Market Analysis

Weekly Technical Outlook

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

Data as of 30 Aug 2026, 04:00 pm IST·Next refresh Sundays 16:00 ISTData cut-off: 2026-08-28

Overall weekly bias

Week: 2026-08-31 → 2026-09-04 · Data cut-off: 2026-08-28

Neutral to Positive

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

nifty_50: Neutralbank_nifty: Mildly Bullishsensex: Neutral

Nifty 50

Neutral

24,175.65▼ -0.32%

Confidence

Moderate

Market regime

Consolidation

Technical score

-1

RSI (14)

32.4

Close vs 20 EMA

24,260.09

Weekly range

24,076.85 — 24,378.60

Immediate resistance

24,343.88 · 24,512.12

Immediate support

24,042.13 · 23,908.62

Bias invalidation

Bias valid above 24,042.13 · Bearish risk below 23,908.62 · Bullish upside above 24,343.88

Expected weekly range: 23,994.60 — 24,356.70

Bank Nifty

Mildly Bullish

57,496.30▼ -0.46%

Confidence

Moderate

Market regime

Consolidation

Technical score

RSI (14)

46.4

Close vs 20 EMA

57,543.42

Weekly range

57,231.25 — 58,012.40

Immediate resistance

57,928.72 · 58,361.13

Immediate support

57,147.57 · 56,798.83

Bias invalidation

Bias valid above 57,147.57 · Bearish risk below 56,798.83 · Bullish upside above 57,928.72

Expected weekly range: 57,027.61 — 57,964.99

Sensex

Neutral

77,264.51▼ -0.36%

Confidence

Moderate

Market regime

Consolidation

Technical score

-1

RSI (14)

34.0

Close vs 20 EMA

77,551.38

Weekly range

76,933.59 — 77,986.84

Immediate resistance

77,856.37 · 78,448.23

Immediate support

76,803.12 · 76,341.73

Bias invalidation

Bias valid above 76,803.12 · Bearish risk below 76,341.73 · Bullish upside above 77,856.37

Expected weekly range: 76,632.56 — 77,896.46

Previous week at a glance

Nifty 50

Open · High

24,285.05 · 24,378.60

Low · Close

24,076.85 · 24,175.65

Return

-0.32%

Range (pts / %)

301.75 · 1.24%

Sessions +/−

2 / 3

Candle type

Neutral candle

Low 24,076.85Close 24,175.65 · 33%High 24,378.60

Strongest session

2026-08-25+158.80

Weakest session

2026-08-27-186.75

Bank Nifty

Open · High

57,828.15 · 58,012.40

Low · Close

57,231.25 · 57,496.30

Return

-0.46%

Range (pts / %)

781.15 · 1.35%

Sessions +/−

3 / 2

Candle type

Neutral candle

Low 57,231.25Close 57,496.30 · 34%High 58,012.40

Strongest session

2026-08-26+155.10

Weakest session

2026-08-27-475.05

Sensex

Open · High

77,629.56 · 77,986.84

Low · Close

76,933.59 · 77,264.51

Return

-0.36%

Range (pts / %)

1,053.25 · 1.36%

Sessions +/−

2 / 3

Candle type

Neutral candle

Low 76,933.59Close 77,264.51 · 31%High 77,986.84

Strongest session

2026-08-25+360.60

Weakest session

2026-08-27-643.16

Technical scorecards

NIFTY 50

Total -1

Indicator	Reading	Signal	Score
Weekly structure	Higher high	Positive	+1
Close vs 20 EMA	Below (24260.09)	Negative	-1
Close vs 50 EMA	Below (24192.95)	Negative	-1
Close vs 200 EMA	Below (24634.02)	Negative	-1
RSI (14)	32.35	Negative	-1
Weekly return	-0.32%	Neutral	+0

