Market Analysis

Weekly Technical Outlook

Support, resistance, trend bias and options-driven technical scenarios for Nifty 50, Bank Nifty and Sensex.

Data as of 16 Aug 2026, 04:00 pm IST·Next refresh Sundays 16:00 ISTData cut-off: 2026-08-14

Overall weekly bias

Week: 2026-08-17 → 2026-08-21 · Data cut-off: 2026-08-14

Positive weekly bias

Nifty 50: Mildly Bullish, Bank Nifty: Mildly Bullish, Sensex: Mildly Bullish. Confidence varies by index.

nifty_50: Mildly Bullishbank_nifty: Mildly Bullishsensex: Mildly Bullish

Nifty 50

Mildly Bullish

24,366.00▼ -0.83%

Confidence

Moderate

Market regime

Consolidation

Technical score

RSI (14)

64.5

Close vs 20 EMA

24,363.57

Weekly range

24,265.95 — 24,620.95

Immediate resistance

24,569.32 · 24,772.63

Immediate support

24,214.32 · 24,062.63

Bias invalidation

Bias valid above 24,214.32 · Bearish risk below 24,062.63 · Bullish upside above 24,569.32

Expected weekly range: 24,153.00 — 24,579.00

Bank Nifty

Mildly Bullish

57,491.10▼ -0.44%

Confidence

Moderate

Market regime

Consolidation

Technical score

RSI (14)

58.6

Close vs 20 EMA

57,575.12

Weekly range

57,158.10 — 58,015.85

Immediate resistance

57,951.93 · 58,412.77

Immediate support

57,094.18 · 56,697.27

Bias invalidation

Bias valid above 57,094.18 · Bearish risk below 56,697.27 · Bullish upside above 57,951.93

Expected weekly range: 56,976.45 — 58,005.75

Sensex

Mildly Bullish

78,009.25▼ -0.62%

Confidence

Moderate

Market regime

Consolidation

Technical score

RSI (14)

64.9

Close vs 20 EMA

77,902.99

Weekly range

77,497.93 — 78,676.98

Immediate resistance

78,624.84 · 79,240.43

Immediate support

77,445.79 · 76,882.34

Bias invalidation

Bias valid above 77,445.79 · Bearish risk below 76,882.34 · Bullish upside above 78,624.84

Expected weekly range: 77,301.82 — 78,716.68

Previous week at a glance

Nifty 50

Open · High

24,581.25 · 24,620.95

Low · Close

24,265.95 · 24,366.00

Return

-0.83%

Range (pts / %)

355.00 · 1.45%

Sessions +/−

2 / 3

Candle type

Neutral candle

Low 24,265.95Close 24,366.00 · 28%High 24,620.95

Strongest session

2026-08-14+4.10

Weakest session

2026-08-11-103.40

Bank Nifty

Open · High

57,812.30 · 58,015.85

Low · Close

57,158.10 · 57,491.10

Return

-0.44%

Range (pts / %)

857.75 · 1.49%

Sessions +/−

1 / 4

Candle type

Bearish rejection candle

Low 57,158.10Close 57,491.10 · 39%High 58,015.85

Strongest session

2026-08-12+494.05

Weakest session

2026-08-13-163.90

Sensex

Open · High

78,501.59 · 78,676.98

Low · Close

77,497.93 · 78,009.25

Return

-0.62%

Range (pts / %)

1,179.05 · 1.50%

Sessions +/−

2 / 3

Candle type

Bearish rejection candle

Low 77,497.93Close 78,009.25 · 43%High 78,676.98

Strongest session

2026-08-14+105.82

Weakest session

2026-08-11-355.52

Technical scorecards

NIFTY 50

Total +2

Indicator	Reading	Signal	Score
Weekly structure	Higher high	Positive	+1
Close vs 20 EMA	Above (24363.57)	Positive	+1
Close vs 50 EMA	Above (24188.48)	Positive	+1
Close vs 200 EMA	Below (24638.09)	Negative	-1
RSI (14)	64.50	Positive	+1
Weekly return	-0.83%	Negative	-1

BANK NIFTY

Total +3

Indicator	Reading	Signal	Score
Weekly structure	Higher high	Positive	+1
Close vs 20 EMA	Below (57575.12)	Negative	-1
Close vs 50 EMA	Above (57132.93)	Positive	+1
Close vs 200 EMA	Above (57146.06)	Positive	+1
RSI (14)	58.64	Positive	+1
Weekly return	-0.44%	Neutral	+0

