Daily Morning Report – 20/01/26

NIFTY OUTLOOK: 25,585.50
FII: -Rs. 3,262.82 cr  DII: Rs. 4,234.30 cr

As discussed yesterday, market behaviour remained on expected lines during the session, with sellers taking the lead and dragging Nifty down to an intraday low of 25,494.35.

A bearish candle on the daily chart suggests continuation of bearish sentiment. If Nifty continues its southward move, a decisive breakdown below 25,530 could lead to further downside towards 25,477–25,427. If selling pressure intensifies, the index may test 25,370.

However, the presence of a lower wick indicates buying attempts at lower levels. If Nifty attracts sustained buying interest, a decisive breakout above 25,640 could push the index towards 25,693–25,750. With stronger demand, Nifty may test 25,805.

BANK NIFTY OUTLOOK:
Spot: 59,891.35  PCR: 0.99
Max CE OI: 60,000  Max PE OI: 59,500

On 19th January 2026, Bank Nifty closed at 59,891.35, down 203.80 points or 0.34 percent. The index witnessed an intraday movement of 512.90 points, with a high of 60,107.50 and a low of 59,594.60.

Technical View:
Key support and resistance levels for Bank Nifty are placed at 59,700 and 60,475, respectively.
Intraday support and resistance levels are seen at 59,750 and 60,032.
The RSI for Bank Nifty stands at 57.3. A reading below 30 indicates oversold conditions, while above 70 suggests overbought levels.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150, 200 Day).

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

• Inside Uptrend

Macro :

1.Dollar index is @ 98.84 .

2.Vix is @ 18.84 (+18.79 % )

3.Brent crude is @ 64.15

4.US 10 years bond yield is @ 4.267

Note:
Geopolitical tensions are escalating in the Middle East between Iran and the US, with experts anticipating the possibility of conflict over the next 5–7 days. Markets are likely to remain on edge, with bullion and metal prices expected to stay firm, while crude oil may move higher amid rising geopolitical risks.

Important Pivot Point Levels for Today           

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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