Indian equity markets are set for a steady start on Tuesday, August 12, following a strong rebound in the previous session. As of 8 am, GIFT Nifty was trading 26 points higher at 24,597, indicating a marginally positive opening for the Sensex and Nifty.
On August 11, bulls returned to the market, pushing both benchmark indices up nearly 1%. Gains were driven by strong buying in PSU banking, realty, and auto stocks, as investors shrugged off last week’s tariff-related volatility. The recovery came after the Nifty hit a three-month low and posted its longest weekly losing streak in five years.
Foreign Institutional Investors (FIIs) were net sellers, offloading shares worth ₹1,202 crore. However, the downside was cushioned by Domestic Institutional Investors (DIIs), who remained net buyers with ₹5,972 crore worth of equity purchases.
Key Levels for Today
- Nifty: Immediate support is at 24,300, while resistance stands at 24,630. A decisive close above this level could strengthen bullish sentiment. Expected intraday range: 24,400–24,800.
- Bank Nifty: Took support near the 100-EMA at 54,950 and faces resistance around 56,000. Expected intraday range: 54,800–56,200.
- India VIX: The volatility index closed 1.54% higher at 12.22 after touching an intraday high of 12.73, signalling a degree of caution in the market.
- Put-Call Ratio (PCR): Rose sharply to 1.03 from 0.66 in the previous session, reflecting increased bullish positioning as traders sold more Put options than Calls.
Analysts say sustained buying above key resistance levels could extend Monday’s rally, while a break below immediate supports may invite profit-booking.
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