Daily Morning Report – 23/07/2026

Date 23.07.2026

NIFTY OUTLOOK: 23996.25   FII -819.20 cr    DII -418.26 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as bears take the advantage of favour and drift down the nifty to day low of 23961.4 i.e. near to our support of 23967.

Further a bearish candle appeared on daily chart of nifty suggest selling pressure for nifty hence if nifty continue with its selling pressure then on decisively breakdown of 23940 nifty may slide further upto 23885 to 23830. If more supply will accentuate then it may have chances to test 23773.

Furthermore nifty close near to its psychological mark of 24000 and from where many times nifty were recently get bounces, if nifty continue to its behaviour then it may bounce upto 24053 to 24110. If break-through above these resistances and sustain may push the nifty rally upto 24163 to 24218.

Bank Nifty OUTLOOK:                                                                                             

SPOT:  57126.80  Pcr: 0.76 Max Ce OI on 59000 & Max Pe OI on 59000

On July 22, 2026, a Bank Nifty index was closed at 57126.80 (-708.55) (-1.23%). The total movement in the index was 853.40 during the trading session.  The index made a high of 57824.00 and a low of 56970.60.

Technical view:

Important support and resistance level of Bank nifty are 55980 and 59113 respectively.

Intraday Support and resistance level of Bank nifty are 56890 and 57360 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 48.1. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 2 out of 8 SMA’s  (50, 100, Day).

Bank nifty is trading below 6out of 8 SMA’s. (5, 10, 20, 30, 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