Daily Morning Report – 22/04/26

NIFTY OUTLOOK: 24576.60    FII -1918.99 cr    DII 2221.27 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as positive trend take the nifty rally upto 24601.7

Further a bullish candle appeared on daily chart of nifty suggest trend remain positive and nifty may rally upto 24771 to 24867 on successful taken out 24673. If more demand will accentuate then it may have chances to test 24965.

However for down side 24480 to 24381 may act as immediate supports for the nifty, if break through below these supports and sustain may drift down the nifty upto 24285 to 24187.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  57371.45 Pcr: 1.11 Max Ce OI on 60000 & Max Pe OI on 55000

On April 21, 2026, a Bank Nifty index was closed at 57371.45 (789.10) (1.39%). The total movement in the index was 760 during the trading session.  The index made a high of 57456.30 and a low of 56696.30.

Technical view                                        

Important support and resistance level of Bank nifty are 55880 and 57920 respectively.

Intraday Support and resistance of Bank nifty are 57160 and 57580 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 59.2. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis

Bank nifty is trading above 6 out of 8 SMA’s (5, 10, 20, 30, 50, 200 Day).

Bank nifty is trading below 2 out of 8 SMA’s (100, 150 Day).

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

• Short Line Uptrend

Macro

1.Dollar index is @ 98.202.

2.Vix is @ 19.58 (+3.76 %) .

3.Crude is @ 88.43

Note:  Wall Street slipped on Tuesday, giving up gains from the morning, amid rising uncertainty over the state of more peace talks between the U.S. and Iran.

Trump says he does not want to extend ceasefire as uncertainty remains over peace talks. Both side are ready for 2nd round of war in last 14 days we may see war resuming anytime.

If war starts Bab-el-Mandeb a 2nd trade route will be closed by Hutis of Yemen. Both the trade routes carry 35-40% of oil supply. If war starts Crude oil prices will again shoot up. European countries will be affected badly. Suez Canal gets connected to red sea Via Bab-el-Mandeb. Many European countries have already announced they are left with 15-20 days aviation fuel.

Everyone is talking about oil & gas but no one is talking about internet cable which goes through several critical undersea fiber-optic internet cables pass directly under the Strait of Hormuz & Bab-el-Mandeb strait , linking Asia, the Middle East, and Europe. These cables are crucial for global data. Iran can damage these cables as well which will be devastating for entire world.

We are heading towards bigger conflict than world has seen before.

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

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