IGI Logo

Below the Quote on Pre-market comment 19th Aug 2025 by Mandar Bhojane, Senior Technical & Derivative Analyst, Choice Broking

Indian benchmark indices Sensex and Nifty are expected to open firm on Tuesday, taking cues from GIFT Nifty, which was trading about 20 points higher around 24,992 this morning. Markets gained for the third day on Aug 18, driven by lower oil, S&P rating upgrade, and GST cut hopes.  On the daily chart, Nifty formed a shooting star, hinting at a possible pullback toward 24,700. However, hourly RSI shows bullish divergence, indicating strength and scope for upside. With FII long-short ratio at just 8% , short covering could fuel the rally. Key supports: 24,700 & 24,600; Key resistances: 25,000 & 25,200. Bank Nifty has formed a strong base near 54,900–55,000, showing resilience. Hourly RSI shows positive divergence, signaling momentum shift toward buyers. Short-term outlook is bullish with potential for further gains. Key supports: 55,500 & 55,300; Key resistances: 56,200 & 56,500. After four days of selling, FIIs turned buyers on August 18, purchasing equities worth ?550 crore, while DIIs bought shares worth ?4,103 crore. Indian equities are set for a steady start on Tuesday, with Gift Nifty 24,995 +29 pts. Yesterday Nifty and Sensex rallied 1% led by auto, consumption, metal, and realty stocks, driven by GST reform buzz. Nifty is trading above key moving averages with bullish momentum. Supports: 24,700–24,600; near-term bottom: 24,337. Upside targets: 25,000 and 25,200.

Above views are of the author and not of the website kindly read disclaimer