Daily Morning Report – 29/04/2026

NIFTY OUTLOOK: 23995.70    FII -2103.74 cr    DII 1712.01 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as supportive buying advances the nifty upto our level of 24177 i.e. made a day high of 24181.8, failed to sustain over there and slip to day low of 23957.05.

Further a small bearish candle with upper wick suggest selling pressure for nifty hence if more selling will persist then it may slide upto 23833 to 23753 on decisively breakdown of 23915. If more supply will accentuate then it may have chances to test 23671.

However for upside 24157 to 24240 act as immediate resistance, if breakthrough above these resistances and sustain may push the nifty upto 24320. An imminent resistance of 24077 may find between the big move of 23995.7 – 24157.

Bank Nifty OUTLOOK:                                                                                                   

SPOT:  55400.35 Pcr: 0.94 Max Ce OI on 60000 & Max Pe OI on 60000

On April 28, 2026, a Bank Nifty index was closed at 55400.35 (-863.95) (-1.54%). The total movement in the index was 874.30 during the trading session.  The index made a high of 56138.05 and a low of 55263.75.

Technical view:

Important support and resistance level of Bank nifty are 55133 and 56520 respectively.

Intraday Support and resistance of Bank nifty are 55160 and 55640 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 48.4. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 2 out of 8 SMA’s (20, 30 Day).

Bank nifty is trading below 6 out of 8 SMA’s (5, 10, 50, 100, 150, 200 Day).

No active Candlestick Pattern was identified in bank nifty on daily chart.

Important Pivot Point Levels for Today                                                                                                                          

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549