Daily Morning Report – 14/10/2026

Date 14.10.2026

Technical Summary Nifty CMP 22721.95

As discussed yesterday market behavior remained on the expected lines during the day, as nifty get u turn from our breakdown level of 22292 (day low of 22288.45) and higher low formation favour the buyers to get supportive buying which resultant into extreme rally up to 22721.95

Further a bullish candle appeared on daily chart of nifty suggest continuation of positive momentum hence if nifty successfully taken out 22798 it may rally further up to 22873 to 22950. If more demand will accentuate then it may have chances to test 23026.

However for down side 22645 to 22570 may act as immediate supports for the nifty, if break through below these supports and sustain may drift down the nifty up to 22493 to 22418.

Bank nifty

• Closed at 55,481.05, up 05 points (1.03%).
• Immediate Support: 55250-55120.
• Major Support: 54,900–54,700.
• Immediate Resistance: 55,700–55,900.
• Major Resistance:
• A sustained move above 55,550 can open the way to 55,800–56,000. A break below 55,250 would turn short-term momentum weak.

Open Interest Analysis:

Nifty 50: Following Tuesday’s strong recovery, the 22,700–22,800 strikes are important to monitor for fresh call writing or call unwinding. The 22,500–22,600 zone is a key area to watch for put writing and support formation. A sustained move above 22,800 accompanied by call unwinding could strengthen bullish momentum. Conversely, renewed call writing and a break below 22,550 could weaken the recovery.

Bank Nifty: With the index closing at 55,481.05, the 55,000–55,200 zone is the key support area to monitor, while 55,500–56,000 represents the near-term resistance band. Call unwinding above 55,600 could support further upside, whereas fresh call writing near 56,000 may restrict gains.

3.  Pivot Levels:

Classic pivot levels calculated from 13 October 2026 OHLC data.

4.  FII / DII Activity:

• FII: a net sale of ₹1305.13
• DII: a net purchase of ₹2439.24
• Interpretation: Domestic institutional buying exceeded foreign institutional cash selling, providing support to the market. FIIs were also net buyers in index futures, indicating that their derivatives positioning was more constructive than their cash-market flows.

5.  International Cues:

• Crude oil: Brent was around US$106.60 per barrel amid geopolitical supply concerns, creating a potential headwind for India
• Asian markets: Regional equities were modestly higher on Wednesday, supported by a recovery in some technology and semiconductor stocks.
• US markets and inflation: Investors remained cautious ahead of US inflation data, with interest-rate expectations and Treasury yields influencing sentiment.
• Rupee: The rupee strengthened to around ₹95.28 per US dollar on Tuesday following RBI measures aimed at easing currency pressure.
• Domestic earnings: Monitor Tech Mahindra’s quarterly results and broader IT-sector earnings for their potential influence on Nifty.
• Key risks: Elevated crude prices, geopolitical developments, foreign investor flows and changing interest-rate expectations could increase volatility.

Overall View:

 The bias is positive but needs confirmation. The likely range is 22,500–22,900 for Nifty and 55,000–55,800 for Bank Nifty. A gap-up is possible. Nifty needs to hold 22,600–22,700 and then clear 22,776 to confirm a trend change. If the opening gain fades quickly, as it did on Monday, expect a pullback to 22,600 or 22,570. Avoid chasing a gap-up, keep strict stop-losses, and watch crude oil and FII flows closely.

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