Daily Morning Report – 18/03/26

NIFTY OUTLOOK: 23581.15 FII -4741.22 cr    DII 5225.32 cr

As discussed yesterday market behavior remained on the expected lines during the day, as nifty gets supportive buying and rally up to our resistance of 23622 I e. made a day high of 23656.8. after testing a resistance nifty close at 23581.15

Further a small spinning type candle appeared on daily chart of nifty suggest continuation of its bullish sentiments and shift the resistance to 23685 to 23787. If break-through above these resistances and sustain may push the nifty up to 23890 to 23991.

However for down side 23478 to 23377 may act as immediate support for the nifty if break below these supports and sustain may drift down the nifty up to 23273 to 23170.

Bank Nifty OUTLOOK:   

SPOT:   54876.00   Pcr: 0.78 Max Ce OI on 61000 & Max Pe OI on 59000

On March 17, 2026, a Bank Nifty index was closed at (462.60) (0.85%). The total movement in the index was 882.85 during the trading session.  The index made a high of 54996 and a low of 54113.15.

Technical view:

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

Intraday Support and resistance of Bank nifty are 54633 and 55118 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 31.80. Below 30 is considered oversold and above 70 overbought.  

Bank nifty Day SMA Analysis:

Bank nifty is trading above 1 out of 8 SMA’s. (5 Day)

Bank nifty is trading below 7 out of 8 SMA’s (10, 20, 30, 50, 100, 150 Day).

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

Macros :

1.Dollar index is @ 99.29

2.Vix is @ 22.37 (-4.85 )

3.Crude is @ 94.89

Note:  Iran’s security chief Ali Larijani was killed by Israel, the government confirmed on Tuesday, the most senior figure targeted since the ​U.S.-Israeli war’s first day, while a senior Iranian official said Iran’s new supreme leader rejected de-escalation offers conveyed by intermediary countries.

Larijani was widely viewed as one of Iran’s most powerful figures and a ‌confidant of slain Supreme Leader Ayatollah Ali Khamenei and his son and successor, Mojtaba. The security chief had a reputation for pragmatic relations with other factions in the ruling system and foreign diplomats.

Mojtaba Khamenei, Iran’s new ​supreme leader, rejected proposals conveyed to Iran’s Foreign Ministry for “reducing tensions or ceasefire with the United States,” according to a senior Iranian official who asked not to be identified.

Escalation will rise more in the Iran -US war .

Important Pivot Point Levels for Today 

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549