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Published on 13-07-2026 11:23 am

BUY BANK NIFTY 57800 PUT JULY ABOVE 656.75 SL BELOW 560 TGT 690-755-810. 28 JULY

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Published on 13-07-2026 10:29 am

Technical Outlook :

• Index opened on positive note and thereafter faced profit booking around 58600 levels and rebounded from support after mid week panic sell-off. Consequently, the weekly price action resulted into long legged “doji” like candle indicating indecision at current levels.

• Index is likely to open gap-down on back of geopolitical development and rise in brent crude prices. Amid geopolitical uncertainty, Index managed to hold 200 days EMA placed around 56200 that reaffirms strength. Going ahead, we expect, index to regain upward momentum and head towards swing high of 58700 in coming weeks. Key point to highlight is that on daily charts Index has generated golden crossover where 50-day EMA has crossed above 200-day EMA which is a positive development.

• Index is undergoing healthy consolidation Since June low after 11% rally, weekly stochastic oscillator is cooling off that would help Index form a strong base and set the stage for next leg of up move. On larger degree time frame Index has maintained higher high higher. Immediate resistance is placed at 58700. A decisive close above that level would confirm extension of rally towards 60000.

• Immediate support is placed around 56200 levels being 200-day EMA and 61.8% retracement of recent up move.

• PSU Bank Index on weekly has formed hammer like candle indicating buying demand from 52-week EMA. Therefore, holding above April & May identical lows will keep pullback options open and set the stage for next keg of upmove. Intraday Rational :

• Trend - Sustenance above cluster of short-term averages, indicating inherent strength.

• Levels : Buy around 80% of 3 days range. .

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Published on 13-07-2026 10:28 am

Nifty Bank : 58046

Technical Outlook

Week that was : Bank Nifty Index ended the volatile week on marginally positive note up 0.2% at 58046 levels. Nifty PSU Bank relatively outperformed gaining 0.6%.

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Published on 13-07-2026 10:28 am

Intraday Rational :

• Trend – Post Gap down opening holding 50 days EMA (23900) would keep pullback options open

• Levels – Buy around 80% of 3 days range

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Published on 13-07-2026 10:28 am

Technical Outlook :

• Nifty 50 Index began the week on a positive note, but faced sharp earlyweek volatility amid revived geopolitical tensions. Consequently, Nifty retreated from the 200-day EMA and the April high of 24,600. However, sentiment improved in the final two sessions as continued diplomatic talks eased fears, allowing Nifty 50 Index to trim weekly losses. The weekly price action resulted into high-wave candle with wicks on both ends, indicating heightened volatile week.

• Index is likely to witness gap-down opening on the back of geopolitical development and rise in brent crude prices. Despite rising geopolitical tensions, the Nifty demonstrated resilience by holding its 50-day EMA near 23,800 which reaffirms underlying strength. Going ahead, the index is expected to regain upward momentum and target the previous swing high of 24,600 in the coming weeks.

• Bank Nifty which carries 33% weightage in Nifty has formed a higher base formation above its long term 200 days EMA and witnessed a golden cross (50 days EMA crossover its 200 days EMA), indicating structural improvement which can help to lead the rally and assist Nifty to surpass key hurdle of 24600

• Structurally, Nifty has been oscillating in 1500 points range (24600- 23100) over past three months. A decisive close above 24600 would validate a solid higher base formation and unlock the next leg of mediumterm rally.

• We expect volatility to remain elevated as we enter the Q1FY27 earning season. Hence, focus should be on accumulating stocks on dips backed by strong earnings as key support is placed around 23600 levels

• The US Small cap Index (Russell 2000) has been trading in the vicinity of All Time High after breaking out of 4 years consolidation. Mirroring the buoyancy in the global broader markets, Nifty midcap index reclaimed its All-Time High levels after 6 weeks hiatus. While small cap is just 1.5% away from All Time High.

• The current up move in the broader market is supported by significant improvement in the market breath. As the reading of % of stocks above 200 days SMA (Nifty 500 Universe) improved to 53% from six weeks back reading of 43% that augurs well for continuation of outperformance going ahead Key Monitorable : a) Inflation print for India and US b) Any positive development on geopolitical front and resultant cool off in crude oil prices c) Q1FY27 earnings

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