Daily Morning Report – 21/05/2026

Date 21.05.2026

NIFTY OUTLOOK: 23659.00    FII -1597.35 cr    DII 1968.35 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as nifty opened near our support of 23465 i.e. opened at 23457.25, slip from there to day low of 23397.3 i.e. near to our support of 23387 and bounce from there near to our resistance of 23695 i.e. made a day High of 23690.9

Further nifty under consolidation from past seven trading session and no new formation has been observed. A bullish candle appeared on daily chart of nifty suggest 23735 to 23813 may act as immediate resistance for nifty, if break through above these resistances and sustain may push the nifty upto 23887 to 23965.

However for down side 23583 to 23506 may act as immediate supports for the nifty, if break through below these supports and sustain may drift down the nifty upto 23430 to 23353.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  53562.20 Pcr: 0.79 Max Ce OI on 60000 & Max Pe OI on 50000

On May 20, 2026, a Bank Nifty index was closed at 53562.20 (153.05) (-0.29%). The total movement in the index was 804.80 during the trading session.  The index made a high of 53640.90 and a low of 52836.10.

Technical view:

Important support and resistance level of Bank nifty are 53200 and 54200 respectively.

Intraday Support and resistance of Bank nifty are 53300 and 53780 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 41.30. 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).

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

• Closing Marubozu Uptrend

 Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549