Key Levels For The Bank Nifty (55,810)

Resistance based on pivot points: 56,019, 56,204, and 56,505

Support based on pivot points: 55,418, 55,232, and 54,932

Resistance based on Fibonacci retracement: 57,285, 59,261

Support based on Fibonacci retracement: 55,049, 54,053

Special Formation: The Bank Nifty also formed a bullish candle on the daily chart, featuring a noticeable upper shadow and a small lower shadow. The index continued to maintain its higher high–higher low structure, a positive bias despite some selling pressure at higher levels. The upmove was accompanied by robust trading volumes. The index closed decisively above its short-term moving averages and the midline of the Bollinger Bands. It moved closer to its 50-day EMA but remained below it, as well as its 100-day and 200-day EMAs, indicating that the broader trend remains weak. The RSI rose to 51.59 and registered a bullish crossover. Meanwhile, the MACD remained above its signal line, with the green histog...

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📊 Indian Stock Market – Pre-Market Update | October 16, 2026
🇮🇳 Stock Market Recap

Indian equity benchmarks ended Thursday’s session on a strong note, supported by gains in Private Banking, IT and Auto stocks, amid the weekly expiry of Sensex contracts.
🔹 Sensex: Closed at 74,315.61, up 1,533.72 points (+2.11%).
🔹 Nifty 50: Settled at 22,997.35, up 374.65 points (+1.66%).

🇺🇸 US Market Recap
Wall Street witnessed mixed trading on Thursday. Concerns over elevated AI spending and hotter-than-expected inflation weighed on technology stocks, while gains in non-tech shares supported the Dow Jones.
🔹 Dow Jones: 51,922.89, up 301.41 points (+0.58%).
🔹 S&P 500: 7,682.93, down 36.01 points (-0.47%).
🔹 Nasdaq Composite: 26,376.86, down 316.01 points (-1.18%).

#GIFTNifty higher, indicates a gap-up start for the Indian market; Crude steady, #Brent hovers near $106/bbl amid West Asia supply crisis