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 remain in a broader weak technical structure, with the recent recovery yet to receive confirmation in the absence of sustained follow-through buying. On the upside, a sustained move above 54,400 could strengthen the recovery momentum and potentially push the index towards the key resistance zone of 54,800–55,000.
On the downside, 54,000–53,800 remains an important support region. A decisive break below this zone could extend the weakness towards 53,500 and lower levels. Momentum indicators continue to remain firmly bearish, with the MACD maintaining a downward slope, indicating persistent selling pressure. Overall, the near-term technical outlook for Bank Nifty remains bearish.
Short term Research Report Call
Buy Above: 54600 | Targets: 54700, 54800, 54900 | Stop-loss: 54500
Sell Below: 54400 | Targets: 54300, 54200, 54100 | Stop-loss: 54500
Short term Chart
Long term - Technical Outlook
Bank Nifty continues to trade cautiously facing resistance at higher levels and continues to trade in a weak technical structure. A sustained move above 55,800 could provide some stability and trigger a recovery toward 56,700–56,800. However, failure to reclaim this zone is likely to keep selling pressure intact. On the downside, 54,400–54,300 remains the crucial support zone. A decisive break below 54,000 could accelerate the decline toward 53,800–53,700. Overall, the short- and medium-term technical outlook remains bearish, with the index vulnerable to selling pressure at higher levels.
Long term Research Report Call
Buy Above: 54600 | Targets: 54700, 54800, 54900 | Stop-loss: 54500
Sell Below: 54400 | Targets: 54300, 54200, 54100 | Stop-loss: 54500
Long term Chart
September 30th 2026
Indian equities opened on a relatively steady note, offering some respite after the recent stretch of weakness, as a moderation in crude oil prices provided an early lift to sentiment. The gains, however, remain measured, with investors still cautious amid persistent geopolitical uncertainty and the risk of further disruptions to global energy supplies.
WTI crude is holding around $89–$90 a barrel, providing some marginal relief on India’s import bill and inflation pressures. The rupee has also stabilized around 95.90 per dollar, with the recent moderation in oil prices providing some support to the currency and giving the RBI greater room to manage near-term volatility. For now, the opening trend points to some stabilization in domestic equities, although the market remains sensitive to movements in crude oil and developments on the geopolitical front.
Technical View
Nifty 50
Nifty 50 opened marginally lower near 22,665 and continues to trade under pressure, with selling interest emerging at higher levels. On the upside, the 22,750–22,800 zone is likely to act as the immediate resistance area. A sustained move above this band could lend some stability to the index and support a recovery attempt toward the 23,000 mark.
On the downside, the 22,600–22,500 zone remains the crucial support area to watch. Momentum indicators remain subdued, with the RSI in the mid-20s and firmly in oversold territory, reflecting the intensity of the recent selling pressure. While the oversold setup leaves room for an intermittent relief bounce, the broader structure remains weak. The near-term technical outlook therefore remains cautious to bearish.
Bank Nifty
Bank Nifty opened below its previous close near 54,176, although early trade saw an attempt at recovery, with the index recovering the previous day’s gap-down. A sustained move above 54,500 could strengthen the recovery and open the way toward the key resistance zone of 54,800–55,000, marking an improvement in the near-term structure.
On the downside, 54,000 remains the crucial immediate support level. The RSI has improved modestly to around 33, suggesting some easing in downside momentum, although the broader setup remains cautious until the index reclaims higher resistance levels with conviction.
Market support level is 54,000. Market resistance level is 54,800.
Resistance 54,800
Support 54,000
FII & DII Activities
Particular
FIIs
DIIs
Net Purchase/ Sales (Cr)
29 Sep 2026
-9,980.22
+6,952.71
MTD-May (Cr)
September
-33,864.41
+64,758.56
Global Market
September 30th 2026
NASDAQ
USA
26,797.54
30th September
Dow Jones
USA
51,349.92
30th September
FTSE
UK
10,660.85
30th September
DAX
GERMAN
25,346.81
30th September
GIFT Nifty
Singapore
22,659.5
30th September
NIKKEI 225
Japan
66,753.72
30th September
Shanghai
China
3,842.2
30th September
S&P 500
USA
7,670.84
30th September
September 30th 2026
Top Gainers
ESTER
100.66
JHS
12.45
CENTEXT-RE
3.7
ALICON
869.8
Top Losers
VEDL
259
POWERINDIA
30,630
BRITANNIA
4,830
CANBK
119.44
Technicals
Check live levels for all scripts
Buy Above
54249.45
R1
54385.76
R2
54528.27
R3
54782.31
Stop Loss
54088.36
Pivot
54150.32
(All values are in INR)
Sell Below
54051.18
S1
53914.87
S2
53772.36
S3
53518.32
Stop Loss
54212.28
Classic
Woodie
Camarilla
| Method | R4 | R3 | R2 | R1 | Pivot | S1 | S2 | S3 | S4 |
|---|---|---|---|---|---|---|---|---|---|
| Classic | 55499.15 | 55134.53 | 54769.92 | 54514.93 | 54150.32 | 53895.33 | 53530.72 | 53275.73 | 53020.75 |
| Woodie | 56036.53 | 55189.35 | 54797.32 | 54569.75 | 54177.72 | 53950.15 | 53558.12 | 53330.55 | 52318.92 |
| Camarilla | 54600.73 | 54430.34 | 54373.54 | 54316.75 | 54150.32 | 54203.15 | 54146.36 | 54089.56 | 53919.17 |
Bullish
Bearish
5 Day
47455.02
10 Day
45813.28
20 Day
44888.72
50 Day
43679.10
100 Day
42725.56
200 Day
41447.52
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 | 708.7 | -1.9372 | 1110139 | Banks | 3 / 9 |
HDFCBANK | 604.5 | 1.0616 | 1110139 | Banks | 3 / 9 |
ICICIBANK | 1321.7 | 2.2829 | 927944.6 | Banks | 8 / 9 |
SBIN | 959.5 | -0.539 | 890293 | Banks | 5 / 9 |
KOTAKBANK | 417 | 2.7094 | 403883.976 | 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.