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Below the Pre-Market Commentary on Nifty & Bank Nifty for 22nd September 2026 by Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking

Pre- Market Commentary

Nifty

CMP: 23,414.30

Index on the daily chart formed a bullish candle with a higher high and a higher low signaling continuation of the pullback for the fourth session in a row. Index in the last 4 session has been consolidating within last Tuesday sizable bearish candle price range highlighting consolidation after recent sharp decline.

Nifty in the last four sessions has rebounded from the extreme oversold territory and in the coming sessions it is likely to consolidate and trade in the broad range of 23,115-23,650.

On the higher side 23,600-23,650 will act as major resistance being the last week high and the recent breakdown area. Index needs to sustain a higher high and higher low formation and reclaim 23,650 to signal a pause in the ongoing downtrend.

On the downside, a breach below the previous week’s low of 23,115 will resume the corrective phase towards the 23,000 and 22,800 levels.

Intraday Levels for Nifty

Resistance: 23,520 and 23,600
Support: 23,340 and 23,250

Bank Nifty

CMP: 56,470.65

Bank Nifty formed a bullish candle with a higher high and a higher low signaling continuation of the pullback for the second session in a row. Index in the last 4 session has been consolidating within last Tuesday sizable bearish candle price range highlighting consolidation after recent sharp decline.

Bank Nifty is sustaining above the 56,000 level, which coincides with the lower band of the last 12-week trading range of 56,000–58,700. Despite the stabilisation, the broader structure remains cautious as the index continues to trade below key resistance level of 57,000 and has yet to establish a sustained Higher High–Higher Low formation on weekly chart.

Bank Nifty is likely to extend its recent consolidation and trade in the broad range of 55,700-57,000. A sustained close above 57,000, accompanied by a Higher High–Higher Low formation on the daily chart, would indicate a potential pause in the prevailing downtrend.

Immediate support is placed at 56,000-55,700 levels being the almost identical low of the last 2 weeks lows. A decisive breach below this level could extend the corrective move towards 55,200, followed by 54,800. 

Intraday Levels for Bank Nifty

Resistance: 56,780 and 57,000
Support: 56,270 and 56,050

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