Daily Morning Report – 20/04/2026

NIFTY OUTLOOK: 24353.55    FII 683.20 cr    DII -4721.48 cr

(20th April  – 24th April 2026)

As we discussed in the previous report dated 13th April 26 market behaviour remained on the expected lines during the week passed by as sellers takes the benefit of buyer’s breather and take the nifty down upto 23555.60. Nifty reached to potential turning point, buyers take the advantage of this, failed the attempt made by sellers and advances the price of nifty upto weekly high of  24400.95.

Further a bullish candle appeared on weekly chart of nifty suggest aggression of buyers which may face resistance around 24580 to 24800. Strong aggression may push the nifty upto 25027 to 25247.

However for down side 24128 to 24906-23857 may act as immediate supports for the nifty, if failed to defend these supports then nifty may slide further upto 23681 to 23460.

Bank Nifty OUTLOOK:

SPOT:  56565.70 Pcr: 0.95 Max Ce OI on 60000 & Max Pe OI on 54000

On April 17, 2026, a Bank Nifty index was closed at 56565.70 (479.30) (0.85%). The total movement in the index was 787.05 during the trading session.  The index made a high of 56628.70 and a low of 55841.65.

Technical view:

Important support and resistance level of Bank nifty are 55900 and 57270 respectively.

Intraday Support and resistance of Bank nifty are 56349 and 56782 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 56.0. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 4 out of 8 SMA’s (5, 10, 20, 30 Day).

Bank nifty is trading below 4 out of 8 SMA’s (50, 100, 150 Day).

No active Candlestick Pattern was identified in bank nifty on daily chart.

Macro:

1.Dollar index is @ 97.90.

2.Vix is @ 17.48.

3.Crude is @ 82.59.

Note: Trump says US delegation to go to Pakistan for Iran talks, threatens new strikes. Iran rejects second round of talks, suspects possible U.S. attack.

Iran pulls out of talks in Pakistan, Tehran said its decision was driven by “unrealistic expectations,” “constant shifts in stance,” and “repeated contradictions” from the U.S., as well as the ongoing naval blockade, which it considers a violation of the ceasefire. Axios reporter Barak Ravid added that Iran suspects U.S. is preparing a surprise attack.

Again high probability is there that war may start nad US navy will try to capture Hurmuz . We will see huge profit booking in equity market. Oil & gas sector will again remain in focus.

Important Pivot Point Levels for Today:

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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