Daily Morning Report – 23/04/2026

NIFTY OUTLOOK: 24378.10    FII -2078.36 cr    DII -1048.17 cr

As discussed yesterday market behavior remained on the expected lines during the day, as nifty opened near to our support of 24480 i.e. open at 24470.85 and slip to day low of 24352 but finally settled at 24378.1 I.e. near to our support of 24381.

Further a small bearish candle appeared on daily chart of nifty suggest small profit booking hence if further profit booking will persist may drift down the nifty upto 24195 to 24103 on decisively breakdown of 24287. If more supply will accentuate then it may have chances to test 24010.

Furthermore nifty looks tired but short term trend is remain positive, any up move from here may find resistance around 24470 to 24561. If breakthrough above these resistances and sustain may push the nifty upto 24653 to 24745.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  57124.45 Pcr: 0.99 Max Ce OI on 60000 & Max Pe OI on 55000

On April 22, 2026, a Bank Nifty index was closed at 57124.45 (-247.00) (-0.43%). The total movement in the index was 436.05 during the trading session.  The index made a high of 57438.20 and a low of 57002.15.

Technical view:

Important support and resistance level of Bank nifty are 55880 and 57920 respectively.

Intraday Support and resistance of Bank nifty are 57010 and 57255 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 57.8. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis

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

Bank nifty is trading below 2 out of 8 SMA’s (100, 150, 200 Day).

One Bullish active Candlestick Pattern was identified in bank nifty on daily chart.

• Long Legged Doji Uptrend

Macro:

1.Dollar index is @ 98.527.

2.Vix is @ 18.92.

3.Crude is @ 94.82.

Note: Asian stock markets fell on Thursday, reversing early gains in volatile trading as persistent U.S.-Iran tensions kept investors cautious despite strong technology earnings. Regional markets opened higher, tracking overnight gains on Wall Street, where the S&P 500 and Nasdaq closed at fresh record highs after President Donald Trump extended a ceasefire with Iran.

However, optimism faded amid risks to global oil supply following recent incidents in the Strait of Hormuz.

Iran seized two ships in the Strait of Hormuz on Wednesday, tightening its grip on the strategic waterway a day after U.S. President Donald Trump announced he was indefinitely calling off attacks, with no sign of peace talks restarting.

Conclusion: Global equities remain on edge as no talks have started yet & very tense position in houmuz by Iran and naval blockage by US .

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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