Post Market Analysis dated 20.07.2026

Nifty’s Day CPR is narrow at 0.10% (BC 24,200.97 / TC 24,225.99), which historically signals a high-probability trend day — but critically, today’s close of 24,238.50 sits just 12.51 points above TC (24,225.99), meaning the market is barely holding the bullish side of the CPR band after a gap-down session. The gap-down open of -144.2 points (-0.59%) versus Friday’s close created an immediate test of the CPR, and the fact that Nifty closed inside the prior day’s range (PDH 24,266.10 / PDL 24,135.85) without breaking either level confirms today as a range-bound, no-breakout session — the gap-down fill and recover pattern was partial, with price recovering from the low but not breaching PDH. The key Camarilla levels framing tomorrow are R3 at 24,274.32 and R4 at 24,310.14 on the upside, and S3 at 24,202.68 and S4 at 24,166.86 on the downside — note that S3 at 24,202.68 virtually coincides with BC at 24,200.97, creating a critical confluence support zone. Tomorrow’s open above TC at 24,225.99 is the minimum requirement for a bullish trend day thesis; a breach of S3/BC at 24,202 on volume would immediately invalidate intraday bullish setups and expose the Traditional S1 at 24,160.86 and S4 at 24,166.86 as the next support cluster.

Nifty’s Weekly CPR is 0.41% wide (W-BC 24,183.75 / W-TC 24,284.11), classifying this as a medium-width weekly CPR — this is not the ultra-narrow (<0.05%) trend-week signal but is still tight enough to remain directionally meaningful for the current week. The weekly structure is sideways or range-bound, and Nifty’s current close of 24,238.50 sits inside the weekly CPR band (between W-BC 24,183.75 and W-TC 24,284.11), which is the weakest possible position — price trapped in the weekly battleground zone, with no clear conviction from either bulls or bears at the weekly level. For swing traders, the critical test is whether Nifty can reclaim W-TC at 24,284.11 on a closing basis — a confirmed close above that level targets Weekly R1 at 24,467.66 and ultimately Weekly R2 at 24,601.03. A weekly close below W-BC at 24,183.75 flips the weekly bias bearish and exposes Weekly S1 at 24,100.56 — a level that, if broken, brings the psychologically important 24,000 zone into play. The weekly and daily biases are aligned in their ambiguity: both show Nifty trapped inside CPR bands without a directional breakout.

Nifty’s Monthly CPR is 0.56% wide (M-BC 23,665.88 / M-TC 23,799.12), indicating a range-bound monthly structure with no strong positional trend bias from the monthly pivot alone. Critically, the current close of 24,238.50 sits well above both M-TC (23,799.12) and M-BC (23,665.88), placing Nifty in a structurally bullish monthly position — price is trading above the entire monthly CPR band, which is the foundation for a positional long bias. The Monthly Traditional Pivot at 23,732.50 also sits below current price, further confirming the positional bull case. For positional traders, the key targets are Monthly R1 at 24,394.85 (first meaningful overhead resistance) and Monthly R2 at 24,923.95 as the extended bull target. The positional floor is M-TC at 23,799.12 — a monthly closing break below this level would be a serious structural warning. The FII synthetic short architecture (futures net -219,823, put long dominance) provides the primary risk to the positional bull thesis, but as long as Nifty holds above M-TC, the positional bias remains intact. There is no divergence between Nifty and Sensex at the positional level — both sit above their monthly CPR bands.

BankNifty’s Day CPR is narrow at 0.14% (BC 57,822.05 / TC 57,904.01), which signals a trend-day potential for tomorrow — but the balanced or transitional structure label cautions that direction is not yet committed. BankNifty’s gap-down open of -783.1 points (-1.34%) was significantly more severe than Nifty’s -0.59% gap, confirming BankNifty as the weaker index today — yet it too closed inside the prior session’s range (PDH 58,111 / PDL 57,533.10), making it a gap-down open and partial recovery pattern without a directional resolution. Today’s close of 57,945 sits 40.99 points above TC (57,904.01), a marginally bullish day-end position, but the gap-down severity relative to Nifty highlights BankNifty’s relative weakness. The key Camarilla levels for tomorrow are R3 at 58,103.92 and R4 at 58,262.85 as upside triggers, and S3 at 57,786.08 and S4 at 57,627.15 as downside triggers — a break above R3 at 58,103.92 (which also roughly coincides with the PDH at 58,111) would be the first confirmation of bullish momentum, while a break below S3 at 57,786.08 re-tests the CPR area and opens a path to the Traditional S1 at 57,615.06.

BankNifty’s Weekly CPR is 0.66% wide (W-BC 57,941.88 / W-TC 58,328.22), the widest of the three indices at the weekly timeframe — this classifies as a medium-wide CPR, signaling a range-bound week rather than a strong trending week. BankNifty’s close of 57,945 sits just 3.12 points above W-BC (57,941.88), an extremely precarious position — the index is barely holding the weekly CPR floor, and a single weak session could push it below the weekly band entirely. For swing traders, this is the critical watch-point: a daily close below W-BC at 57,941.88 would flip weekly bias to bearish and expose Weekly S1 at 57,673.25 as the immediate target. To flip weekly bias bullish, BankNifty must reclaim W-TC at 58,328.22 — from current levels, that requires a rally of 383 points, which is feasible but will need a fundamental catalyst. The weekly swing setup for BankNifty is more bearishly exposed than Nifty, where the close at 24,238.50 sits inside the weekly CPR band rather than at its floor — this is a meaningful divergence between the two indices at the weekly timeframe.

