What is Banknifty?
Banknifty is an index comprising 12 public and private banks with the highest market cap and most liquid from the Banking sector.
BANK NIFTY
NSE
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Short term - Technical Outlook
Bank Nifty continues to hold a cautious undertone, though it remains constructive by trading above all key moving averages, the 20, 50, 100, and 200-day EMAs, as the index attempts to stabilize after recent weakness. The 58,000–58,100 zone stands as the immediate resistance, and a sustained move above this could revive bullish momentum, paving the way for an advance towards 58,400, followed by the 58,600–58,700 resistance zone.
On the downside, the 57,600–57,500 region remains a crucial support zone, and holding above this level is essential to prevent further weakness. A decisive break below it, however, could accelerate selling pressure and drag the index towards 57,300–57,200. Overall, the near-term technical outlook stays cautious. A sustained close above 58,000 would meaningfully improve the setup, while a break below 57,500 would tilt the bias negative.
Short term Research Report Call
Buy Above: 58000 | Targets: 58100, 58200, 58300 | Stop-loss: 57900
Sell Below: 57800 | Targets: 57700, 57600, 57500 | Stop-loss: 57900
Short term Chart
Long term - Technical Outlook
Bank Nifty continues to trade with a cautious undertone. A sustained move above 58,000 will be crucial to maintain the ongoing recovery. Technically, a sustained move above the 58,400 mark could strengthen bullish momentum and extend the rally towards the 58,600–58,700 region. However, a break below 57,200 may trigger profit booking and lead to weakness towards the 57,000–56,800 support zone.
Long term Research Report Call
Buy Above: 58000 | Targets: 58100, 58200, 58300 | Stop-loss: 57900
Sell Below: 57800 | Targets: 57700, 57600, 57500 | Stop-loss: 57900
Long term Chart
July 22nd 2026
Indian markets opened on a weak note, weighed down by rising crude oil prices and renewed concerns over potential U.S. tariffs on pharmaceutical imports, following comments from President Donald Trump. The pharma sector is under pressure, declining nearly 2% in early trade, dragging the broader market lower.
On the positive side, Bajaj Auto emerged as the top Nifty gainer, surging over 4% after reporting a strong Q1 performance driven by better-than-expected margins and an encouraging export outlook. TVS Motor also gained more than 4%, providing support to the auto sector.
However, crude oil remains the key concern, with prices extending gains and currently trading above the $85 per barrel mark, raising concerns over inflation and India's import bill.
Meanwhile, the Indian rupee continues to remain under pressure, trading near the 96.3 level against the U.S. dollar, reflecting persistent external headwinds and elevated energy prices. Investors are expected to remain cautious as they closely monitor geopolitical developments, crude oil movements, and stock-specific earnings for further market direction.
Technical view
Nifty 50
Nifty 50 opened on a weaker note near the 24,150 mark, continuing to trade above the crucial 24,000 psychological support. Holding above this level remains essential to maintain the broader constructive sentiment built over the recent recovery phase. From a technical perspective, the 24,200 level has now emerged as the immediate and crucial resistance, with the broader 24,200–24,300 zone expected to cap upside momentum. A sustained move above this band would reinforce bullish sentiment and could pave the way for an advance towards the 24,400–24,500 region.
On the downside, a sustained break below 24,000 could trigger renewed selling pressure and drag the index towards the 23,900–23,800 support zone. Momentum indicators have weakened, with the Relative Strength Index (RSI) tilting lower and attempting to slip below the neutral 50 mark, indicating fading momentum and a cautious near-term outlook. Overall, the technical structure stays fragile, with 24,000 as the key support to defend and 24,200 as the crucial resistance to reclaim; a break below 24,000 could shift the bias negative, while a sustained move above 24,200 would be needed to revive bullish momentum.
Bank Nifty
Bank Nifty opened near the 57,768 mark and came under immediate selling pressure, slipping quickly towards the 57,300–57,200 support zone. Holding above this region will be crucial to prevent further weakness and stabilize the near-term technical structure. From a technical perspective, the 57,800–58,000 zone is expected to act as the crucial hurdle for the index. A sustained move above this band could improve sentiment and revive buying momentum, paving the way for an advance towards the 58,400 resistance zone.
