Daily Morning Report – 21/11/25

NIFTY OUTLOOK: 26192.15 FII 283.65 cr DII 824.46 cr

As discussed yesterday, market behaviour remained on expected lines. The positive uptrend continued as Nifty took out the resistance of 26104 and rallied up to our level of 26248, making a day high of 26246.65.

A bullish spinning top candle on the daily chart indicates indecision between bulls and bears; however, the trend remains positive. On a decisive breakout above 26241, Nifty may rally towards 26290–26338. If demand strengthens, it may test 26387.

At the same time, this candle has formed after a sharp rally near the all-time high resistance, and the daily RSI has entered the overbought zone, suggesting short-term weakness and a possibility of profit booking. If selling emerges, a decisive breakdown below 26143 may drag Nifty to 26095–26045. If supply intensifies, it may also test 25997.

BANK NIFTY OUTLOOK
Spot: 59347.70 PCR: 1.23 Max CE OI: 60000 Max PE OI: 58000

On 20th November 2025, Bank Nifty closed at 59347.70, up 131.65 points (0.22%). The index moved 314.85 points during the day, making a high of 59440.10 and a low of 59125.25.

Technical View
Key support and resistance levels are 58235 and 59550.
Intraday support and resistance are 59261 and 59434.

Intraday Breakout Strategy
• Go long above 59434 with SL 59405 and target 59521.
• Go short below 59261 with SL 59290 and target 59175.

RSI for Bank Nifty stands at 74.0 (above 70 indicates 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.

 Bullish candlestick Pattern was identified in bank nifty on daily chart.

• Highwave Uptrend
• Long Legged Doji Uptrend

Macro:

1. Dollar index is @ 100.135

2. S&P 500 Vix is @ 25 (+5.66 % )

3. Brent crude is @ 63.34

4. US 10 years bond yield is @ 4.105

Note:
Nonfarm payrolls rose in September, but the unemployment rate also increased, indicating ongoing weakness in the U.S. labour market. While job additions beat expectations, downward revisions in August payrolls reflect moderation.

Rate-cut hopes in the U.S. are fading. CME Group’s survey shows only 39.6% expecting a rate cut, partly due to the government shutdown delaying key data releases. Investors are becoming cautious about rate-cut expectations and stretched valuations in AI-related companies.

Important Pivot Point Levels for Today           

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549