Daily Morning Report – 19/03/26

NIFTY OUTLOOK: 23777.80 FII -2714.35 cr    DII 3253.03 cr

As discussed yesterday market behavior remained on the expected lines during the day, as continues bullish sentiments take the nifty rally upto 23862.

Further a small bullish candle appeared on daily chart of nifty suggests imminent sentiments is positive and any further up move from here may encounter resistance around 23876 to 23975. If break-through above these resistances and sustain may push the nifty upto 24073 to 24171.

Furthermore this candle also indicates diminishing of buying pressure and small profit booking, hence if any profit booking will persist then on decisively breakdown of 23679 nifty may slip further upto 23581 to 23483. If more supply will accentuate then it may have chances to test 23383.

Bank Nifty OUTLOOK:   

SPOT:  55326.05  Pcr: 0.78 Max Ce OI on 61000 & Max Pe OI on 59000

On March 18, 2026, a Bank Nifty index was closed at (450) (0.82%). The total movement in the index was 865.05 during the trading session.  The index made a high of 55554.15 and a low of 54689.10.

Technical view                                        

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

Intraday Support and resistance of Bank nifty are 55088.16 and 55563.94 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).

One active Bullish Candlestick Pattern was identified in bank nifty on daily chart.

• Short line uptrend

Macros :

1.Dollar index is @ 99.917.

2.Vix is @ 24.51 ( +9.57 %).

3.Crude is @ 97.67.

Note:  Iran’s huge Pars gas field was hit on Wednesday, a major escalation in the U.S.-Israeli war, prompting Tehran to announce it would respond with attacks on oil and gas targets throughout the Gulf.

Oil prices shot up after the attack in a conflict that has already halted shipping from the world’s most important energy-producing region and could now bring ‌lasting damage to its infrastructure. Benchmark Brent crude prices rose around 5% to above $108. Stock markets veered lower.

Qatar, a close U.S. ally which hosts the largest U.S. airbase in the region, blamed the attack on Israel without mentioning any U.S. role. The Qatari foreign ministry spokesperson called it a “dangerous and irresponsible” escalation that put global energy security at risk. ⁠The UAE also denounced the attack.

Iran listed an array of prominent regional oil and gas targets belonging to Saudi Arabia, the UAE and Qatar, which it said were now “direct and legitimate targets” and should be evacuated at once before it struck them in the coming hours.

We may see crude oil prices may get now 125-130 $ soon which will disturb entire worlds energy supply .

Important Pivot Point Levels for Today

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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