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Below the Pre-Market Commentary on Nifty & Bank Nifty for 29th September 2026 by Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking 

Pre- Market Commentary

 Nifty

CMP: 22,780.25

The Nifty formed a sizeable bearish candle, making a lower high and lower low, indicating continuation of the prevailing downtrend. The index opened on a weak note and slipped below last week’s low of 23,020 in the early trade. It extended its decline through the session and closing below the 22,800 marks.

A decisive break below 22,700 could intensify selling pressure and drag the index towards 22,400, where the trendline joining the major lows of the past two years and the 200-week EMA provide important support.   

On the upside, a meaningful trend reversal would require the index to form a sustained Higher High–Higher Low structure and reclaim the 23,000-23,100 level. A sustained move above 23,100 could signal a pause in the ongoing correction and pave the way for an upside move towards the next major resistance zone around 23,400.

Intraday Levels for Nifty

Resistance: 22,870 and 23,000
Support: : 22,640 and 22,500

Bank Nifty

CMP: 54,471.65

The index has formed a sizeable bearish candle with a lower high and a lower low, indicating continuation of the prevailing downtrend. The index opened on a weak note and slipped below last week’s low of 55,341 in the early trade. It slipped below 55,000 levels in the mid-session and closed below the 54,500 mark.

A follow through weakness could extend the dexline and drag the index towards 53,700-53,500 being the confluence of the previous major lows and measuring implication of the recent range breakdown (58,500-56,000) signaling downside towards 53,500 levels.

On the upside, a meaningful trend reversal would require the index to form a sustained Higher High–Higher Low structure and reclaim the 55,000 level. A sustained move above 55,000 could signal a pause in the ongoing correction and pave the way for an upside move towards the next major resistance zone around 55,700

Intraday Levels for Bank Nifty

Resistance: 54,750 and 55,000
Support: 54,100 and 53,650

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