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Below the Quote on Post market comment 28th August 2025 by Amruta Shinde, Research Analyst, Choice Broking

"Indian equity markets ended sharply lower on August 28, 2025. At the close, the Sensex declined 705.97 points, or 0.87%, to 80,080.57, while the Nifty fell 211.15 points, or 0.85%, to 24,500.90. The broader markets also remained under pressure, with the BSE Midcap index slipping 1% and the Smallcap index down 0.9%. 

The Nifty started on a weak note, attempted an intraday rebound but failed to sustain, and eventually hit a fresh low for the day. It formed a strong bearish candle on the daily chart, signaling continued selling pressure. Technically, a decisive move above 24,700 could open the way toward 24,850 and 25,000. On the downside, immediate support is seen at 24,337, followed by 24,660 (200-day EMA), both of which may act as attractive levels for fresh long positions. Sectorally, barring Consumer Durables, all other indices ended in the red, with Banking, IT, Realty, FMCG, and Telecom losing around 1% each. 

Bank Nifty also extended its losing streak, closing in the red for the fifth consecutive session. The index slipped below the crucial 54,000 mark, reinforcing bearish momentum. Key support is placed at 53,570 (200-day EMA) and 53,480, while resistance is seen in the 54,000–54,450 zone. A breakout above this resistance band could trigger a rebound toward the psychological 54,850 level. 

Meanwhile, India VIX, the volatility gauge, remained largely flat, edging down 0.12% to 12.17, indicating relative stability despite the sharp index decline. In the derivatives segment, the highest Call Open Interest was seen at the 24,800 strike, while the highest Put Open Interest was concentrated at the 24,500 strike. This positioning suggests that resistance remains firm near 24,800, and a sustained close above this level will be crucial to revive bullish momentum."

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