Daily Morning Report – 30/04/2026

NIFTY OUTLOOK: 24177.65    FII -2468.42 cr    DII 2262.17 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as nifty rally upto our resistance of 24320 i.e. made a day high of 24334.7

Further on subsequent day a candle with upper which  appeared on daily chart of nifty, though it is bullish is  suggest that nifty facing resistance on upside. Hence next resistance will shift to 24260 to 24340. If breakthrough above these resistances and sustain may push the nifty upto 24423 to 24507.

Furthermore past two subsequent candles suggest selling at upper end hence any selling will persist then nifty may slide upto 24015 to 23933 on decisively breakdown of 24096. If more supply will accentuate then it may have chances to test 23851.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  55403.60 Pcr: 0.91 Max Ce OI on 60000 & Max Pe OI on 60000

On April 29, 2026, a Bank Nifty index was closed at 55403.60 (3.25) (0.01%). The total movement in the index was 888.25 during the trading session.  The index made a high of 56178.75 and a low of 55290.50.

Technical view:

Important support and resistance level of Bank nifty are 55155 and 56200 respectively.

Intraday Support and resistance of Bank nifty are 55160 and 55650 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 48.5. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis

Bank nifty is trading above 2 out of 8 SMA’s (20, 30 Day).

Bank nifty is trading below 6 out of 8 SMA’s (5, 10, 50, 100, 150, 200 Day).

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

• Harami Uptrend

Macros

1.Dollar index is @ 98.85 (+0.38%)

2.Vix is @ 18.27 ( +0.44 )

3.Brent crude is @ 110.60 (+5.94%)

Note:  The Federal Reserve held interest rates steady on Wednesday, but in its most divided decision since 1992 noted rising concerns about inflation in a policy statement that drew three dissents from officials ‌who no longer feel the U.S. central bank should communicate a bias towards lowering borrowing costs.

“Inflation is elevated, in part reflecting the recent increase in global energy prices,” the Fed said in its policy statement, a shift from previous language saying that inflation was just “somewhat” elevated.” Developments in the Middle East are contributing to a high level of uncertainty about the economic outlook.”

Alongside elevated inflation, “the unemployment ‌rate has ⁠been little changed in recent months” while the economy continues to expand “at a solid pace,” the Fed said.

Donald Trump discussed how to mitigate the impact of a possible months-long U.S. blockade of Iran’s ports with U.S. oil companies, a White House official said on Wednesday, as the U.S. president urged Tehran to “get smart soon” and sign ‌a deal.

Tuesday’s talks with oil executives followed deadlock in efforts to resolve the conflict, which has led the United States to try to squeeze Iran’s oil exports with a naval blockade to try to force it to reopen the Strait of Hormuz to shipping.

Conclusion : Fed signaled inflation is getting higher due to higher gasoline price . On 1 may Trump has to go to parliament to take permission to continue war in Iran (which may get passed, parliament has blocked war on Cuba). Geo political situation is very uncertain we need to be very cautious.

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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