Daily Morning Report – 29/01/26

NIFTY OUTLOOK: 25342.75   FII 480.26 cr    DII 3360.59 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as supporting buying take the nifty rally upto our level of 25383, i.e. nifty made a day high of 25372.1

Further a bullish candle appeared on daily chart of nifty suggest continuation of bullish momentum hence if nifty continue with its imminent bullish sentiments then on successful taken out of 25410 nifty may rally upto 25477 to 25543. If more demand will accentuate then it may have chances to test 25610.

However for down side 25277 to 25210 may act as immediate support for the nifty if break below these supports and sustain may drift down the nifty upto 25143 to 25077.

Bank Nifty OUTLOOK:   

SPOT:   59598.80  Pcr: 1.09 Max Ce OI on 60000 & Max Pe OI on 60000

On January 28, 2026, a Bank Nifty index was closed at 59598.80 (393.35) (0.66%). The total movement in the index was 459.80 during the trading session.  The index made a high of 59699.90 and a low of 59240.10.

Technical view                                        

Important support and resistance level of Bank nifty are 58980 and 60310 respectively.  

Intraday Support and resistance of Bank nifty are 59472 and 59725 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 52.8. 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 Candlestick Pattern was identified in bank nifty on daily chart.

• Long Legged Doji Uptrend
• Highwave Uptrend

Important Pivot Point Levels for Today           

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549