Daily Morning Report – 16/09/2026

Date 16.09.2026

NIFTY OUTLOOK: 23118.60   FII -2977.86 cr    DII 2686.05 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as buyers have taken control and opened the nifty at 23576.15 i.e. near to our target of 23574, spontaneous selling there turn nifty to negative and slide the nifty extreme down to 23118.6

Further a long bearish candle appeared on the daily chart of nifty near support implies strong selling pressure and attempt to breakdown the support. Hence if nifty continues with south ward journey then on decisively breakdown of 23065 then it may slide further upto 23013 to 22960. If more supply will accentuate then it may have chances to test 22907.

Furthermore this candle after a long decline near a support also suggest it may final sale-off attempt before bulls regain control, daily RSI reached to deep oversold zone, these all suggest pullback for nifty and it may rally upto 23171 to 23224. If break through above these resistances and sustain may push the nifty upto 23277 to 23330.

Bank Nifty OUTLOOK:                                                                                             

SPOT:  55794.75  Pcr: 0.78 Max Ce OI on 57500 & Max Pe OI on 57500

On September 15, 2026, a Bank Nifty index was closed at 55794.75 (-811.80) (-1.43%). The total movement in the index was 1201.60 during the trading session.  The index made a high of 56996.35 and a low of 55794.75.

Technical view

Important support and resistance level of Bank Nifty Future are 55906 and 57350 respectively.

Intra Day support and resistance level of Bank Nifty Future are 55780 and 56383 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 33.2. 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, 200 Day).

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

Important Pivot Point Levels for Today                    

Nifty (Spot)

Bank Nifty (Spot)

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549