Daily Morning Report – 29/05/2026

Date 29.05.2026

NIFTY OUTLOOK: 23907.15    FII -1042.70 cr    DII 3821.00 cr

As discussed yesterday market behaviour remained on the expected lines during the day, as nifty respected the our resistance of 23983, i.e. made a day High of 23983.2 and slip from there to day low of 23858.25

Further a small bullish candle with upper wick appeared on daily chart of nifty suggest selling at high level hence if sellers will take a control then nifty may slide upto 23777 to 23713 on decisively breakdown of 23843. If more supply will accentuate then it may have chances to test 23648.

However short term trend is still positive and further upside from here may find resistance around 23973 to 24036 for nifty, if break through above these resistances and sustain may push the nifty upto 24105 to 24166.

Bank Nifty OUTLOOK:

SPOT:  54853.85  Pcr: 0.98 Max Ce OI on 60000 & Max Pe OI on 60000

On May 27, 2026, a Bank Nifty index was closed at 54853.85 (-239.05) (-0.43%). The total movement in the index was 483.10 during the trading session.  The index made a high of 55221.70 and a low of 54738.60.

Technical view:

Important support and resistance level of Bank nifty are 54445 and 55520 respectively.

Intraday Support and resistance of Bank nifty are 54720 and 54985 respectively.

The Relative Strength Index (RSI) for the Nifty Bank index at 51.4. Below 30 is considered oversold and above 70 overbought.

Bank nifty Day SMA Analysis:

Bank nifty is trading above 4 out of 8 SMA’s  (5, 10, 20, 50 Day).

Bank nifty is trading below 4 out of 8 SMA’s (30, 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