Daily Morning Report – 17/08/2026

Date 17.08.2026

NIFTY OUTLOOK: 24366.00   FII 508.12 cr    DII 356.40 cr

(17th AUG – 21st AUG 2026)

As we discussed in the previous report dated 10th August 26 market behaviour remained on the expected lines during the week passed by as due to paused to an uptrend and in absence of buying pressure breakout were failed, resultant into slide of nifty upto our support of 24267 i.e. made a weekly low of 24265.96

Further a bearish candle following bearish doji star suggest selling pressure and an interruption to prevailing bullish trend, an active shift in sentiments towards the bearish. Hence if nifty continue with its south ward journey and decisively breakdown 24223 then it may slide further upto 24080 to 23937. If more supply will accentuate then it may have chances to test 23793.

Furthermore, this structure is indicates that the breakout area is being retested for support. This is a classic example of a ‘change of polarity’ test: if this level will holds successfully, Nifty could move upto  24,510 to 24,653. If Nifty rises above these resistance levels and sustains there, it could advance to the 24,795–24,940 range.

Bank Nifty OUTLOOK:                                                                                             

SPOT:  57491.10  Pcr: 0.78 Max Ce OI on 58000 & Max Pe OI on 58000

On August 14, 2026, a Bank Nifty index was closed at 57491.10 (-144.15) (-0.25%). The total movement in the index was 301.00 during the trading session.  The index made a high of 57681.45 and a low of 57380.45.

Technical view

Important support and resistance level of Bank Nifty Future are 57490 and 57902 respectively.

Intra Day support and resistance level of Bank Nifty Future are 57607 and 57784 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 50.0. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis

Bank nifty is trading above 5 out of 8 SMA’s (20, 50, 100, 150, 200 Day).

Bank nifty is trading below 3 out of 8 SMA’s (5, 10, 30 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)

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