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Below the Quote on Pre-market comment for Thursday August 20 by Hitesh Tailor, Technical Research Analyst at Choice Broking

Indian equity markets are set for a strong opening, with Gift Nifty around 24,234, up 144 points, supported by improved global sentiment. Wall Street recovered on Wednesday, while U.S. Treasury yields eased sharply after the Treasury announced it would double long-duration bond buybacks to at least $4 billion per operation, helping calm bond-market stress. The move supported equities, while the Fed minutes highlighted differing views on future rate hikes.

In the previous session on 19th August 2026, Nifty 50 closed at 24,078.30, down 76.60 points (-0.32%), after remaining under pressure for most of the session. The index slipped to 24,025.65 before recovering modestly, but continued to trade below its 50-Day EMA. RSI at 42.22 reflected weakened momentum, keeping the near-term structure cautious.

The India VIX eased to 11.32, while PCR at 0.70 indicated a cautious derivatives setup. Put OI around 24,000–23,700 highlights the importance of the 24,000 zone, while Call OI near 24,300–24,500 suggests overhead supply. Immediate support is placed at 24,000–24,050, while resistance is seen around 24,350–24,400.

In the previous session on 19th August 2026, Bank Nifty closed almost flat at 57,239.75, holding near its rising trendline and 50-Day EMA at 57,183. With RSI at 47.10, momentum remains neutral with a slight negative undertone. Immediate support is placed at 56,800–57,000, while resistance is seen around 58,000–58,200. The index is likely to remain range-bound until a clear directional move emerges.

FIIs extended their buying streak for the second consecutive session, purchasing equities worth Rs 407 crore. DIIs also continued their buying spree for the seventh straight session, investing Rs 3,973 crore in Indian equities, providing strong domestic institutional support to the market.

The near-term setup turns cautiously positive, with Gift Nifty indicating a strong opening and global equities gaining after U.S. Treasury measures helped ease bond-market stress. Softer global yields and improved risk appetite could support a recovery in Indian equities, although elevated crude prices and geopolitical risks remain watch points. Overall, the bias is range-bound to bullish, with buying interest likely to emerge on dips.

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