Sensex, Nifty to Open Higher on August 12; Key Levels to Watch
Nifty may trade in 24,400–24,800 range; Bank Nifty faces resistance at 56,000.
Nifty, Sensex Outlook: Market Eyes Bullish Momentum Amid DII Buying
Mumbai — Indian equity benchmarks Sensex and Nifty are poised to open marginally higher on Tuesday, August 12, extending Monday’s strong gains. At 8 am, GIFT Nifty traded 26 points higher at 24,597, indicating a steady start for domestic markets.
📈 Monday’s Market Recap
On August 11, bulls regained control, with Sensex and Nifty climbing nearly 1% each, led by strong buying in PSU banking, realty, and auto stocks. The rebound came after last week’s tariff-driven sell-off pushed Nifty to a three-month low and marked its longest weekly losing streak in five years.
♦ FII Activity: Net sellers of equities worth ₹1,202 crore
♦ DII Activity: Net buyers worth ₹5,972 crore
🎯 Key Technical Levels to Track Today
♦ Nifty
♣ Support: 24,300 🛡
♣ Resistance: 24,630 🚀
♣ Expected Range: 24,400–24,800
♦ Bank Nifty
♣ Support: 54,900 🛡
♣ Resistance: 56,000 🚀
♣ Expected Range: 54,800–56,200
A sustained move above 24,630 could reinforce bullish momentum, while holding 24,300 is crucial for stability. Bank Nifty’s rebound from its 100-EMA level of 54,950 suggests underlying strength.
📊 Sentiment Indicators
♦ India VIX: Closed at 12.22 (+1.54%), signalling cautious optimism among traders.
♦ Put-Call Ratio (PCR): Rose to 1.03 from 0.66, indicating more Put selling than Call selling — a sign of strengthening bullish sentiment.
💡 Market Outlook
Analysts expect the market to trade with a positive bias today, supported by strong DII inflows and improving technical setups. However, the elevated VIX suggests volatility risk remains, and traders should monitor resistance levels closely.
