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Below the Quote on Pre-market comment for Wednesday August 19 by Hitesh Tailor, Technical Research Analyst at Choice Broking

Indian equity markets are likely to see a mildly positive opening, with Gift Nifty around 24,205, up 26 points. However, global cues remain mixed: Wall Street closed lower on 18th August, with the S&P 500 down 0.69% and Nasdaq lower by 1.33%, led by technology weakness. In early Asian trade, markets are also largely under pressure, with Nikkei and Hang Seng trading lower, as elevated crude prices, rising bond yields and Middle East tensions continue to weigh on sentiment.

In the previous session on 18th August 2026, Nifty 50 closed at 24,154.90, down 132.75 points (-0.55%), after remaining under selling pressure and ending near the day’s low. RSI at 44.67 indicated weakening momentum, while Media, Auto and Oil & Gas outperformed and IT, Realty and FMCG remained weak.

PCR at 0.81 reflected a cautious derivatives setup, with Call writing around 24,200–24,300. Immediate support is placed at 24,000–24,150, while resistance is seen at 24,300–24,350.

In the previous session on 18th August 2026, Bank Nifty closed at 57,262.40, down 235.40 points (-0.41%), after losing momentum from the higher levels and slipping towards the 57,200 zone. The index remains near its short-term moving averages and rising trendline, making lower-level support crucial. Immediate support is placed at 56,500–56,700, while resistance is seen around 57,400–57,700.

Foreign Institutional Investors (FIIs) turned net buyers, purchasing equities worth ?1,651 crore. Domestic Institutional Investors (DIIs) also extended their buying streak to the sixth consecutive session, investing ?2,579 crore in Indian equities. This combined institutional inflow provided some cushion despite the broader market weakness.

The near-term outlook remains cautious with a recovery bias, as Gift Nifty’s uptick offers some relief after six consecutive sessions of decline. However, elevated crude prices, weak global cues and ongoing U.S.–Iran tensions may continue to cap upside. With institutional buying providing support, the session could see selective bargain hunting amid volatility, keeping the broader bias range-bound to mildly positive.

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