Daily Morning Report – 20/05/2026

Date 20.05.2026

NIFTY OUTLOOK: 23618.00    FII -2457.49 cr    DII 3801.68 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as nifty after a tiny up side movement its slip towards our support of 23567 i.e. made a day low of 23587.2

Further a small bearish candle appeared on daily chart of nifty suggest small profit booking hence if it continue with its profit booking then on decisively breakdown of 23541 nifty may slide upto 23465 to 23387. If more supply will accentuate then it may have chances to test 23310.

Furthermore nifty struck under the small range hence for upside 23695 to 23773 may act as immediate resistance for nifty, if break through above these resistances and sustain may push the nifty upto 23848 to 23925.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  53409.15  Pcr: 0.76 Max Ce OI on 60000 & Max Pe OI on 50000

On May 19, 2026, a Bank Nifty index was closed at 53409.15 (-127.85) (-0.24%). The total movement in the index was 433.60 during the trading session.  The index made a high of 53770.65 and a low of 53337.05.

Technical view:

Important support and resistance level of Bank nifty are 52700 and 54700 respectively.

Intraday Support and resistance of Bank nifty are 53285 and 53530 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 40.0. 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, 200 Day).

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

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549