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Below the Pre-Market Commentary on Nifty & Bank Nifty for 24th September 2026 by Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking

Pre- Market Commentary

 Nifty

CMP: 23,446.80

Index on the daily chart formed a bullish candle which remained enclosed inside previous session price range signaling consolidation amid stock specific action as Nifty is seen rebounding from the extreme oversold territory.

Nifty is likely to extend its recent consolidation and trade in the broad range of 23,115-23,650 in the coming sessions

On the higher side 23,600-23,650 will act as major resistance being the last week high and the recent breakdown area. The 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 Tuesday low of 23,285 will open downside towards last week low of 23,116 levels.

Intraday Levels for Nifty

Resistance: 23,490 and 23,560
Support: 23,280 and 23,200

Bank Nifty

CMP: 56,548.90

Bank Nifty formed a bullish candle which remained enclosed inside previous session price range signaling consolidation amid stock specific action. Index in the last 6 sessions has been consolidating within last Tuesday sizable bearish candle 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: 56,700 and 56,930
Support: 56,100 and 55,900

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