Bank Nifty prediction today

Market View

BANK NIFTY

NSE

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Short term - Technical Outlook

Bank Nifty is trading with a slight cautious bias, consolidating within the 57,000–57,500 range following its recent recovery. The index continues to exhibit relative strength; however, supply pressure near the 57,450–57,500 resistance band is limiting follow-through buying. A sustained breakout above 57,500 will be required to trigger further upside towards the 58,000 level.
 
On the downside, a decisive break below 57,000 could accelerate the decline towards the 56,700–56,600 zone, with further weakness potentially extending to the 56,200–56,000 range. Holding above these support levels will be crucial to preserve the current recovery structure.

 

Short term Research Report Call
Buy Above: 57500 | Targets: 57600, 57700, 57800 | Stop-loss: 57400
Sell Below: 57000 | Targets: 56900, 56800, 56700 | Stop-loss: 57100
 

Short term Chart

Long term - Technical Outlook

Bank Nifty took support from the lower levels. Holding above 57,000 could provide additional support to Bank Nifty. Technically, staying above 57,500 will help maintain a positive sentiment for the Indian market. However, a break below 56,000 could turn unfavorable for Bank Nifty and trigger weakness.


Long term Research Report Call
Buy Above: 57500 | Targets: 57600, 57700, 57800 | Stop-loss: 57400
Sell Below: 57000 | Targets: 56900, 56800, 56700 | Stop-loss: 57100
 
Long term Chart

Market View

April 23rd 2026

Indian equity markets have opened on a negative note, extending recent weakness, as rising geopolitical tensions continue to weigh on investor sentiment. The gap-down start reflects persistent risk aversion, with selling pressure visible across broader markets in early trade.
 
The sharp rise in crude oil prices above $103 per barrel remains the key concern, intensifying fears around inflation, India’s import bill, and overall macroeconomic balance, thereby triggering broad-based selling. Global sentiment continues to stay subdued with Asian markets trading lower, offering limited support to domestic equities. The Indian rupee is also facing renewed pressure, reflecting the impact of higher crude prices and persistent foreign outflows, which is adding to overall market volatility. The near-term sentiment remains cautious to negative and highly news-driven, with volatility expected to stay elevated and downside risks prevailing unless geopolitical tensions ease.

 

Nifty 50

Nifty 50 opened with a gap-down around the 24,211 mark, indicating mild weakness at the start of the session. The 24,100–24,000 zone remains a key psychological and demand area, and a breach below this support could lead to further short-term weakness, particularly amid volatile global cues. To regain its prior momentum, the index needs to reclaim higher levels, with 24,400 now acting as an immediate resistance zone. A sustained move above this level will be crucial to restore upward momentum. Momentum indicators remain neutral, with the RSI hovering near the 55 level.  The opening outlook remains cautious to mildly weak, with a range-bound to downside bias unless a decisive breakout above key resistance levels is seen.


  
Bank Nifty

Bank Nifty opened with a gap-down around the 56,632 mark and witnessed initial buying interest near the 56,400–56,500 zone, indicating support at lower levels despite mild profit booking. From a technical standpoint, reclaiming the 57,000 level remains crucial to sustain the ongoing recovery phase. On the downside, the 56,200–56,000 zone serves as an important support, and a breakdown below this range could extend the decline towards the 55,500 level. Early market outlook remains cautious and slightly negative, unless a clear breakout above key resistance levels is seen.

Resistance 57,000

Market View

Support 56,400

FII & DII Activities

Particular

FIIs

DIIs

Net Purchase/ Sales (Cr)

22 Apr 2026

-2,078.36

-1,048.17

MTD-May (Cr)

April

-44,281.38

+33,836.61

Global Market

April 23rd 2026

NASDAQ

USA

24,657.57

397.6   1.64

23rd April

Dow Jones

USA

49,490.03

340.65   0.69

23rd April

FTSE

UK

10,420.25

-56.21   -0.54

23rd April

DAX

GERMAN

24,132.39

-62.51   -0.26

23rd April

GIFT Nifty

Singapore

24,193.5

-115   0.47

23rd April

NIKKEI 225

Japan

59,140.23

-445.63   -0.75

23rd April

Shanghai

China

4,093.25

-13.01   -0.32

23rd April

S&P 500

USA

7,137.9

73.89   1.05

23rd April

Market at Closing

April 23rd 2026

Top Gainers

MASKINVEST

161.37

26.89  20

ZODIAC

355.83

59.3  20

HALDYNGL

103.5

17.25  20

DIGJAMLMTD

56.4

9.06  19.14

Top Losers

TATASTEEL

211

-2.03  -0.95

FEDERALBNK

294.4

-2.05  -0.69

IDFCFIRSTB

67.81

-0.57  -0.83

AXISBANK

1,373.6

-6  -0.43

Technicals

Buy Above

57258.03

R1

57353.97

R2

57454.26

R3

57633.04

Stop Loss

57144.66

Pivot

57188.27

(All values are in INR)

Sell Below

57118.50

S1

57022.57

S2

56922.28

S3

56743.50

Stop Loss

57231.87

Pivot Basic Levels

R4R3R2R1PivotS1S2S3S4
Classic

57996.55

57810.43

57624.32

57374.38

57188.27

56938.33

56752.22

56502.28

56252.35

Woodie

58480.46

57778.52

57608.36

57342.47

57172.31

56906.43

56736.26

56470.38

55864.16

Camarilla

57364.28

57244.36

57204.39

57164.42

57188.27

57084.48

57044.51

57004.54

56884.62

Moving Averages

Bullish

Bearish

5 Day

48014.13

10 Day

46118.25

20 Day

45048.47

50 Day

43744.88

100 Day

42758.77

200 Day

41464.21

Momentum Oscillators

Bullish

2

Bearish

2

Neutral

3

Stoch RSI

0.00

ROC

7.04

Ultimate

55.71

Williams

-15.28

CCI

70.47

Stochastic

93.06

RSI

41.77

Trend Oscillators & Volatility

Bullish

1

Bearish

0

Neutral

0

ATR

406.29

Low Volatility

MACD

694.89

Bullish

Nifty Stock List

Stock NameCMPChange (%)Market Cap (Cr.)SectorPiotroski Score

HDFCBANK

784.1

-1.9752

1231315.53

Banks

3 / 9

HDFCBANK

604.5

1.0616

1231315.53

Banks

3 / 9

SBIN

1087.85

-1.4003

1018506.3

Banks

5 / 9

ICICIBANK

1349.6

-1.3162

980081.8

Banks

8 / 9

AXISBANK

1375

-0.3334

428842.2

Banks

6 / 9

Market Commentary

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.

Frequently asked questions

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.

How to trade on Banknifty?

How are stocks selected in Banknifty?

When do banknifty Future and options expire?

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