SENSEX

Total +3

Indicator	Reading	Signal	Score
Weekly structure	Higher high	Positive	+1
Close vs 20 EMA	Above (77902.99)	Positive	+1
Close vs 50 EMA	Above (77382.50)	Positive	+1
Close vs 200 EMA	Below (79528.19)	Negative	-1
RSI (14)	64.90	Positive	+1
Weekly return	-0.62%	Neutral	+0

Recommended bands: +6 Strong Bullish · +3 to +5 Bullish · −2 to +2 Neutral · −3 to −5 Bearish · −6 Strong Bearish.

Support & resistance zones (with confluence scoring)

Nifty 50

Support zones

Zone	Strength	Confluence	Factors
24,153.40 — 24,275.23	Strong	4	Weekly pivot50 EMAWeekly lowPsychological 24200
24,001.72 — 24,123.55	Moderate	2	Weekly pivotPsychological 24100

Resistance zones

Zone	Strength	Confluence	Factors
24,508.40 — 24,630.23	Strong	3	Weekly pivotWeekly highPsychological 24600
24,711.72 — 24,833.55	Moderate	2	Weekly pivotPsychological 24800

Bank Nifty

Support zones

Zone	Strength	Confluence	Factors
56,950.46 — 57,237.91	Strong	4	Weekly pivot50 EMAWeekly lowPsychological 57000
56,553.54 — 56,841.00	Moderate	2	Weekly pivotPsychological 56700

Resistance zones

Zone	Strength	Confluence	Factors
57,808.21 — 58,095.66	Strong	3	Weekly pivotWeekly highPsychological 58000
58,269.04 — 58,556.50	Moderate	2	Weekly pivotPsychological 58500

Sensex

Support zones

Zone	Strength	Confluence	Factors
77,250.77 — 77,640.82	Strong	4	Weekly pivot50 EMAWeekly lowPsychological 77500
76,687.32 — 77,077.36	Moderate	2	Weekly pivotPsychological 77000

Resistance zones

Zone	Strength	Confluence	Factors
78,429.82 — 78,819.86	Strong	3	Weekly pivotWeekly highPsychological 78500
79,045.41 — 79,435.46	Moderate	2	Weekly pivotPsychological 79200

Confluence counts independent factors overlapping the zone (weekly pivot, moving averages, weekly high/low, psychological round-numbers).

Expected weekly ranges (multi-method)

Nifty 50

Close 24,366.00

Historical volatility

24,045.71 — 24,686.29

Width 640.58

Previous-week range

24,153.00 — 24,579.00

Width 426.00

Options-implied

24,186.35 — 24,545.65

Width 359.30

Combined reference

24,128.35 — 24,603.65

Width 475.30

Historical volatility uses the last 20 daily returns × √5. Previous-week range is scaled by 0.6. Combined = midpoint of the two ranges. Options-implied range is populated when weekly ATM straddle data is available.

Bank Nifty

Close 57,491.10

Historical volatility

56,316.51 — 58,665.69

Width 2,349.18

Previous-week range

56,976.45 — 58,005.75

Width 1,029.30

Options-implied

56,580.95 — 58,401.25

Width 1,820.30

Combined reference

56,624.64 — 58,357.56

Width 1,732.92

Sensex

Close 78,009.25

Historical volatility

77,075.85 — 78,942.65

Width 1,866.80

Previous-week range

77,301.82 — 78,716.68

Width 1,414.86

Options-implied

77,210.70 — 78,807.80

Width 1,597.10

Combined reference

77,196.12 — 78,822.38

Width 1,626.26

Options positioning

Nifty 50

Exp 2026-08-18

24,366.00ATM 24,350

PCR (OI): 0.884
PCR (volume): 0.985
Max pain: 24,400
ATM straddle: 179.65
Implied move: ± 0.74%
Call wall: 25,000
Put floor: 24,000

Options-implied range

24,186.35 — 24,545.65

Balanced positioning

Bank Nifty

Exp 2026-08-25

57,491.10ATM 57,500

PCR (OI): 0.783
PCR (volume): 0.881
Max pain: 57,800
ATM straddle: 910.15
Implied move: ± 1.58%
Call wall: 58,000
Put floor: 58,000

Options-implied range

56,580.95 — 58,401.25

Balanced positioning

Sensex

Exp 2026-08-20

78,009.25ATM 78,000

PCR (OI): 0.995
PCR (volume): 0.984
Max pain: 78,000
ATM straddle: 798.55
Implied move: ± 1.02%
Call wall: 80,000
Put floor: 78,000

Options-implied range

77,210.70 — 78,807.80

Balanced positioning

PCR = Put OI / Call OI. Values ≥ 1.25 = put-heavy, potentially supportive. ≤ 0.75 = call-heavy, potentially resistance-heavy. Options positioning may change materially after the market opens, around major events and near contract expiry.

