Indian Market Outlook: Key Support and Resistance Levels for Nifty, Sensex
Indian stock market outlook: Nifty 50, Sensex and Bank Nifty predictions with critical levels for August 14 trade.
Stock Market Forecast: Will Sensex, Nifty Extend Gains or Face Resistance?
Muted Start Expected for Indian Markets Ahead of F&O Expiry
Indian benchmark indices — Sensex (▲0.38%) and Nifty 50 (▲0.54%) — are likely to open flat to cautious on Thursday, tracking mixed global cues. Trends from the Gift Nifty (24,694; ▼18 pts) suggest a subdued opening ahead of the weekly F&O expiry on August 14.
On Wednesday, equities closed higher:
♦ Sensex: ▲304.32 pts to 80,539.91
♦ Nifty 50: ▲131.95 pts to 24,619.35
Sensex Outlook (📊)
♦ The Sensex briefly touched 80,700, but failed to sustain.
♦ Key support: 80,300 → 80,000 → 79,800 (Kotak Securities)
♦ Major resistance: 80,800 → 81,000 → 81,500–81,700 (Share.Market)
♦ Closing above the 10-day EMA signals a possible pull towards the 20-day SMA at 81,200.
Nifty 50 Outlook (🔍)
♦ Open Interest Data: Highest Call OI at 24,700; Highest Put OI at 24,600 — indicating resistance near 24,700 and support near 24,600.
♦ Technical signals:
♠ Formed a bullish inside bar candlestick (HDFC Securities).
♠ Sustained trade above 24,700 → upside to 25,000 possible.
♠ Immediate support: 24,465 → 24,340 (last week’s low).
♠ Pullback rally targets: 24,840 (34-DEMA hurdle) if above 24,590 (100-DEMA).
♦ Trader strategy: Follow buy-at-support approach (Stock Market Today).
♦ Intraday levels:
♠ Support → 24,560 / 24,480
♠ Resistance → 24,750 / 24,860
Bank Nifty Outlook (🏦)
♦ Closed ▲137.75 pts at 55,181.45, forming a Homing Pigeon bullish reversal pattern.
♦ Key support: 55,050 → 54,950 → 54,700 (SBI Securities, SAMCO)
♦ Resistance zone: 55,350–55,450 → 55,500–55,600
♦ Breakout above 55,600 → sharp uptrend possible, while break below 54,850 → deeper correction risk.
♦ Momentum check:
♠ RSI slightly above 40; MACD flattening — early recovery signals.
♠ Index still trapped below 9-EMA, 20-SMA, 50-SMA, capping upside.
♦ Overall view: Range-bound but positive as long as 100-SMA holds.
Key Takeaways for Traders (✔)
♦ Nifty 50: Stay long above 24,590; watch for breakout at 24,700.
♦ Sensex: Support near 80,300; resistance at 81,000+.
♦ Bank Nifty: Early recovery signs, but confirmation needed above 55,350.
♦ Strategy: Focus on buying at support zones rather than chasing rallies.
