Daily Morning Report – 16/03/26

NIFTY OUTLOOK: 23151.10  FII  -10716.64 cr    DII  9977.42 cr

(16th  – 20th March 2026)

As we discussed in the previous report dated 9th March 26 market behavior remained on the expected lines during the week passed by as increased in selling pressure take the nifty to extreme down up to 23112

Further a long bearish candle with upper wick on daily chart suggest continuation of its bearish sentiments and on continuation of its southward journey may find support around 22961 to 22770. If failed to defend these supports then it may slip further up to 22580 to 22389.

Furthermore prevailed sentiments is bearish but daily and weekly RSI reached to oversold territory may attract bounce which may found resistance around 23341 to 23532. If break-through above these resistances and sustain may push the nifty up to 23723. If more demand will accentuate then it may have chances to test 23913.

Bank Nifty OUTLOOK:   

SPOT:   53757.85   Pcr: 0.75 Max Ce OI on 61000 & Max Pe OI on 59000

On March 13, 2026, a Bank Nifty index was closed at 53757.85 (-1343.10) (-2.44%). The total movement in the index was 1038.05 during the trading session.  The index made a high of 54713.75 and a low of 53675.70.

Technical view                                        

Important support and resistance level of Bank nifty are 52755.60 and 55790 respectively.  

Intraday Support and resistance of Bank nifty are 53472.39 and 54043.31 respectively.  

The Relative Strength Index (RSI) for the Nifty Bank index at 23.00. Below 30 is considered oversold and above 70 overbought.  

Bank nifty Day SMA Analysis

Bank nifty is trading above 0 out of 8 SMA’s .

Bank nifty is trading below 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150  Day).

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

Macros :

1.Dollar index is @ 100.01

2.Vix is @ 27.19 ( -0.37 % )

3.Cride is @ 96.33

Note:  U.S. officials ha been saying ” “This conflict will certainly ⁠come to the end in the next few weeks — could be sooner than that … and we’ll see a rebound in supplies and a pushing down of prices after that,” U.S. Energy Secretary Chris Wright told ABC’s “This Week” program.

Meanwhile, Araqchi sought to project an image of strength.

“It’s not a war of survival. We are stable and strong enough,” Araqchi told CBS. “We don’t see any reason why we should talk with Americans, because we were talking with them when they decided to attack us, and that was for the second time.”

With the war entering its third week, Trump said on Saturday that U.S. strikes had “totally demolished” much of Kharg Island and warned of more, telling NBC News on Saturday, “We may hit it a few more times just for fun.”

U.S. President Donald Trump has warned that NATO faces a “very bad” future if U.S. allies fail to assist ‌in opening up the Strait of Hormuz, in an interview with the Financial Times published on Sunday.

Trump told the FT he could also delay his summit with China’s President Xi Jinping later this month as he ⁠presses Beijing to help unblock the crucial waterway.

 Trump is repeatedly announcing war will end soon Iran is denying the same . This has happened 1st time in century that US wants to exit from a war & other part is not allowing US to exit .

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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