Daily Morning Report – 17/04/26

NIFTY OUTLOOK: 24196.75    FII 382.36 cr    DII -3427.75 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as positive trend take the nifty rally upto 24400 but failed to sustain and slip near to our support of 24110 i.e. made a day low of 24102.8

Further a bearish candle appeared on daily chart of nifty suggest some profit booking after a smart rally hence if more profit booking will persist then nifty may slide upto 23967 to 23850 on decisively breakdown of 24081. If more supply will accentuate then it may have chances to test 23735.

Furthermore short term trend remain positive and may face resistance around 24312 to 24427. If breakthrough above these resistances and sustain may push the nifty upto 24543 to 24658.

Bank Nifty OUTLOOK:   

SPOT:  56086.40 Pcr: 0.87 Max Ce OI on 60000 & Max Pe OI on 55000

On April 16, 2026, a Bank Nifty index was closed at 56086.40 (-215.55) (-0.38%). The total movement in the index was 936 during the trading session.  The index made a high of 56834.25 and a low of 55898.25.

Technical view                                        

Important support and resistance level of Bank nifty are 54570 and 57260 respectively.

Intraday Support and resistance of Bank nifty are 55829 and 56344 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 54.2. 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 @ 98.06.

2.Vix is @ 17.94.

3.Crude is @ 93.32.

Note: U.S. stock index futures were little changed on Thursday evening after benchmark indexes notched fresh record highs for a second straight session, as improving geopolitical sentiment supported risk appetite.

nvestor sentiment was lifted after Israel agreed to a temporary ceasefire with Lebanon, while U.S. President Donald Trump signaled that Washington and Tehran could resume talks over the weekend, raising hopes for a broader de-escalation in the region.

The Lebanon ceasefire, expected to last around 10 days, is seen as a potential stepping stone toward wider peace negotiations.

Economic data released earlier in the day showed U.S. jobless claims falling more than expected, pointing to continued resilience in the labor market and offering further support to equities.

Hopefully this time it looks demands from all the realated parties will be reasonable and negotiations will progress .

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549