Daily Morning Report – 16/06/2026

Date 16.06.2026

NIFTY OUTLOOK: 23853.90   FII 200.05 cr    DII 3189.26 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as buying strength takes the nifty rally extreme upto  24011.4

Further a bearish candle appeared on daily chart of nifty suggest profit booking after a rally hence if more profit booking will persist then nifty may slide upto 23700 to 23621 on decisively breakdown of 23777. If more supply will accentuate then it may have chances to test 23545.

Furthermore opening bullish gap of 15th JUN 26 has keep alive the bullish sentiments hence if nifty decisively breakout 23931 then it may rally upto  24010  to 24081. If more demand will accentuate then it may have chances to test 24163.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  57198.80  Pcr: 1.03 Max Ce OI on 60000 & Max Pe OI on 54000

On June 15, 2026, a Bank Nifty index was closed at 57198.80 (384.00) (0.68%). The total movement in the index was 685.30 during the trading session.  The index made a high of 57804.50 and a low of 57119.20.

Technical view:

Important support and resistance level of Bank nifty are 55980 and 58480 respectively.

Intraday Support and resistance of Bank nifty are 57000 and 57390 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 67.2. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis

Bank nifty is trading above 7 out of 8 SMA’s  (5, 10, 20, 30, 50, 100,200 Day).

Bank nifty is trading below 1 out of 8 SMA’s (150 Day).

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

Macros .

1.Dollar index is @ 99.405.

2.Vix is @ 16.13 (-8.77 5).

3.Crude is @ 81.01.

Note : The US and Iran say they have reached an agreement to end their war, A US official says the memorandum of understanding was signed by US President Donald Trump, Vice resident JD Vance and Iranian parliament speaker Mohammad ​Bagher Qalibaf .Trump says the text of the deal will be released after a formal signing on Friday.

The US says the deal provides for an immediate opening of the Strait of Hormuz and lifting of the US blockade on Iran .The agreement would extend a ceasefire for a 60-day negotiation period, when contentious issues such as the future of Iran’s nuclear program are due to be decided

The pact may hinge on events in Lebanon, which has been a sticking point in negotiations. Israel says it will not withdraw from Lebanese territory it has seized and will retaliate if Iran attacks it due to events in Lebanon.

Hezbollah welcomes the US-Iran deal, while Iran’s Foreign Minister Abbas Araqchi says there must be a complete halt to Israeli attacks against Lebanon.

Conclusion : Israel will be the sticking point if they don’t with ward from Lebanon deal may be in trouble .

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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