Daily Morning Report – 12/05/2026

Date 12.05.2026

NIFTY OUTLOOK: 23815.85    FII -8437.56 cr    DII 5939.65 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as continuation of selling pressure take the nifty down upto 23799.1

Further another bearish opening gap down candle appeared on daily chart of nifty suggest continuation of selling pressure and further selling from here in nifty may find support around 23740 to 23665. If break below these supports and sustain may drift down the nifty upto 23587 to 23513.

However for upside 23970 to 24043 may act as immediate resistance for the nifty, if more demand will accentuate then it may have chances to test 24118. An imminent resistance of 23891 may find between the big moves of 23815.85 – 23970.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  54439.90 Pcr: 0.78 Max Ce OI on 60000 & Max Pe OI on 60000

On May 11, 2026, a Bank Nifty index was closed at 54439.90 (-870.65) (-1.57%). The total movement in the index was 641.75 during the trading session.  The index made a high of 55002.45 and a low of 54360.70.

Technical view:

Important support and resistance level of Bank nifty are 54140 and 55890 respectively.

Intraday Support and resistance of Bank nifty are 54265 and 54620 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 43.7. 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, 200 Day).

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

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549