Options open-interest heatmap

Nifty 50 · OI ladder (±10 strikes around ATM 24,350)

CE OI	CE IV	Strike	PE IV	PE OI
24,570	19.3	23,850	11.6	22,91,835
1,73,875	17.5	23,900	11.1	46,07,915
39,910	16.5	23,950	10.4	25,58,595
4,53,700	15.5	24,000	9.9	1,14,25,830
66,105	14.3	24,050	9.3	29,87,270
3,12,910	13.1	24,100	8.8	51,19,920
1,55,675	12.5	24,150	8.5	37,08,380
11,93,400	11.3	24,200	8.1	73,55,335
5,00,435	10.9	24,250	7.9	39,36,530
32,39,795	10.4	24,300	7.6	1,02,69,480
42,10,440	9.9	24,350ATM	7.3	68,43,330
81,73,945	9.6	24,400	7.1	73,82,765
48,10,130	9.4	24,450	6.7	26,59,735
1,13,33,855	9.3	24,500	6.2	38,06,140
41,07,870	9.2	24,550	5.3	6,42,850
91,70,525	9.0	24,600	0.0	17,75,020
36,03,795	9.0	24,650	0.0	2,93,605
85,71,940	9.1	24,700	0.0	6,60,010
41,72,675	9.2	24,750	0.0	1,16,090
1,03,55,735	9.4	24,800	0.0	3,94,290
27,49,630	9.7	24,850	0.0	26,195

Bank Nifty · OI ladder (±10 strikes around ATM 57,500)

CE OI	CE IV	Strike	PE IV	PE OI
1,44,450	11.5	56,500	12.3	4,85,220
10,770	11.6	56,600	12.2	90,480
22,650	11.4	56,700	12.1	1,37,670
45,570	11.3	56,800	12.0	1,62,300
73,230	11.2	56,900	12.0	1,38,090
5,84,880	11.4	57,000	11.9	9,50,880
80,700	11.3	57,100	11.8	1,36,260
1,11,750	11.3	57,200	11.7	1,86,150
1,08,120	11.3	57,300	11.6	1,72,410
1,40,970	11.3	57,400	11.6	1,81,920
7,78,980	11.3	57,500ATM	11.5	6,24,030
3,10,380	11.3	57,600	11.5	2,02,650
3,88,830	11.2	57,700	11.7	2,54,130
4,26,120	11.3	57,800	11.5	2,19,420
3,07,470	11.4	57,900	11.5	1,57,380
21,70,320	11.3	58,000	11.5	12,38,910
2,70,690	11.2	58,100	11.5	2,37,810
2,52,630	11.2	58,200	11.3	1,48,830
2,11,980	11.1	58,300	11.3	92,700
1,32,390	11.2	58,400	11.0	24,750
10,14,270	11.3	58,500	11.4	2,51,040

Sensex · OI ladder (±10 strikes around ATM 78,000)

CE OI	CE IV	Strike	PE IV	PE OI
29,900	12.0	77,000	10.4	3,55,660
4,060	10.7	77,100	10.4	81,220
9,500	10.5	77,200	10.2	1,23,320
15,200	10.7	77,300	10.2	1,52,320
18,180	10.4	77,400	10.1	1,32,620
97,740	10.3	77,500	10.0	3,53,560
29,240	10.4	77,600	9.9	2,13,540
71,780	9.9	77,700	9.8	4,10,280
2,38,780	10.1	77,800	9.8	5,23,680
1,66,840	10.0	77,900	9.8	3,43,260
7,02,500	10.0	78,000ATM	9.7	7,89,140
1,99,280	10.2	78,100	9.8	1,36,900
1,76,400	10.1	78,200	9.6	1,17,520
1,32,440	10.1	78,300	9.7	76,580
1,31,980	10.0	78,400	9.7	36,820
3,79,860	10.0	78,500	9.6	1,61,300
2,17,960	10.1	78,600	9.5	43,960
1,01,620	9.9	78,700	9.6	18,380
1,13,360	10.0	78,800	9.5	21,060
96,920	10.1	78,900	9.2	11,020
5,08,380	9.9	79,000	9.5	69,880

Conditional scenarios · bullish / range-bound / bearish

Nifty 50

Bullish scenario

Trigger 24,569.32 · A sustained move above 24569.32 with supportive breadth may open room toward 24772.63.

