

As we discussed in the previous report dated 12th January 26 market behaviour remained on the expected lines during the week passed by as persist bearish sentiments take the nifty extreme down upto 24919.

Further a bearish candle appeared on weekly chart of nifty suggest aggressive selling pressure and continuation of its bearish trend hence if nifty will continue with its southward journey may find support around 24920 to 24793. If break below these and sustain may drift down the nifty upto 24665 to 24537.

Furthermore nifty hovering near psychological mark and 50 week EMA 25000, daily RSI in oversold territory these also attract bounces for nifty which may encounter resistance around 25177 to 25310. If break-through above these resistances and sustain may push the nifty rally upto 25435 to 25560.

Bank Nifty OUTLOOK:   

SPOT:   58473.10  Pcr: 0.60 Max Ce OI on 60000 & Max Pe OI on 58000

On January 23, 2026, a Bank Nifty index was closed at 58473.10 (-727.00) (1.23%). The total movement in the index was 1053.9 during the trading session.  The index made a high of 59400.15 and a low of 58346.25.

Technical view                                        

 Important support and resistance level of Bank nifty are 58150 and 59200 respectively.  

Intraday Support and resistance of Bank nifty are 58183 and 58763 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 39.0. Below 30 is considered oversold and above 70 overbought.  

Bank nifty Day SMA Analysis

Bank nifty is trading above 3 out of 8 SMA’s (100, 150, 200 Day).

Bank nifty is trading below 5 out of 8 SMA’s (5, 10, 20, 30, 50 Day).

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

Macros .

1.Dollar index is @ 96.88

2.Vix is @ 16.15 ( +0.37 )

3.Brent crude is @ 64.36

4.10 years bond yield is @ 4.226

Note:  India and the European Union have concluded negotiations on a long-coveted trade deal that will be announced on Tuesday, the South Asian nation’s trade secretary said on Monday, an accord both sides hailed as historic as they contend with strained U.S. ties.

The deal paves the way for free trade of goods between the bloc of 27 European nations and India, which together make up a quarter of the world’s gross domestic product and a market of 2 billion consumers. Trade between the two sides stood at $136.5 billion in the fiscal year through March 2025.

The EU had sought sharp cuts by India in import duties on its cars that can exceed 100%, while India – a major steel producer – has been pushing the EU to reduce trade curbs to its steel exports.

Reuters reported on Sunday that India was planning to slash tariffs on cars imported from the EU to 40% from as high as 110% as part of the deal.

Negotiations excluded some sensitive farm and dairy items, as New Delhi maintains the need to protect millions of subsistence farmers.

As mentioned lower dollar index & geo political situation in pushed bullions higher, Dollar index (cmp 96.88) will again help Bullions & metals.

Note: A long awaited EU-India trade deal will be announced on Tuesday which will be big breakthrough for Indian companies after 50% tariffs on India from US . Deal will take 9-12 months to get implement as deal has to pass through 27 nations before it gets implement.

Both EU-India will get benefit from the deal.

Important Pivot Point Levels for Today           

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549