Daily Morning Report – 13/03/26

NIFTY OUTLOOK: 23639.15  FII  -7049.87 cr    DII  7449.77 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as continues selling pressure take down the nifty upto our level of 23566 i.e. made a day low of 23556.

Further a bearish doji candle appeared on daily chart of nifty suggest indecision about nifty direction. Bearish sentiments favor the bears hence if bears will take a lead then on decisively breakdown 23541 nifty may slip further upto 23443 to 23347. If more supply will accentuate then it may have chances to test 23250.

Furthermore if bulls will take the lead then on decisively breakout of 23737 we may see upmove upto 23833 to 23931. If more demand will accentuate then it may have chances to test 24030.

Bank Nifty OUTLOOK:   

SPOT:   55100.95   Pcr: 0.78  Max Ce OI on 61000 & Max Pe OI on 59000

On March 12, 2026, a Bank Nifty index was closed at 55100.95 (-634.80) (-1.14%). The total movement in the index was 876.40 during the trading session.  The index made a high of 55636.95 and a low of 54760.55.

Technical view                                        

Important support and resistance level of Bank nifty are 54200 and 56400 respectively.  

Intraday Support and resistance of Bank nifty are 54860 and 55341 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 28.70. Below 30 is considered oversold and above 70 overbought.  

Bank nifty Day SMA Analysis

Bank nifty is trading above 0 out of 8 SMA’s .

Bank nifty is trading below 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150  Day).

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

Macros

1.Dollar index is @ 99.614

2.Vix is @ 27.29 ( +12.63 )

3.Crude is @ 95.25

Note: New Supreme Leader Mojtaba Khamenei said on Thursday  Iran will fight on and keep the Strait of Hormuz shut as leverage against the United States and Israel, new Supreme Leader Mojtaba Khamenei said on Thursday in defiant first comments attributed to him since he ​succeeded his slain father.

Crude prices boiled and briefly crossed 100$ , tankers are struck in Irani waters. US and allies clash with Russia & China over Iran nuclear program.

Scenario remains very tricky till now in Middle East & Persian Gulf. But as I am analysing we may see some talks beginning in next week (4-5 days) as many countries are requesting Iran to sit on negotiating table which has been rejected by Iran so far.

Important Pivot Point Levels for Today

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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