Date 22.05.2026
NIFTY OUTLOOK: 23654.70 FII -1891.21 cr DII 2492.42 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as volatile session take the nifty rally upto 23859.9 but failed to sustained, slip near to our support 23583 i.e. made a day low of 23596.6 and finally settled near to its previous closing.
Further nifty move directionless from past eight trading session, bearish candle appeared on daily chart of nifty indicts small profit booking and which may find support around 23580 to 23505. If break below these supports and sustain may drift down the nifty upto 23430 to 23355.
However for upside 23730 to 23805 may act as immediate resistance for nifty, if break through above these resistances and sustain may push the nifty upto 23880 to 23955.
Bank Nifty OUTLOOK:
SPOT: 53439.40 Pcr: 0.79 Max Ce OI on 60000 & Max Pe OI on 50000
On May 21, 2026, a Bank Nifty index was closed at 53439.40 (122.80) (-0.23%). The total movement in the index was 953 during the trading session. The index made a high of 54109.15 and a low of 53156.15.
Technical view
Important support and resistance level of Bank nifty are 53200 and 54200 respectively.
Intraday Support and resistance of Bank nifty are 53180 and 53700 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 40.50. 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
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 23284.27 | 23440.43 | 23547.57 | 23703.73 | 23810.87 | 23967.03 | 24074.17 |
Bank Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 52074.32 | 52615.23 | 53027.32 | 53568.23 | 53980.32 | 54521.23 | 54933.32 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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