BANK NIFTY

Total +2

Indicator	Reading	Signal	Score
Weekly structure	Higher high	Positive	+1
Close vs 20 EMA	Below (57543.42)	Negative	-1
Close vs 50 EMA	Above (57285.04)	Positive	+1
Close vs 200 EMA	Above (57245.08)	Positive	+1
RSI (14)	46.43	Neutral	+0
Weekly return	-0.46%	Neutral	+0

SENSEX

Total -1

Indicator	Reading	Signal	Score
Weekly structure	Higher high	Positive	+1
Close vs 20 EMA	Below (77551.38)	Negative	-1
Close vs 50 EMA	Below (77374.36)	Negative	-1
Close vs 200 EMA	Below (79456.18)	Negative	-1
RSI (14)	34.04	Negative	-1
Weekly return	-0.36%	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
23,981.69 — 24,102.57	Strong	3	Weekly pivotWeekly lowPsychological 24000
23,848.18 — 23,969.06	Moderate	2	Weekly pivotPsychological 23900

Resistance zones

Zone	Strength	Confluence	Factors
24,283.44 — 24,404.32	Strong	3	Weekly pivotWeekly highPsychological 24300
24,451.68 — 24,572.56	Moderate	2	Weekly pivotPsychological 24500

Bank Nifty

Support zones

Zone	Strength	Confluence	Factors
57,003.83 — 57,291.31	Strong	4	Weekly pivot50 EMAWeekly lowPsychological 57100
56,655.09 — 56,942.58	Moderate	2	Weekly pivotPsychological 56800

Resistance zones

Zone	Strength	Confluence	Factors
57,784.98 — 58,072.46	Strong	3	Weekly pivotWeekly highPsychological 58000
58,217.39 — 58,504.87	Moderate	2	Weekly pivotPsychological 58500

Sensex

Support zones

Zone	Strength	Confluence	Factors
76,609.96 — 76,996.28	Strong	3	Weekly pivotWeekly lowPsychological 76800
76,148.57 — 76,534.89	Moderate	2	Weekly pivotPsychological 76500

Resistance zones

Zone	Strength	Confluence	Factors
77,663.21 — 78,049.53	Strong	3	Weekly pivotWeekly highPsychological 78000
78,255.07 — 78,641.39	Moderate	2	Weekly pivotPsychological 78500

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 24,175.65

Historical volatility

23,903.05 — 24,448.25

Width 545.20

Previous-week range

23,994.60 — 24,356.70

Width 362.10

Options-implied

24,008.45 — 24,342.85

Width 334.40

Combined reference

23,968.70 — 24,382.60

Width 413.90

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 57,496.30

Historical volatility

56,780.92 — 58,211.68

Width 1,430.76

Previous-week range

57,027.61 — 57,964.99

Width 937.38

Options-implied

56,012.80 — 58,979.80

Width 2,967.00

Combined reference

56,607.11 — 58,385.49

Width 1,778.38

Sensex

Close 77,264.51

Historical volatility

76,519.21 — 78,009.80

Width 1,490.59

Previous-week range

76,632.56 — 77,896.46

Width 1,263.90

Options-implied

76,505.01 — 78,024.01

Width 1,519.00

Combined reference

76,552.26 — 77,976.76

Width 1,424.50

Options positioning

Nifty 50

Exp 2026-09-01

24,175.65ATM 24,200

PCR (OI): 0.775
PCR (volume): 1.120
Max pain: 24,200
ATM straddle: 167.20
Implied move: ± 0.69%
Call wall: 24,300
Put floor: 24,000

Options-implied range

24,008.45 — 24,342.85

Balanced positioning

Bank Nifty

Exp 2026-09-29

57,496.30ATM 57,500

PCR (OI): 1.112
PCR (volume): 0.895
Max pain: 57,700
ATM straddle: 1,483.50
Implied move: ± 2.58%
Call wall: 57,500
Put floor: 57,500

