Daily Morning Report – 16/07/2026

Date 16.07.2026

NIFTY OUTLOOK: 24078.50   FII -735.83 cr    DII 704.93 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as nifty were face resistance near 24243 i.e. made day High of 24220.35, reversed from there and gave closing near to its previous closing i.e. closed at 24078.5

Further a doji kind candle appeared on daily chart of nifty suggest selling pressure at high hence if nifty continue with its selling pressure then on decisively breakdown of 24016 it may slide upto 23955 to 23893. If more supply will accentuate then it may have chances to test 23830.

However in past three trading session nifty has move in range bound direction and has made a low same to near by. Hence if nifty succeed to defend this low then it may rally upto 24205 to 24263 on decisively breakout of 24141. If more demand will accentuate then it may have chances to test 24327.

Bank Nifty OUTLOOK:

SPOT:  57757.85  Pcr: 0.85 Max Ce OI on 59000 & Max Pe OI on 59000

On July 15, 2026, a Bank Nifty index was closed at 57757.85 (295.55) (0.51%). The total movement in the index was 603.6 during the trading session.  The index made a high of 58148.80 and a low of 57545.20.

Technical view:

Important support and resistance level of Bank nifty are 56925 and 58605 respectively.

Intraday Support and resistance level of Bank nifty are 57590 and 57920 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 55.0. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 6 out of 8 SMA’s  (5, 30, 50, 100,150, 200 Day).

Bank nifty is trading below 2 out of 8 SMA’s. (10, 20 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