Daily Morning Report – 24/04/2026

NIFTY OUTLOOK: 24173.05    FII -3254.71 cr    DII 941.35 crore

As discussed yesterday market behaviour remained on the expected lines during the day, as profit booking take down the nifty upto 24134.8

Further a small gravestones doji kind candlestick appeared on daily chart of nifty suggest selling pressure for nifty and it may slide upto 24000 to 23910 on decisively breakdown of 24085. If more supply will accentuate then it may have chances to test 23823.

However for upside 24261 to 24350 may act as immediate resistance for the nifty, if break through above these resistances and sustain may push the nifty upto 24436 to 24523.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  56305.00 Pcr: 0.89 Max Ce OI on 59000 & Max Pe OI on 54000

On April 23, 2026, a Bank Nifty index was closed at 56305.00 (-819.45) (-1.43%). The total movement in the index was 651.55 during the trading session.  The index made a high of 56868.70 and a low of 56217.15.

Technical view:

Important support and resistance level of Bank nifty are 56125 and 56484 respectively.

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

The Relative Strength Index (RSI) for the Nifty Bank index at 53.4. 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 (10, 20, 30 Day).

Bank nifty is trading below 5 out of 8 SMA’s (5, 50, 100, 150, 200 Day).

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

• Hikkake Uptrend

Macro:

1.Dollar index is @ 98.55.

2.Vix is @ 19.59 ( +3.54 %).

3.Brent oil is @ 105.20.

Note:  Wall Street slipped on Thursday, after a bout of seesawing, with sentiment mostly towards the negative side as investors remained on edge amid elevated tensions between the U.S. and Iran.

Despite President Donald Trump’s announcement of a ceasefire extension between the U.S. and Iran on Tuesday, tensions have risen due to naval activity in and around the critical Strait of Hormuz.

The U.S. military said it had taken into custody an oil tanker affiliated with Iran, with the Defense Department unveiling footage purportedly showing American troops on the deck of the vessel in the Indian Ocean. Meanwhile, Iran also revealed a video appearing to show its soldiers boarding a cargo ship near the strait.

Sources says Yemen & Somalia together may close Bab-Al-Mandeb any movement which will create havoc in Europe continental. European nations have declared they have left with 15-20 days aviation fuel left.

We need to be very cautious we may see some down side in equities.

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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