Nifty ended on a mildly positive note on 22nd May 2026, closing at 23,719.30, up 64.60 points or 0.27%. The index touched an intraday high of 23,835.65 before witnessing some profit booking in the latter half of the session. Technically, the formation of an inverted hammer-like candlestick pattern indicates cautious optimism with selling pressure near higher levels. RSI improved to 47.19, while India VIX remained stable at 17.82. Immediate support is placed around the 23,550–23,600 zone, while resistance is seen near the 23,950–24,000 range.
Bank Nifty ended on a strong positive note on 22nd May 2026, closing at 54,055.35, up 615.95 points or 1.15%, supported by sustained buying in banking stocks. The index rallied to an intraday high of 54,213.05 before settling firmly in positive territory despite intermittent profit booking. Technically, the formation of a bullish candlestick pattern reflects improving sentiment and strengthening recovery momentum. The RSI improved to 45.87, indicating gradual improvement in momentum. Immediate support is placed around the 53,900–54,000 zone, while resistance is seen near the 55,400–55,500 range.
Foreign Institutional Investors (FIIs) turned aggressive sellers on 22nd May 2026 and offloaded equities worth ₹4,440.50 crore, reflecting cautious sentiment among overseas investors. However, Domestic Institutional Investors (DIIs) continued to provide strong support to the market and remained net buyers with equity purchases worth ₹6,003.50 crore, helping cushion the broader market weakness.
The near-term market outlook remains positive, supported by strong global cues, improving risk appetite, and continued domestic institutional support. The sharp rise in Gift Nifty indicates strong opening momentum, though resistance near higher levels may trigger intermittent profit booking. Sustained strength in banking and heavyweight stocks will remain crucial for extending the ongoing recovery trend,” says Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.
