Daily Morning Report – 01/10/2026

Date 01.10.2026

Technical Summary Nifty

As discussed yesterday market behavior remained on the expected lines during the day, as supportive buying takes the nifty rally up to 22809.35 but failed to sustain as underway trend is bearish and slide from there to near our support of 22603 i.e. made a day low of 22595.20

Further a inverse hammer 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 22565 it may slide further up to 22509 to 22453. If more supply will accentuate then it may have chances to test 22397.

Furthermore an inverse hammer kind candle pattern after hammer candle appeared on daily chart after a long decline suggest buyers continues efforts to take the control of nifty. Hence If buyers re strike then nifty may rally upto 22733 to 22787 on decisively breakout of 22677. If more demand will accentuate then it may have chances to test 22843.

Bank nifty

• Bank Nifty opened at 54,175.90, hit a high of 55,135.50 and closed at 54,633.05, up 373.10 points (+0.69%)
• Bank Nifty is relatively It rose to 54,633 while the Nifty fell for a third straight session, with ICICI Bank up 3% and HDFC Bank under selling pressure.
• It recovered from a low of 54,174 and gave up much of its early high near 55,135, so the day-high is a rejection zone.
• Immediate support is 54,350–54,100,
• The deeper support is 53,550–53,400.
• Immediate resistance is 54,900–55,100.
• Strong resistance is 55,700

Open Interest Analysis:

NIFTY: Nifty option positioning remains bearish to cautious. Total call OI is clearly heavier than put OI, with PCR at about 0.65 and max pain at 22,700. On Wednesday, the 23,000 call strike held the highest open interest at 123.44 lakh contracts, while the 22,700 put strike held 96.81 lakh. This makes 23,000 the strong overhead resistance wall and 22,700 the working support.

BANK NIFTY:

Bank Nifty PCR is higher at about 0.87, so put-side positioning is better than in Nifty, which matches its relative strength. Bank Nifty’s reported max pain of 56,000 is far above spot.

3.  Pivot Levels

Classic pivot levels calculated from Friday, 30 September 2026 OHLC data.

4.  FII / DII Activity

 FII: gross purchases of ₹14,967.82 cr against sales of ₹25,116.23 cr, a net sale of ₹10,148.41

• DII: gross purchases of ₹24,413.76 cr against sales of ₹13,142.03 cr, a net purchase of ₹11,271.73
• FII selling is the main pressure on the DII buying is cushioning the fall but has not reversed the trend.

5.  International Cues:

 US inflation: August PCE came in at 3.4% against the 3.7% expected. The relief faded as bond yields stayed high.

• US bond yields: The 10-year yield is around 5.29%, near multi-year highs. This is a key worry for emerging markets such as India.
• US futures: Slightly positive. Dow futures were up about 0.2% and S&P 500 futures about 0.3%. Micron also beat earnings.
• Crude oil: Brent has been swinging between about $98 and $103 a barrel on US–Iran tension, and is well above pre-conflict levels. India imports most of its oil, so high crude is negative for the rupee and for inflation.

Overall Market View

The bias is cautious and range-bound. The likely range is 22,460–22,810 for Nifty and 54,160–55,135 for Bank Nifty. Banks are the stronger segment, while Nifty stays weak below 22,700 and 23,000. Because of tomorrow’s holiday, avoid carrying heavy overnight positions. Keep strict stop-losses, as global yields, crude and FII flows can change direction quickly.

By ASHOK BHANARI | SEBI REGISTERED REASERCH ANALYST | REG. INH000019594