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Published on 28-09-2026 10:25 am

Energy Outlook

• Crude oil prices are expected to trade higher amid ongoing uncertainty surrounding US-Iran negotiations. NYMEX crude oil is hovering near $93 per barrel after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, raising concerns that the restoration of oil flows through the critical waterway could face further delays. This week will be critical for oil prices, as Iran stated it is waiting for a response from the US regarding its seven-day proposal to reopen the strait. Furthermore, tensions remain high in Saudi Arabia amid ongoing drone attacks by the Houthis

• NYMEX crude oil in November future is expected to move higher towards $97 mark. MCX Crude oil October is expected to hold above Rs8500 and rise towards Rs 9200 level.

• Natural gas prices are expected to move lower towards Rs295 level as long as it stays below Rs325. A quick repair of the Appalachia pipeline leak in West Virginia is expected to ease supply fears and lower natural gas prices.

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Published on 28-09-2026 10:20 am

Nifty

Decent recovery following Thursday’s sharp sell-off, along with a positive divergence on the daily RSI, could represent the last window for a potential revival. A sustained hold above 23000 could allow further consolidation or a technical pullback, while a decisive close below this level would invalidate the stabilisation setup and expose Nifty towards 22880 initially. On the upside, 23240–23300 remains the immediate pullback resistance zone, while a sustained reclaim of 23520 would strengthen hopes of a meaningful rebound. However, the broader trend remains under pressure until Nifty decisively reclaims 24050. Traders should avoid aggressive directional exposure and continue to favour stock-specific opportunities with disciplined risk management, while closely monitoring 23000 for signs of exhaustion or a fresh breakdown.

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Published on 28-09-2026 10:06 am

1-2 Day BANKNIFTY FUT SL Triggered @ 55300

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Published on 28-09-2026 10:04 am

BANKNIFTY

* The banking index staged a modest recovery after the previous session’s sharp decline, but continues to trade below its short-term EMAs, maintaining a cautious structure.

* The index opened firmly and sustained a positive bias throughout the session.

* Sectoral momentum remained mixed, with Axis Bank and AU Bank demonstrating strength, while Federal Bank and ICICI Bank witnessed profit booking.

* Immediate resistance remains near 56,200, while crucial support is placed around 54,400.

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Published on 28-09-2026 10:03 am

NIFTY

* Nifty witnessed a volatile session on Friday and ended with modest gains, recovering partially from the sharp sell-off seen in the previous session.

* From a technical perspective, the Nifty managed to hold above the 23,000 psychological support and recovered from the session’s lower levels; however, the broader structure remains weak following Thursday’s decisive breakdown.

* The 23,300–23,350 zone is likely to act as the immediate hurdle, followed by the broader resistance around 23,600, while 23,000 remains the key near-term support.

 *With the trend still weak and global macro risks elevated, volatility is likely to remain high, and stock-specific opportunities may continue to emerge selectively.

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