Options-implied range

56,012.80 — 58,979.80

Balanced positioning

Sensex

Exp 2026-09-03

77,264.51ATM 77,300

PCR (OI): 1.027
PCR (volume): 1.152
Max pain: 77,400
ATM straddle: 759.50
Implied move: ± 0.98%
Call wall: 78,000
Put floor: 75,000

Options-implied range

76,505.01 — 78,024.01

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 24,200)

CE OI	CE IV	Strike	PE IV	PE OI
1,74,005	17.5	23,700	10.7	67,94,580
33,280	17.0	23,750	10.1	25,75,495
2,16,450	15.7	23,800	9.6	74,57,515
72,020	14.1	23,850	9.2	33,54,845
3,22,530	13.3	23,900	8.7	69,12,490
1,25,515	12.8	23,950	8.4	32,52,275
13,85,215	11.7	24,000	8.1	1,06,03,385
6,46,100	11.3	24,050	7.8	40,66,400
49,01,975	10.5	24,100	7.5	1,00,45,815
46,93,520	10.1	24,150	7.2	61,84,425
94,04,590	9.8	24,200ATM	6.9	82,13,010
59,82,860	9.4	24,250	6.5	26,65,325
1,32,95,230	9.2	24,300	5.9	37,90,280
81,05,175	9.0	24,350	0.0	13,65,650
1,06,19,245	9.0	24,400	0.0	17,26,270
58,75,155	9.0	24,450	0.0	4,74,630
1,29,38,640	9.1	24,500	0.0	17,30,040
51,82,320	9.2	24,550	0.0	1,38,125
83,17,400	9.5	24,600	0.0	4,39,465
32,45,710	9.9	24,650	0.0	1,01,335
76,14,100	10.3	24,700	0.0	2,43,165

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

CE OI	CE IV	Strike	PE IV	PE OI
55,410	11.2	56,500	11.5	4,04,790
1,980	11.4	56,600	11.3	44,460
25,200	11.6	56,700	11.3	43,140
3,510	11.2	56,800	11.3	51,570
3,240	11.0	56,900	11.2	31,620
2,11,470	10.7	57,000	11.1	7,70,700
11,250	10.8	57,100	11.1	45,990
36,780	10.7	57,200	10.9	2,07,810
84,960	10.6	57,300	11.0	3,24,720
1,28,010	10.8	57,400	10.9	3,51,840
18,74,280	10.7	57,500ATM	10.7	18,66,780
1,87,890	10.7	57,600	10.7	1,20,990
2,60,460	10.5	57,700	10.8	1,68,840
2,94,240	10.5	57,800	10.7	2,36,970
2,10,720	10.5	57,900	10.5	1,41,180
12,10,620	10.4	58,000	10.6	10,72,950
1,23,960	10.5	58,100	10.4	59,250
1,35,030	10.3	58,200	10.4	82,290
1,54,590	10.4	58,300	10.4	74,220
88,140	10.3	58,400	10.2	34,380
5,61,540	10.3	58,500	10.2	2,62,290

Sensex · OI ladder (±10 strikes around ATM 77,300)

CE OI	CE IV	Strike	PE IV	PE OI
2,940	11.6	76,300	9.9	86,700
4,720	11.3	76,400	9.8	90,400
26,060	11.4	76,500	9.7	2,46,760
8,720	11.2	76,600	9.6	1,05,080
11,320	11.0	76,700	9.4	1,35,020
32,400	10.8	76,800	9.4	1,54,460
30,220	10.6	76,900	9.3	2,02,700
2,19,380	10.7	77,000	9.2	6,70,020
2,33,840	10.4	77,100	9.1	4,10,560
2,87,800	10.2	77,200	8.9	3,67,200
2,16,860	10.1	77,300ATM	8.8	2,10,560
2,64,160	10.2	77,400	8.8	1,90,760
5,73,340	10.1	77,500	8.7	5,30,240
2,04,500	9.9	77,600	8.6	1,03,720
1,93,180	9.9	77,700	8.7	72,300
2,15,740	9.8	77,800	8.2	59,620
1,65,240	9.9	77,900	8.4	30,220
6,38,320	9.8	78,000	8.2	2,44,500
1,11,300	9.7	78,100	8.1	18,340
2,14,700	9.8	78,200	7.6	14,440
1,45,740	9.7	78,300	7.6	9,120

Conditional scenarios · bullish / range-bound / bearish

Nifty 50

Bullish scenario

Trigger 24,343.88 · A sustained move above 24343.88 with supportive breadth may open room toward 24512.12.