On the downside, the 57,300–57,200 region remains the immediate support. A sustained break below this zone could accelerate selling pressure and drag the index towards the 57,000–56,800 support region. Overall, the near-term technical outlook has turned weak. with 57,300–57,200 as the key support to defend and 57,800–58,000 as the resistance to reclaim for a shift towards a more constructive structure.
Market support level is 57,200. Market resistance level is 58,000.
Resistance 58,000
Support 57,200
FII & DII Activities
Particular
FIIs
DIIs
Net Purchase/ Sales (Cr)
21 Jul 2026
+1,650.16
-656.88
MTD-May (Cr)
July
-4,017.75
+21,729.16
Global Market
July 22nd 2026
NASDAQ
USA
25,837.21
22nd July
Dow Jones
USA
52,224.64
22nd July
FTSE
UK
10,585.91
22nd July
DAX
GERMAN
25,011.35
22nd July
GIFT Nifty
Singapore
23,970
22nd July
NIKKEI 225
Japan
66,079.88
22nd July
Shanghai
China
3,851.31
22nd July
S&P 500
USA
7,509.2
22nd July
July 22nd 2026
Top Gainers
TGBHOTELS
9.86
MPSLTD
2,553
ARENTERP
41.22
UFLEX
503.15
Top Losers
EICHERMOT
7,623
BANKBARODA
245.75
INDUSINDBK
1,061.45
FEDERALBNK
354.7
Technicals
Check live levels for all scripts
Buy Above
58023.92
R1
58117.37
R2
58215.08
R3
58389.25
Stop Loss
57913.47
Pivot
57955.95
(All values are in INR)
Sell Below
57887.98
S1
57794.53
S2
57696.82
S3
57522.65
Stop Loss
57998.43
Classic
Woodie
Camarilla
| Method | R4 | R3 | R2 | R1 | Pivot | S1 | S2 | S3 | S4 |
|---|---|---|---|---|---|---|---|---|---|
| Classic | 58684.95 | 58532.85 | 58380.75 | 58108.05 | 57955.95 | 57683.25 | 57531.15 | 57258.45 | 56985.75 |
| Woodie | 59200.20 | 58472.55 | 58350.60 | 58047.75 | 57925.80 | 57622.95 | 57501.00 | 57198.15 | 56651.40 |
| Camarilla | 58068.99 | 57952.17 | 57913.23 | 57874.29 | 57955.95 | 57796.41 | 57757.47 | 57718.53 | 57601.71 |
Bullish
Bearish
5 Day
48315.63
10 Day
46282.71
20 Day
45134.61
50 Day
43780.35
100 Day
42776.68
200 Day
41473.21
Moving averages sentiment chart. Bullish 12. Bearish 0.
Momentum Oscillators
Bullish
0
Bearish
1
Neutral
6
Bullish
0
Bearish
1
Neutral
6
Stoch RSI
50.00
ROC
-3.55
Ultimate
54.76
Williams
-64.18
CCI
-47.37
Stochastic
30.04
RSI
53.57
Trend Oscillators & Volatility
Bullish
1
Bearish
0
Neutral
0
Bullish
1
Bearish
0
Neutral
0
ATR
405.50
Low Volatility
MACD
551.07
Bullish
Nifty Stock List
Check all stocks
| Stock Name | CMP | Change (%) | Market Cap (Cr.) | Sector | Piotroski Score |
HDFCBANK | 754.3 | -0.939 | 1173024.56 | Banks | 3 / 9 |
HDFCBANK | 604.5 | 1.0616 | 1173024.56 | Banks | 3 / 9 |
ICICIBANK | 1447.6 | -1.0594 | 1049620.38 | Banks | 8 / 9 |
SBIN | 1024.3 | -1.9245 | 963907.3 | Banks | 5 / 9 |
AXISBANK | 1236.5 | -1.7247 | 391312.939 | Banks | 6 / 9 |
Market Commentary
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Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.
Analyst Certification: I/We, Ayushi Jain Research Analyst, authors, and the name subscribed to this report, hereby certify that all the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. NISM Research Analyst registration number – NISM-201900015194.
Banknifty is an index comprising 12 public and private banks with the highest market cap and most liquid from the Banking sector.