Daily Morning Report – 12/10/2026

Date 12.10.2026

Technical Summary Nifty

As discussed yesterday market behavior remained on the expected lines during the day, as nifty break out its immediate resistances and rally up to 22580.75

Further a bullish candle following a long bearish candle formed bullish harami candlestick pattern, observed on daily chart of nifty after a prolonged decline and near the support area. Technically suggest diminishing of selling pressure, interruption to prevailing bearish trend and shift of sentiments from bearish to bullish as buyer’s starts to step in. Hence if buyers will succeed to get supportive buying then on decisively breakout of 22589 nifty may rally up to 22658 to 22727. If more demand will accentuate then it may have chances to test 22797.

Furthermore this formation suggest that sellers dominance is weakening and change of sentiments to bullish but it required confirmation too as underway trend is bearish. Hence if buyers will failed to get supportive buying and sellers will continue with its southward journey then on decisively breakdown of 22451 nifty may slide up to 22383 to 22314. If more supply will accentuate then it may have chances to test 22245.

Bank nifty

• Previous close: 55,256.65; up 60 points (+1.36%) on 9 October.
• Immediate support: 55,000–54,800;
• Major support: 54,600
• Immediate resistance: 55,400–55,600
• Major resistance: 55800–56,200.
• Short-term view: Positive rebound, with 55,000 as an important near-term A sustained move above 55,600 would improve momentum; failure to hold 55,000 may weaken the recovery

Open Interest Analysis

NIFTY 50: For the 13 October expiry, total put OI was reported at about 20.81 crore versus call OI of 16.29 crore, giving an OI PCR near 1.28. The largest call-OI concentration above spot was at 23,000 (about 1.42 crore), while the largest put-OI concentration below spot was at 22,500 (about 1.29 crore). The 22,500 area is therefore an important near-term support reference, while 23,000 is the key OI resistance. Put writing at 22,500 suggests support interest, but price confirmation remains important.

BANK NIFTY: For the 27 October expiry, the OI snapshot identifies 56,000 as the major call-OI resistance and 55,000 as the principal put-OI support reference. Around 55,000, put OI was approximately 12.4 lakh versus call OI of 9.3 lakh; call OI at 56,000 was about 11.5 lakh. With the index closing near 55,257, 55,000–54,800 is a key support zone and 55,500–56,000 a likely supply zone. These levels may shift as positions change during the session.

3.  Pivot Levels

Classic pivot levels calculated from 09 October 2026 OHLC data.

4.  FII / DII Activity

• FII: a net sale of ₹3569.90
• DII: a net purchase of ₹4743.30
• Despite the market rebound, foreign investors remained net sellers while domestic institutions were net buyers. Monitor daily flows for confirmation rather than treating one session as a trend reversal.

5.  International Cues

• Crude oil: Brent was around US$103.50/barrel on Monday morning; elevated energy prices remain a risk for India’s inflation and import bill.
• Asia: Regional markets opened mixed/cautious; South Korea was weaker, while broader Asia-Pacific trading was subdued.
• United States: S&P 500 and Nasdaq futures were modestly higher in early indications, but investors remained sensitive to earnings, inflation and borrowing costs.
• Bond yields and dollar: Elevated US Treasury yields and a firm dollar remain potential headwinds for emerging-market flows.
• Rupee/RBI: The rupee has been under RBI announced measures to curb excessive corporate hedging and ease dollar demand; effectiveness will need to be assessed over time.

Overall View

 Indian equities rebounded on Friday, 9 October, with Nifty rising 1.30% and Bank Nifty gaining 1.36%, helping the market recover part of the previous session’s decline. However, elevated crude, rupee weakness, persistent FII selling and uncertainty around rates/inflation argue for a cautious approach. The near-term bias is recovery-oriented but not decisively bullish: watch Nifty 22,600–22,650 and Bank Nifty 55,500–55,600 for confirmation. Avoid chasing opening moves; use predefined stop-losses and position sizing.

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