Date 29.07.2026
NIFTY OUTLOOK: 23985.35 FII 755.33 cr DII 1664.16 cr
As discussed yesterday market behaviour remained on the expected lines during the day, as nifty get tiny movement and failed to breakout of 24053 i.e. made a day high of 24041.15
Further an inverse hammer kind small bullish candle appeared on daily chart of nifty suggest slowdown in buying pressure and small profit booking hence if nifty decisively breakdown 23933 then it may slip upto 23881 to 23830. If more supply will accentuate then it may have chances to test 23777.
Furthermore imminent sentiments are still positive hence if nifty decisively breakout 24037 then it may rally upto 24089 to 24141. If more demand will accentuate then it may have chances to test 24193.
Bank Nifty OUTLOOK:
SPOT: 56755.60 Pcr: 0.87 Max Ce OI on 58000 & Max Pe OI on 58000
On July 28, 2026, a Bank Nifty index was closed at 56755.60 (-331.60) (0.58%). The total movement in the index was 381.80 during the trading session. The index made a high of 57054.20 and a low of 56672.40.
Technical view:
Important support and resistance level of Bank nifty are 56090 and 57900 respectively.
Intraday Support and resistance level of Bank nifty are 56650 and 568605 respectively.
The Relative Strength Index (RSI) for the Nifty Bank index at 46.0. 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 (50, 100, Day).
Bank nifty is trading below 6 out of 8 SMA’s. (5, 10, 20, 30, 150, 200 Day)
No active Candlestick Pattern was identified in bank nifty on daily chart.
Important Pivot Point Levels for Today:
Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 23859.7 | 23907.15 | 23946.25 | 23993.7 | 24032.8 | 24080.25 | 24119.35 |
Bank Nifty
| S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
| 56218.8 | 56445.6 | 56600.6 | 56827.4 | 56982.4 | 57209.2 | 57364.2 |
By Ashok Bhandari (RA)
SEBI Regd. No. INH00019549
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