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Below the Quote on Pre-market comment for Friday August 21 by Hitesh Tailor, Technical Research Analyst at Choice Broking

Indian equity markets are likely to witness a mildly positive opening, with Gift Nifty around 24,325, up 25 points, although global cues remain mixed. Wall Street ended sharply lower on Thursday, with the S&P 500 falling 0.87% and Nasdaq 1%, as rising Treasury yields, higher crude prices and renewed U.S.–Iran tensions weighed on risk appetite. Early Asian markets are also largely subdued, keeping volatility elevated.

In the previous session on 20th August 2026, Nifty 50 closed at 24,231.85, gaining 153.55 points (+0.64%), after a gap-up opening followed by consolidation and a recovery towards the 24,265.15 high. The index formed a Doji-like candle, indicating some indecision, while RSI at 48.33 showed improving but still moderate momentum. Realty, Media, FMCG and Auto led sectoral gains.

India VIX declined to 10.75 and PCR improved to 1.10, reflecting a better-balanced derivatives setup. Put OI around 24,200–24,000 offers support, while Call OI near 24,300–24,500 indicates supply. Immediate support is placed at 24,100–24,150, while resistance is seen around 24,400–24,500.

In the previous session on 20th August 2026, Bank Nifty closed at 57,495.90, gaining 256.15 points (+0.45%) after a strong gap-up opening, but profit booking capped the upside. The index remained in a consolidation phase despite holding positive momentum. Immediate support is placed at 56,800–57,000, while resistance is seen around 58,000–58,200.

On 20th August 2026, FIIs remained net sellers, offloading equities worth Rs 583 crore, while DIIs continued to support the market with strong net purchases of Rs 3,537 crore. The sustained domestic institutional buying helped cushion the impact of foreign outflows.

The near-term bias remains cautiously positive but volatile. Thursday’s rebound in Indian equities offers some comfort, but weak U.S. markets, elevated Treasury yields and crude prices could restrict follow-through buying. With domestic support still present, the market may favour selective buying on dips, while geopolitical developments around Iran and the Strait of Hormuz remain key swing factors.

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