Daily Morning Report – 27/10/2026

Date 27.10.2026

Technical Summary Nifty CMP 22753.20

As discussed yesterday market behavior remained on the expected lines during the day, as to continuation its bearish trend nifty opened lower near to our breakdown level 22518 i.e. opened at 22524.4, dipped to an intraday low of 22387.35 and bouncing from there upto our level of 22765 i.e. to the day High of 22753.2

Further a bullish candle has formed on the daily chart, coinciding with the previous session’s candle to create matching lower wicks and nearest low. This price action reflects a classic tweezer-style bottom near recent lows, signaling that sellers failed to push Nifty lower as buyers stepped in to absorb the selling pressure. Consequently, near-term market sentiment has shifted to bullish. Hence if decisively breakout 22836 could spark a rally toward 22918 to 23000. If buying momentum intensifies further, nifty has a strong chances to test 23083.

Furthermore underway trend is bearish hence if sellers will re strike may drift down the nifty upto 22670 to 22588. A decisive break and sustained trading below these immediate support zones could trigger further liquidation, pushing the index down to test 22505 – 22423.

Bank nifty:

• Closed at 54,366.70, Up + 60points (+0.10%).
• Immediate Support: 54,200-54050.
• Major Support: 53700-53,600
• Immediate Resistance: 54,535–54,700
• Major Resistance: 54,800-55,100
• A sustained move above 54,800 may improve sentiment, while a break below 53,700 could increase downside pressure.

Open Interest Analysis:

Nifty 50: The latest available option-chain data shows a Put-Call Ratio (PCR) of approximately 1.13, with maximum call open interest at 23,000 and maximum put open interest at 22,500. Max pain is near 22,750 for the 27 October expiry. These levels suggest potential resistance around 23,000 and support near 22,500, with expiry-related volatility possible.

Bank Nifty: The latest available option-chain data shows PCR around 0.80, max pain near 54,900, the highest call OI at 56,000, and the highest put OI at 54,000. The PCR indicates a relatively cautious positioning; 54,000 is an important level to monitor, while 54,900–55,000 may act as a near-term hurdle.

3.  Pivot Levels: 

Classic pivot levels calculated from 26 October 2026 OHLC data.

4.  FII / DII Activity

• FII: a net Selling of ₹1,462
• DII: a net buying of ₹2,610
• Domestic institutional buying outweighed foreign investor selling, providing some support to the market. However, continued FII selling remains a risk for any recovery.

5.  International Cues

• US Market : Closed higher on Monday; the S&P 500 gained 0.7%, the Dow Jones 0.3%, and Nasdaq 8%.
• Asian markets: Positive sentiment was reported in Asian equities, though intraday trends may
• Crude oil: Prices eased on Monday but remain elevated amid West Asian geopolitical tensions, creating a risk for India’s import bill and inflation.
• US Federal Reserve: The 27–28 October policy meeting is a major global trigger; markets will watch the decision and guidance on future interest rates.

Overall View:

Indian markets recovered on Monday, but the rebound needs confirmation. Nifty’s immediate direction will depend on its ability to sustain above 22,800–22,875, while Bank Nifty needs to hold its support zone and move above 54,800 for stronger momentum. With the 27 October expiry, elevated crude oil prices, FII selling and the US Fed meeting ahead, traders should expect possible volatility and priorities disciplined position sizing and predefined stop-losses.

By ASHOK BHANARI | SEBI REGISTERED REASERCH ANALYST | REG. INH000019594