Daily Morning Report – 29/09/2026

Date 29.09.2026

Technical Summary Nifty

As discussed yesterday market behavior remained on the expected lines during the day, as buyers failed to get supportive buying and continuation of sellers southward journey take down the nifty extremely up to 22762.2

Further a bearish candle appeared on daily chart of nifty suggest continuation of selling pressure and this southward journey may find support around 22723 to 22667. If break below these resistances and sustain may drift down the nifty up to 22610 to 22555.

Furthermore behavior of nifty on daily chart suggest after a long dip small pause or bounce. If nifty continue with its behavior then yesterday’s correction attract the bounce for the day up to 22837 to 22893. If break through above these resistances and sustain may push the nifty rally up to 22950 to 23006.

Bank nifty:

• Close: 54,471.65 Support: 54,200–53,900 | Major: 54,000–53,800
• Resistance: 54750–55,000 | Major: 55,500–55,700
• Technical View: Bearish after a 1.99% fall. Sustained trade below 55,000 keeps the short-term structure weak; 54,000 is the next major support zone.

Open Interest Analysis:

NIFTY: For the 29 September expiry, total Call OI is about 29.10 crore versus Put OI of 18.03 crore, giving an OI PCR of approximately 0.62. The option structure is call-heavy, indicating significant overhead supply. With expiry today, the 23,000 area is the immediate psychological reference, while the broader OI structure remains skewed toward calls.

BANK NIFTY: For the 29 September expiry, the latest available option-chain snapshot shows PCR around 0.69, with total Call OI of about 7.21 lakh lots versus Put OI of 4.99 lakh lots. The 55,000 Call has substantial OI, while 54,000 Put OI is a major support reference. The call-heavy structure suggests continued pressure unless the index reclaims 55,000–55,150.

3.  Pivot Levels:

Classic pivot levels calculated from Friday, 28 September 2026 OHLC data.

4.  FII / DII Activity:

• FII: Net seller of ₹5,353.22 crore in the cash market on 28
• DII: Net buyer of ₹5,189.02
• FII index futures: net selling ₹1,169.82 crore; FII index options: net selling ₹2,660.21
• Institutional flow remains a major near-term risk factor, with strong DII buying partly offsetting heavy FII selling.

5.  International Cues:

• Brent crude rose about 3.7% to around $108/barrel as US–Iran talks remained deadlocked, raising concerns over Strait of Hormuz supply.
• The Indian rupee weakened to about 98 per dollar on Monday as higher oil prices increased pressure on the currency; RBI intervention helped limit the decline.
• US Treasury yields remained elevated, adding pressure to emerging-market assets and foreign
• Asian equities also weakened amid the oil-price and geopolitical shock, keeping the external setup
• Overall external cue: Cautious to negative, with crude, geopolitical risk, bond yields and currency pressure likely to keep volatility elevated.

Overall Market View:

NIFTY: 22,700 is the key near-term support; 22,950–23,000 is the immediate recovery zone. BANK NIFTY: 54,400–54,200 is the immediate support zone; 55,000–55,150 is the first major resistance. With September expiry today, intraday volatility and rapid OI adjustments may remain elevated.