Invalidates if price returns below 24,042.13.

Range-bound scenario

Range 24,042.13 — 24,343.88. Trading between 24042.13 and 24343.88 would indicate continued consolidation near the pivot at 24210.37.

Bearish scenario

Trigger 24,042.13 · A sustained break below 24042.13 may expose the 23908.62 support zone.

Invalidates if price recovers above 24,343.88.

Bias invalidation framework

Bias valid above 24,042.13 · Bearish risk below 23,908.62 · Bullish conviction above 24,343.88

Bank Nifty

Bullish scenario

Trigger 57,928.72 · A sustained move above 57928.72 with supportive breadth may open room toward 58361.13.

Invalidates if price returns below 57,147.57.

Range-bound scenario

Range 57,147.57 — 57,928.72. Trading between 57147.57 and 57928.72 would indicate continued consolidation near the pivot at 57579.98.

Bearish scenario

Trigger 57,147.57 · A sustained break below 57147.57 may expose the 56798.83 support zone.

Invalidates if price recovers above 57,928.72.

Bias invalidation framework

Bias valid above 57,147.57 · Bearish risk below 56,798.83 · Bullish conviction above 57,928.72

Sensex

Bullish scenario

Trigger 77,856.37 · A sustained move above 77856.37 with supportive breadth may open room toward 78448.23.

Invalidates if price returns below 76,803.12.

Range-bound scenario

Range 76,803.12 — 77,856.37. Trading between 76803.12 and 77856.37 would indicate continued consolidation near the pivot at 77394.98.

Bearish scenario

Trigger 76,803.12 · A sustained break below 76803.12 may expose the 76341.73 support zone.

Invalidates if price recovers above 77,856.37.

Bias invalidation framework

Bias valid above 76,803.12 · Bearish risk below 76,341.73 · Bullish conviction above 77,856.37

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

Market breadth & sector confirmation

Advances vs declines

4,4115,0970.87× A/D

Mixed Breadth

52W highs / lows

13284

Sector participation

7up6down

Leading: IT, Metal, Healthcare

Lagging: Consumer Durables, FMCG, Energy

Heavyweight contribution

Top positive Nifty 50 movers

TCS
TATA CONSULTANCY SERV LT
+4.16%
TECHM
TECH MAHINDRA LIMITED
+3.53%
INFY
INFOSYS LIMITED
+2.99%
HCLTECH
HCL TECHNOLOGIES LTD
+2.66%
WIPRO
WIPRO LTD
+2.58%

Top negative Nifty 50 movers

ICICIBANK
ICICI BANK LTD.
-1.40%
SHRIRAMFIN
SHRIRAM FINANCE LIMITED
-1.28%
ITC
ITC LTD
-1.12%
ULTRACEMCO
ULTRATECH CEMENT LIMITED
-1.09%
ASIANPAINT
ASIAN PAINTS LIMITED
-0.85%

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

Institutional positioning (FII / DII)

As of 28-Aug-2026

FII cash segment

Net-5,040₹ cr

Buy+13,264₹ cr

Sell+18,303₹ cr

DII cash segment

Net+5,184₹ cr

Buy+16,539₹ cr

Sell+11,355₹ 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
23:30USUS Non-Farm Payrolls (Sep)GoldSilverUSD/INR
23:30USUS CPI (Sep)GoldSilverUSD/INR

Previous Weekly Technical Outlooks

Sunday 16:00 IST snapshots — permanent archive links.

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