Daily Morning Report – 20/07/2026

Date 20.07.2026

NIFTY OUTLOOK: 24334.30   FII -376.41 cr    DII 1017.89 cr

(20th JUL – 24th JUL 2026)

As we discussed in the previous report dated 13th July 26 market behaviour remained on the expected lines during the week passed by as nifty opened gap down, hit the breakdown level of 24041 (weekly low of 24000.2) from where buyers aggravated and take the nifty rally upto breakout level of 24371 i.e. made a weekly high of 24367.3.

Further small bullish candle appeared on weekly chart of nifty suggest buyers attempted to maintaining the control of nifty. Hence if nifty will succeed to gets supportive buying then it may rally further towards next resistance of 24490 to 24645. If break-through above these resistances and sustain may push the nifty rally upto 24800 to 24955.

Furthermore this candle indicates normal buying pressure hence if nifty failed to get supportive buying then it may slide upto 24180 to 24024. If break below these supports and sustain may drift down the nifty upto 23869 to 23713.

Bank Nifty OUTLOOK:                                                                                             

SPOT:  58521.40  Pcr: 1.01 Max Ce OI on 60000 & Max Pe OI on 58000

On July 17, 2026, a Bank Nifty index was closed at 58521.40 (939.15) (1.63%). The total movement in the index was 1054.70 during the trading session.  The index made a high of 58596.85 and a low of 57542.15.

Technical view

Important support and resistance level of Bank nifty are 58164 and 58890 respectively.

Intraday Support and resistance level of Bank nifty are 58228 and 58810 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 60.1. Below 30 is considered oversold and above 70 overbought.

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).

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

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

• Long Line Uptrend

Important Pivot Point Levels for Today          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549