BankNifty’s Monthly CPR is 1.98% wide (M-BC 55,866.60 / M-TC 56,984.14), the widest monthly CPR of all three indices and the only one above 1% — this signals a genuinely range-bound monthly structure with no positional directional clarity. The current close of 57,945 sits above M-TC (56,984.14), which is the bullish condition for a positional long — price above the entire monthly CPR band is structurally favorable. Monthly R1 at 59,823.59 is the first positional bull target, while M-TC at 56,984.14 is the critical floor — a monthly close below M-TC would structurally damage the positional bull case. The wide 1.98% monthly CPR means BankNifty is in a broad consolidation phase at the monthly level — unlike Nifty, which has a tighter 0.56% monthly CPR, BankNifty’s monthly range is nearly double, reflecting the higher beta and volatility of the banking index. Positional traders should treat BankNifty longs with caution until monthly R1 at 59,823.59 is meaningfully challenged; the risk-reward for fresh positional longs is less favorable here than in Nifty given the wide monthly CPR and the weak weekly position at W-BC.

Sensex’s Day CPR is ultra-narrow at 0.04% (BC 77,725.63 / TC 77,759.87) — this is the tightest CPR of all three indices today and is historically a very strong trend-day signal, as the price range between BC and TC is a mere 34.24 points. The Trending structure designation reinforces this: tomorrow is set up as a high-probability directional day for Sensex, with the ultra-narrow CPR acting as the fulcrum. Sensex’s flat open (no significant gap) versus Nifty’s -0.59% and BankNifty’s -1.34% gaps is a notable divergence — Sensex showed relative strength at the open, though it too closed inside the prior day’s range (PDH 78,151.45 / PDL 77,368.29). Today’s close of 77,708.52 sits below BC at 77,725.63 by 17.11 points — a marginally bearish intraday close below the CPR band. The key Camarilla levels are R3 at 77,923.89 and R4 at 78,139.26 on the upside, and S3 at 77,493.15 and S4 at 77,277.78 on the downside. Tomorrow’s critical opening test: if Sensex reclaims BC at 77,725.63 at the open, the ultra-narrow CPR trend-day setup triggers a bullish momentum sequence; if it opens and stays below BC, the trend-day setup fires to the downside, targeting S3 at 77,493.15 and S4 at 77,277.78 rapidly. This Sensex-specific divergence (flat open vs. gap-down peers, close just below BC) is worth monitoring as a leading indicator of broader market direction.

Sensex’s Weekly CPR is 0.50% wide (W-BC 77,569.99 / W-TC 77,957.63), a medium-width weekly band signaling a range-bound week rather than a decisive trend week. Sensex’s close of 77,708.52 sits inside the weekly CPR band (between W-BC 77,569.99 and W-TC 77,957.63), the same position as Nifty — both indices are trapped in their weekly CPR battleground zones, confirming alignment between the two at the weekly swing level. For swing traders, reclaiming W-TC at 77,957.63 on a closing basis is the threshold for a bullish weekly setup, targeting Weekly R1 at 78,670.19 and Weekly R2 at 79,188.93. A weekly close below W-BC at 77,569.99 flips weekly bias bearish and exposes Weekly S1 at 77,245.07. The weekly swing picture for Sensex and Nifty is aligned — both inside their weekly CPR bands, both requiring a directional breakout to establish the week’s trend. BankNifty, sitting at the very floor of its weekly CPR (W-BC 57,941.88), is the relatively weaker index at the weekly timeframe.

Sensex’s Monthly CPR is 1.02% wide (M-BC 75,561.06 / M-TC 76,339.26), wider than Nifty’s 0.56% but well below BankNifty’s 1.98% — this classifies as a range-bound monthly structure at the medium-to-wide end. Sensex’s close of 77,708.52 sits above M-TC (76,339.26) by over 1,369 points, the most comfortable margin above monthly CPR of all three indices — this is the most strongly bullish positional read of the three. The Monthly Traditional Pivot at 75,950.16 is also well below current price, providing multiple layers of positional support. Monthly R1 at 78,581.38 is the first positional resistance target — Sensex is currently within 873 points of this level, making it the most actionable positional target. The positional divergence to note is between Sensex (comfortably above M-TC by 1,369 points) and BankNifty (above M-TC but with a wide, uncertain monthly band at 1.98%) — Sensex’s positional setup is cleaner and more bullish than BankNifty’s at the monthly level. FII net futures short and the overall PCR decline are the primary risks to this positional bull setup; as long as M-TC at 76,339.26 holds on a monthly closing basis, positional longs remain structurally valid.