Daily Morning Report – 20/03/26

NIFTY OUTLOOK: 23002.15 FII -7558.19 cr    DII 3863.96 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as selling pressure take the nifty extreme down upto 22930.

Further a opening bearish gap candle with upper wick on daily chart of nifty suggest selling pressure for nifty and this southward journey may find support around 22890 to 22775. If failed to defend these supports then it may slip further upto 22661 to 22547.

However for upside 23115 to 23229 may act as immediate resistance for the nifty, if break through above these resistances and sustain may push the nifty upto 23343 to 23457.

Bank Nifty OUTLOOK:   

SPOT:  53451.00  Pcr: 0.78 Max Ce OI on 59000 & Max Pe OI on 59000

On March 19, 2026, a Bank Nifty index was closed at (-1875.05) (3.3%). The total movement in the index was 909.70 during the trading session.  The index made a high of 54150.30 and a low of 53240.60.

Technical view:

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

Intraday Support and resistance of Bank nifty are 53200.80 and 53701.70 respectively.  

The Relative Strength Index (RSI) for the Nifty Bank index at 28.80. Below 30 is considered oversold and above 70 overbought.  

Bank nifty Day SMA Analysis

Bank nifty is trading above 0 out of 8 SMA’s.

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

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

Macros :

1.Dollar index @ 99.03 (-0.84 )

2.Vix is @ 24.05 ( -4.11%)

3.Crude is @ 94

Note: War intensity in Gulf after Isreal hit gas & Oil assets in Iran . Iranian attacks ‌have knocked out 17% of Qatar’s liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, Qatar Energy’s CEO and state minister for energy affairs told Reuters on Thursday.

Saad al-Kaabi said two of Qatar’s 14 LNG trains and one of its two gas-to-liquids (GTL) facilities were damaged in ​the unprecedented strikes. The repairs will sideline 12.8 million tons per year of LNG for three to five years, he said ​in an interview.

State-owned Qatar Energy will have to declare force majeure on long-term contracts for up to five years for LNG supplies bound for Italy, Belgium, South Korea, and China due to the two damaged trains, Kaabi said.

“I mean, these are long-term contracts that we have to declare force majeure. We already declared, but that was a shorter term. Now it’s whatever the period is,” he said.

Indian Supplies have been badly effected on on going war. Halt in Gas supplies will affect Urea production. India, a leading importer of fertilizers, is in talks to increase purchases from Russia, Belarus and Morocco as Middle East tensions and ‌China’s export curbs risk tightening supplies ahead of the summer planting season, government and industry sources said.

India, where farming is a mainstay, imports fertilizers such as urea, ammonium phosphate (DAP) and potash, as well as liquefied natural gas, a key feedstock for urea production.

Although there are no shortages at present, the government is keen to avoid any shortfalls during the summer season. Amid disruptions in the Middle East, China, a top fertilizer ​exporter, is tightening export restrictions.

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549