Invalidates if price returns below 24,214.32.

Range-bound scenario

Range 24,214.32 — 24,569.32. Trading between 24214.32 and 24569.32 would indicate continued consolidation near the pivot at 24417.63.

Bearish scenario

Trigger 24,214.32 · A sustained break below 24214.32 may expose the 24062.63 support zone.

Invalidates if price recovers above 24,569.32.

Bias invalidation framework

Bias valid above 24,214.32 · Bearish risk below 24,062.63 · Bullish conviction above 24,569.32

Bank Nifty

Bullish scenario

Trigger 57,951.93 · A sustained move above 57951.93 with supportive breadth may open room toward 58412.77.

Invalidates if price returns below 57,094.18.

Range-bound scenario

Range 57,094.18 — 57,951.93. Trading between 57094.18 and 57951.93 would indicate continued consolidation near the pivot at 57555.02.

Bearish scenario

Trigger 57,094.18 · A sustained break below 57094.18 may expose the 56697.27 support zone.

Invalidates if price recovers above 57,951.93.

Bias invalidation framework

Bias valid above 57,094.18 · Bearish risk below 56,697.27 · Bullish conviction above 57,951.93

Sensex

Bullish scenario

Trigger 78,624.84 · A sustained move above 78624.84 with supportive breadth may open room toward 79240.43.

Invalidates if price returns below 77,445.79.

Range-bound scenario

Range 77,445.79 — 78,624.84. Trading between 77445.79 and 78624.84 would indicate continued consolidation near the pivot at 78061.39.

Bearish scenario

Trigger 77,445.79 · A sustained break below 77445.79 may expose the 76882.34 support zone.

Invalidates if price recovers above 78,624.84.

Bias invalidation framework

Bias valid above 77,445.79 · Bearish risk below 76,882.34 · Bullish conviction above 78,624.84

Scenarios are conditional and use rule-based technical zones. Not personalised trading or hedging recommendations.

Market breadth & sector confirmation

Advances vs declines

3,0866,3930.48× A/D

Strong Negative Breadth

52W highs / lows

11176

Sector participation

2up11down

Leading: Media, Consumer Durables

Lagging: Pharma, Metal, Auto

Heavyweight contribution

Top positive Nifty 50 movers

APOLLOHOSP
APOLLO HOSPITALS ENTER. L
+3.73%
BHARTIARTL
BHARTI AIRTEL LIMITED
+2.73%
ADANIPORTS
ADANI PORT & SEZ LTD
+2.53%
ADANIENT
ADANI ENTERPRISES LIMITED
+2.37%
ICICIBANK
ICICI BANK LTD.
+0.73%

Top negative Nifty 50 movers

TMPV
TATA MOTORS PASS VEH LTD
-4.32%
JIOFIN
JIO FIN SERVICES LTD
-2.56%
ASIANPAINT
ASIAN PAINTS LIMITED
-2.15%
HINDALCO
HINDALCO INDUSTRIES LTD
-1.60%
ONGC
OIL AND NATURAL GAS CORP.
-1.46%

Nifty 50 constituents (screener_snapshots) · % change is a proxy for approximate index-point contribution.

Institutional positioning (FII / DII)

As of 14-Aug-2026

FII cash segment

Net+508₹ cr

Buy+12,854₹ cr

Sell+12,346₹ cr

DII cash segment

Net+356₹ cr

Buy+14,295₹ cr

Sell+13,939₹ cr

Events that could change the technical setup

Later this week

23:30USUS Non-Farm Payrolls (Aug)GoldSilverUSD/INR
23:30USUS CPI (Aug)GoldSilverUSD/INR
23:30USFOMC Rate Decision + Powell Presser (SEP)All marketsGoldSilver

Previous Weekly Technical Outlooks

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