Stock Market Technical Analysis | 24th to 28st Aug 2026 Weekly Wrap

Indian equities remained range-bound amid mixed sectoral performance and continued domestic institutional support. Derivatives positioning around key Nifty and Bank Nifty levels may provide useful cues for the week ahead.

Expert recommendation by:

• Mr. Ketan Kaushik - Derivative Analyst

Equity

• Benchmark Index traded volatile in the previous week before closing with 0.31% cut at 24176 level. Banking Index lagged the benchmark index as it closed with 0.46% cut at 57496 level.
• Among the Nifty constituents, ADANIENT and KOTAKBANK outperformed the benchmark index as they closed with 5.72% and 5.19% gains while SHRIRAMFIN and BHARTIARTL underperformed as they closed with 3.81% and 3.27% cut respectively. Among the Bank Nifty constituents KOTAKBANK outperformed the benchmark index as it closed with 5.19% gain while FEDERALBNK underperformed the benchmark index as it closed with 4.64% cut.
• Among sectors, NIFTYMETAL index outperformed the benchmark index during the previous week as it closed with 2.68% gain while NIFTYFMCG index underperformed as it closed with 1.46% cut. Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.52% and 0.51% gains respectively.
• Volatility index (India VIX) closed with 4.60% cut at 10.68 level.
• FII were net seller as they sold stocks worth Rs 2,060 Cr while DII were net buyer as they bought stocks worth Rs19,310 Cr during the previous week in the cash segment.
• Globally, equity markets traded with a positive bias as both US market (DJIA) and European market (STOXX 600) closed with 0.53% and 0.15% gains respectively.

Derivatives

• Derivatives data for Nifty suggest max OI addition at 24100 for both call and put side with max OI at 24300 Call and 24000 Put side (1st Sep expiry). Nifty cumulative PCR closed at 0.89 for 28-Aug-26.
• Derivatives data for Bank-nifty suggest max OI addition at 57500 for both call and put side with max OI at 61000 Call and 57500 Put side (29th Sep expiry). Bank-nifty cumulative PCR closed at 1.14 for 28-Aug-26.

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Performance:

Indices

Source: NSE

Sector Gainers/Losers

Source: NSE

FII / DII ACTIVITY (WEEKLY)

Source: NSE

SUPPORT/RESISTANCE LEVEL FOR UPCOMING WEEK

Source: NSE

DAILY EXPONENTIAL MOVING AVERAGE

Source: NSE

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

• Benchmark index traded volatile in the previous week before closing with indecisive candlestick formation on the weekly chart
• Benchmark index is likely to trade volatile in the coming week
• Benchmark Index has support at 23,800 – 23,600 level and resistance at 24,700– 24,900 level

BANK NIFTY (WEEKLY)

• Banking index performed in line with the benchmark and closed with indecisive candlestick formation on the weekly chart
• Banking index is likely to perform in line the Benchmark index in the coming week
• Banking index has support at 56,500-56,000 and resistance at 58,600-59,100 level

FIN NIFTY (WEEKLY)

• FINNIFTY index outperformed the banking index and closed with indecisive candlestick formation on the weekly chart
• FINNIFTY is likely to trade in line with the banking index in the coming week
• FINNIFTY has support at 25,800-25,600 level and resistance at 26,700-27,000 level.

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Market FAQs – Weekly Summary

1. How did Nifty perform during the week?

Nifty 50 closed at 24,176, recording a 0.31% weekly decline after a volatile trading session.

2. How did Bank Nifty perform?

Bank Nifty closed at 57,496, declining 0.46% and lagging the benchmark index.

3. Which Nifty stocks outperformed during the week?

Adani Enterprises and Kotak Mahindra Bank were among the better-performing Nifty constituents, gaining 5.72% and 5.19%, respectively.

4. Which sector performed best during the week?

Nifty Metal outperformed with a 2.68% weekly gain, while Nifty FMCG declined 1.46%.

5. What happened to India VIX?

India VIX declined 4.60% to 10.68, indicating lower implied market volatility during the week.

6. What was FII activity during the week?

Foreign Institutional Investors were net sellers, selling stocks worth approximately ₹2,060 crore in the cash segment.

7. What was DII activity during the week?

Domestic Institutional Investors were net buyers, purchasing stocks worth approximately ₹19,310 crore in the cash segment.

8. What are the key Nifty derivatives levels?

Derivatives positioning indicated 24,000 as an important put-side level and 24,300 as a key call-side level for Nifty.

9. What was Nifty's cumulative PCR?

Nifty's cumulative Put-Call Ratio (PCR) stood at 0.89 as of August 28.

10. What were the key Bank Nifty derivatives levels?

Bank Nifty saw notable positioning around 57,500, with cumulative PCR at 1.14 as of August 28.

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