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Below the Quote on Post Market Comment by Hardik Matalia, Research Analyst, Choice Broking

Indian benchmark indices ended on a flat note and traded sideways on August 14th. At the close, the Sensex was up by 149.86 points or 0.19 percent at 79105.89, and the Nifty was up by 4.75 points or 0.02 percent at 24143.75.

On the daily chart, the Nifty opened with a gap-up but couldn't sustain the higher levels, and selling pressure dragged it to lower levels. The Index is facing rejection at higher levels for the third consecutive day, indicating a sideways to bearish momentum. Nifty has immediate support near the 24050 and 23950 levels. On the other hand, 24300 and 24400 will act as immediate resistance levels, with the price likely to remain sideways in this range. If the price manages to hold above the 24400 level, it could potentially rise to 24550 and 24600 levels.

In terms of sectors, IT was the sector that remained positive, with a 1.58 percent increase & Auto sector was slightly positive with a 0.05 percent increase. On the other hand, the Metal, Media, and Pharma sectors experienced a huge decline of 0.8-1.26 percent. The India VIX, which reflects market volatility, declined by 4.53 percent to close at 15.4350, indicating a decrease in market volatility. Open Interest (OI) data revealed that the highest OI on the call side was observed at the 24,200 and 24,400 strike prices, while on the put side, it was concentrated at the 24,000 strike price.

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