Daily Morning Report – 24/08/2026

Date 24.08.2026

NIFTY OUTLOOK: 24252.00   FII -542.71 cr    DII 2124.14 cr

(24th AUG – 28th AUG 2026)

As we discussed in the previous report dated 17th August 26 market behaviour remained on the expected lines during the week passed by as interruption to bullish trend and active shift in sentiments towards the bearish results into continuation of south ward journey of nifty upto 24025.65

Further on weekly chart of nifty has higher swing lows formation with this context a bearish candle with long lower wick appeared on daily chart of nifty suggest that sellers losing its control, buyers are step in and recover the price back, hence if nifty will get successful supporting buying then it may rally upto 24387 to 24523. If break-through above these resistances and sustain may push the nifty rally further upto 24658 to 24793.

Furthermore this candle near the resistance suggest that even though the price recovered, the fact that sellers could push the price down significantly, reveled weakness in buying pressure hence if nifty continue with its selling pressure may find support around 24116 to 23981. If failed to defend these supports then it may slide further upto 23846 to 23710.

Bank Nifty OUTLOOK:                                                                                             

SPOT:  57761.95  Pcr: 0.86 Max Ce OI on 58000 & Max Pe OI on 57000

On August 21, 2026, a Bank Nifty index was closed at 57761.95 (266.05) (0.46%). The total movement in the index was 290.9 during the trading session.  The index made a high of 57772.45 and a low of 57481.55.

Technical view :

Important support and resistance level of Bank Nifty Future are 57513 and 57929 respectively.

Intra Day support and resistance level of Bank Nifty Future are 57646 and 57797 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 53.7. 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.

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

• Closing Marubozu Uptrend
• Long Line Uptrend

Important Pivot Point Levels for Today:

Nifty (Spot)

Bank Nifty (Spot)

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549