Daily Morning Report – 08/10/2026

Date 08.10.2026

Technical Summary Nifty

As discussed yesterday market behavior remained on the expected lines during the day, as nifty breakdown its immediate supports, slide up to 22546.3 i.e. near to our support of 22535 and end of day give closing of 22603.05

Further a bearish opening gap down candle appeared on daily chart of nifty suggest profit booking at high hence if further profit booking will persist then nifty may slide up to 22483 to 22423 on decisively breakdown of 22543. If more supply will accentuate then it may have chances to test 22363.

However for upside 22663 to 22723 may act as immediate resistance for nifty, if break through above these resistances and sustain may push the nifty up to 22783 to 22843.

Bank nifty

• Closed at 55,055.55, down 85 points (-0.13%). The index outperformed Nifty and remained relatively stable after the RBI announcement.
• Immediate Support: 54,850–54,650.
• Major Support: 54,300–54,000.
• Immediate Resistance: 55,300–55,450.
• Major Resistance: 55,500–56,000. A decisive move above 55,500 can improve the short-term
• Bias: Neutral-to-positive above 54,600; sustained trade below 54,600 would weaken the

Open Interest Analysis:

NIFTY: For the 13 October expiry, end-of-day option data showed total Call OI of about 13.72 crore versus Put OI of 11.16 crore, giving a PCR of 0.81, with max pain near 22,650. The largest Call OI above spot was at 23,000, while the largest Put OI below spot was at 21,500. The biggest Call-OI addition was at 22,800, followed by 22,600, 22,700 and 23,000, indicating overhead supply in the 22,700–23,000 band. Put writers added most at 22,200, making that level an important downside reference. Overall positioning remains cautious, with 22,600–22,800 as the immediate decision zone.

BANK NIFTY: For the 27 October expiry, the latest chain showed PCR around 0.92, with total Call OI of about 4.90 lakh lots and Put OI of about 4.52 lakh lots. The put wall is at 55,000, while the larger Call wall is at 58,000; max pain is around 55,800. The positioning is relatively balanced, but 55,000 remains an important near-term support/reference level and 55,500–56,000 is the key resistance area.

3.  Pivot Levels

Classic pivot levels calculated from 07 October 2026 OHLC data.

4.  FII / DII Activity

• FII: a net sale of ₹6121.37
• DII: a net purchase of ₹4596.57
• FII selling intensified on 07 October, while DII buying provided partial October month-to-date cash-market flows stood at approximately ₹23,266 crore of FII net selling versus ₹24,909 crore of DII net buying. Persistent FII outflows remain a major risk to a sustained market recovery.

5.  International Cues

• Asian equities remained subdued as investors assessed elevated global bond yields and geopolitical
• S. stocks closed lower on 07 October; global risk sentiment remains cautious.
• S. 10-year Treasury yield remained elevated near 5.28%, keeping valuation pressure high for emerging markets.
• Brent crude was around $102/bbl after rising on geopolitical supply concerns; higher oil remains negative for India’s inflation and trade balance.
• The rupee closed around ₹96.42/USD and remains under pressure near record-low
• The S. dollar remained strong, adding pressure to emerging-market currencies and foreign flows.
• Gold edged lower as high yields and dollar strength weighed on precious
• Overall global setup: cautious-to-negative, with crude, yields, dollar strength and geopolitical risks remaining key headwinds.

Overall View:

Indian equities snapped a two-session recovery on 07 October after the RBI raised the repo rate by 25 bps to 5.50% and shifted its stance from neutral to calibrated tightening. Nifty declined 0.76% to 22,603.05, while Bank Nifty was comparatively resilient at 55,055.55. The RBI also raised its FY27 GDP-growth forecast to 7.1%. For 08 October, the setup remains cautious, with global yields, crude oil, the rupee and continued FII selling likely to keep volatility elevated.

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