Daily Morning Report – 18/05/26

NIFTY OUTLOOK: 23643.50    FII 1329.17 cr    DII -1958.82 cr

(18th May – 22nd May 2026)

As we discussed in the previous report dated 11th May 26 market behaviour remained on the expected lines during the week passed by as selling pressure take it down the nifty upto 23265.

Further a bearish candle with lower wick appeared on weekly chart of nifty  suggest buyers has put an efforts to stop further down side, hence if buyers will get supportive buying then nifty may rally upto 23847 to 24053. If break through above these levels and sustain may push the nifty upto 24257 to 24461.

Furthermore this candle represents selling pressure and any re strike of sellers may find support around 23440 to 23233. If breakdown these supports and sustain may drift down the nifty upto 23030 to 22825.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  53710.35  Pcr: 0.77 Max Ce OI on 60000 & Max Pe OI on 60000

On May 14, 2026, a Bank Nifty index was closed at 53710.35 (-418.60) (0.77%). The total movement in the index was 697.15 during the trading session.  The index made a high of 54325.45 and a low of 53628.30.

Technical view:

Important support and resistance level of Bank nifty are 53200 and 54300 respectively.

Intraday Support and resistance of Bank nifty are 53518 and 54080 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 41.60. 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.

Macros .

1.Dollar index is @ 99.21 ( +0.49 %)

2.Vix is @ 18.43 ( +6.78 %)

3.Crude is @ 109.26.

Note: Israel and the United States are actively advancing military preparations to potentially resume coordinated attacks against Iran as early as next week, according to a report first published by The Times of Israel, citing Middle Eastern and U.S. officials.

If war start crude oil this time will breach 130-135 $ and if it streached for another 3-4 weeks world will see huge economic pain .European nations is left with 3-4 weeks avaitaion fuel . Infation across the world will hit roof top .

Economic indicator such as Crude is up by 3.35 % cmp 109.30 , Dollar index is @ 99.21 (+0.50 %). 10 years bond yield is @ 4.595 (+3.05% ) all indicators are indicating equitie will take a beating .

Higher dollar index will keep base metals & Bullions on lower side . Higher crude  & dollar index will keep Equities on boil .

Stock such as . Hindzinc, Hindalco, nalco , hindcopper will take a beating, higher crude oil prices will give benifit to oilIndia , Ongc & stocks such as hindustan oil & Bpcl will take a beating .

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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