Market Prediction Today (24th August 2026)

Nifty Prediction Today

Today, Nifty 50 prediction suggests a Sideways to Bullish range between 24000 and 24400, with strong support at 24000-24050 and resistance at 24350-24400 Traders should monitor these crucial levels closely for potential market shifts.

Nifty Support and Resistance Level Today

• Nifty Support: 24000-24050
• Nifty Resistance: 24350-24400
• BIAS: Sideways

Indian indices witnessed a positive start, with Nifty opening gap-up and initially moving sideways during the first half of the session. The index later advanced to an intraday high of 24,265.15, before witnessing some consolidation and finally closing at 24,231.85, up 153.55 points (+0.64%). On the daily chart, Nifty formed a Doji-like candlestick, indicating indecision after the recent weakness and suggesting that the index is yet to establish a clear directional trend. Sector-wise, Realty, Media, FMCG and Auto remained positive, while PSU Bank traded largely sideways. With India VIX declining to 10.75 and PCR improving to 1.10, market sentiment has turned relatively more balanced. Immediate support is placed at 24,000–24,050, while resistance is seen at 24,270–24,350.

From a technical perspective, RSI stands at 48.33 against its RSI average of 55.27, indicating that momentum has improved from lower levels but remains below the neutral midpoint. The 50% Fibonacci retracement level at 24,190 is now an important reference point, with Nifty sustaining above this level supporting the recovery attempt. The 24,000 psychological mark remains the major break level on the downside. Immediate support is placed at 24,180, followed by 24,050 and 24,000. On the upside, 24,270 is the immediate hurdle, followed by 24,300, which coincides with the 50-Day EMA, and then 24,500. From the derivatives perspective, Put OI concentration around 24,200–24,000 indicates support at lower levels, while Call OI concentration around 24,300–24,500 suggests supply in the higher zone. With PCR at 1.10, the derivatives setup has improved, but a sustained move above 24,300 would be important for stronger bullish confirmation

Bank Nifty Prediction Today

Today, Bank Nifty prediction suggests a Sideways to Bullish range between 57250 and 58000 with strong support at 57250-57430 and resistance at 57880-58000 Traders should monitor these crucial levels closely for potential market shifts.

Bank Nifty Support And Resistance Today

• Bank Nifty Support: 57250-57430
• Bank Nifty Resistance: 57880-58000
• BIAS: Sideways

Bank Nifty opened with a strong gap-up of around 267 points at 57,507, followed by initial buying momentum that lifted the index to an intraday high of 57,702.65. However, the index subsequently witnessed sideways movement followed by selling pressure, eventually breaking its opening range and slipping to an intraday low of 57,431.80. It recovered marginally towards the close and settled at 57,495.90, up 256.15 points (+0.45%). The price action reflects profit-taking at higher levels despite the positive opening, keeping the near-term structure in a consolidation phase. Immediate support is placed at 57,000–57,200, while resistance is seen at 57,700–57,880. A sustained breakout above the resistance zone would be required to strengthen the upward momentum.

The overall market bias has improved to sideways to mildly positive, supported by Nifty reclaiming the 50% Fibonacci retracement level, improved PCR and lower volatility. However, the Doji-like daily formation and RSI remaining below 50 indicate that bullish momentum is yet to gain strong confirmation. Bank Nifty also remains range-bound despite a positive close. Hence, the market is likely to remain consolidative with a positive undertone, favouring a selective sector and stock-specific approach until Nifty decisively sustains above the immediate resistance zone.

Sensex Prediction Today

Today, Sensex prediction suggests a Sideways to Bullish range between 77000 and 78000, with strong support at 77000-77380 and resistance at 77720-78000 Traders should monitor these crucial levels closely for potential market shifts.

Sensex Support And Resistance Today

• Sensex Support: 77000-77380
• Sensex Resistance: 77720-78000
• BIAS: Sideways

Sensex closed at 77,540.83, up by a mild 3.11 points (+0.00%). Sensex remained largely range-bound during the session despite opening on a strong note. The index witnessed a sharp gap-up opening of around 163 points at 77,701.01 and touched an intraday high of 77,725.67. However, the initial momentum failed to sustain, with the index slipping to an intraday low of 77,445.86 before consolidating within a narrow range for the remainder of the session. Sensex eventually settled at 77,540.83, ending the day with marginal gains of 3.11 points.

From a technical perspective, the index continues to trade around its 50-Day EMA but remains below the crucial 200-Day EMA, keeping the broader trend cautious. RSI at 49.00 indicates subdued momentum, with no clear directional strength at present. Immediate support is placed at 77,000–77,380, while 77,720–78,000 remains the key resistance zone.

Sector-wise, buying interest was witnessed across Financial Services, Private Banks, Bankex, Consumer Durables, Insurance, Telecommunications and Metals, while FMCG, Auto, Information Technology and Healthcare remained under pressure. The mixed sectoral performance kept the benchmark index largely confined to a range.

On the global front, ongoing US-Iran geopolitical tensions and elevated crude oil prices continue to remain key risk factors for global markets, including Indian equities, and could keep volatility elevated.

The overall bias remains Sideways to Cautious, as Sensex continues to consolidate near the 50-Day EMA while facing resistance around the 200-Day EMA. A sustained move above the 77,720–78,000 zone would improve the short-term outlook, while continued holding above the 77,000–77,380 support zone would keep the consolidation structure intact

Indian VIX Prediction For Today

India VIX eased to 11.3225, indicating that volatility remains relatively contained despite the weakness in the index. The combination of subdued VIX and a lower PCR suggests a cautious market environment rather than aggressive volatility. Overall, Nifty is likely to maintain a cautious, range-bound tone, with the 24,000 zone acting as the key base and higher levels facing resistance until a sustained recovery is seen.

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