Daily Morning Report – 30/10/2026

Date 30.10.2026

Technical Summary Nifty CMP 22936.75

As discussed yesterday market behaviour remained on the expected lines during the day, as sustained, aggressive buying interest fueled Nifty’s upward trajectory, driving a rally up to intraday highs of 22961.95. The index ultimately closed right next to our projected target level of 22,933, wrapping up the day at 22936.75.

Further the emergence of a strong bullish candle on the Nifty daily chart signals a continuation of positive market momentum. Hence a decisive breakout above the immediate resistance of 23014 potentially triggering tactical rally toward 23091 to 23170. if demand accentuates further and buying pressure intensifies, the index stands a strong chance of extending its gains to 23247.

Conversely, on the downside, the 22859 to 22781 zone is expected to act as immediate support for the Nifty. A sustained breakthrough below these support levels could alter the short-term structure and drift the index down toward 22704 to 22626.

Bank nifty

• Closed at 54,909.65 Up +642.25 points (+1.18%).
• Immediate Support: 54,650-54,500.
• Major Support: 54,000-53,900
• Immediate Resistance: 55,200–55,300
• Major Resistance: 55500-55,600
• A sustained move above 55,500 may strengthen bullish momentum, while a break below 54,000 could weaken the recovery.

Open Interest Analysis

Nifty 50: A PCR of approximately 1.44, indicating strong put OI relative to call OI. Max pain is around 22,900, close to the spot level. The highest call OI is at 23,500, while the highest put OI is at 22,000.

Bank Nifty: The PCR around 0.97 and max pain near 55,500. The largest call OI is reported at 57,000, while the largest put OI is at 58,000 in the captured strike range.

3.  Pivot Levels:

Classic pivot levels calculated from 29 October 2026 OHLC data.

4.  FII / DII Activity

• FII: a net selling of ₹944
• DII: a net Buying of ₹1924
• Domestic institutional buying outweighed foreign investor selling, providing support to the market. Continued DII buying will be important to sustain the recovery.

5.  International Cues

• US Market: The latest reported session showed modest gains in the Dow Jones, S&P 500 and Nasdaq
• Crude oil: Brent crude remained elevated around $114 per barrel amid West Asian supply concerns, a key risk for India.
• US Federal Reserve: The Fed kept interest rates unchanged, reducing immediate uncertainty for global equity markets.
• US bond yields: Elevated US Treasury yields remain a concern for emerging-market fund

Overall View

Indian equities staged a strong recovery on Thursday, with Nifty gaining 1.05% and Bank Nifty advancing 1.18%. Positive earnings, the Fed’s decision to hold rates and domestic institutional buying supported sentiment. Nifty’s next important hurdle is 23,000–23,050, while Bank Nifty needs to sustain above 55,500–55,600 for further upside. Despite the positive momentum, elevated crude oil and foreign selling warrant caution. Traders should follow key support levels and maintain disciplined stop-losses.

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