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Below the Quote on Post market comment for Thursday May 14 by Sachin Gupta, VP- Research at Choice Broking

Indian equity benchmark Nifty index witnessed a Positive close on 14^th May 2026. The index opened with a strong gap-up of 117.65 points at 23,530.25, reflecting positive sentiment at the start of the session. However, the index witnessed some selling pressure in the initial few minutes, registering its intraday low of 23,426.55. Thereafter, strong buying interest emerged, helping the index recover sharply and climb steadily towards its intraday high of 23,777.20. The index eventually settled at 23,689.60, gaining 277 points or 1.18% for the session. On the daily timeframe, Nifty formed a Morning Doji Star candlestick pattern, which is generally considered a bullish reversal formation. This indicates that buying interest has emerged from lower levels and suggests a possibility of further recovery if the index sustains above crucial resistance levels.

From a technical perspective, immediate support is placed in the 23,450–23,500 zone, while resistance is seen in the 23,900–23,950 range. The Relative Strength Index (RSI) stands at 45.86, indicating improving momentum though it still remains below the stronger bullish zone. The volatility index, India VIX, declined by 4.18% to 18.61, indicating easing volatility and improving market confidence. In the derivatives segment, notable call writing was observed at the 23,800 and 23,700 strikes, while put writing was concentrated at the 23,500 and 23,600 strikes, indicating a broader recovery sentiment with support shifting higher.

Sectorally, buying interest was visible across several sectors including Pharma, Healthcare, Metal, Financial Services, PSU Banks, and Private Banks, while selective weakness persisted in the IT space. Market breadth improved considerably with advancing stocks outnumbering declining stocks, indicating broader market participation in the recovery.

The Bank Nifty index opened with a gap-up of 183.35 points at 53,639.50, indicating positive sentiment in the banking space. After opening, the index witnessed mild selling pressure in the early part of the session and registered its intraday low of 53,191.60. However, strong buying interest emerged thereafter, especially during the latter half of the session, pushing the index sharply higher towards its intraday high of 54,393.75. The index eventually settled at 54,128.95, gaining 672.80 points or 1.26%. On the daily timeframe, Bank Nifty formed a Morning Doji Star candlestick pattern, indicating a potential bullish reversal from lower levels. The formation suggests that buyers are attempting to regain control after the recent corrective phase.

From a technical perspective, immediate support is placed in the 53,400–53,500 zone, while resistance is observed in the 54,700–54,800 range. The Relative Strength Index (RSI) stands at 43.79, indicating recovery in momentum though the index still trades below the stronger bullish threshold.

Indian equity markets witnessed a strong recovery session after recent weakness, supported by broad-based buying across key sectors. Both Nifty and Bank Nifty formed bullish reversal candlestick formations on the daily timeframe, indicating improving sentiment at lower levels. The decline in India VIX along with improved market breadth further supported the positive undertone in the market. Going forward, sustained movement above immediate resistance levels will be crucial for confirming further upside momentum

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