Good Morning @all 👋
📊 *Morning Brief | 24 August 2026*
*MARKET OUTLOOK*
Nifty ended flat on Friday, trading within a narrow 80-point range for the second consecutive session. Despite the recent pullback, the index continues to hold the important *24,000–24,200 support zone*.
The broader structure remains constructive as long as this zone holds.
📌 *Key Nifty Levels*
• Support: *24,000–24,200*
• Immediate resistance: *24,500*
• Upside level to watch: *24,750* — around the 200 DMA
• Below 24,000, the next important support zone remains around *23,800*
For now, the market remains range-bound and continues to search for clear leadership. Until we see a decisive breakout, Nifty may continue consolidating broadly between *24,000 and 24,500*.
---
🏦 *BANK NIFTY*
Bank Nifty has continued to respect the important *57,150 support zone*, which has acted as a swing base multiple times.
The index also reclaimed its 200 DMA and closed Friday at the highest point of the week, indicating renewed buying interest on dips.
📌 *Levels to Watch*
• Support: *57,150*
• Upside targets: *58,300 / 58,600*
As long as 57,150 holds, the structure remains supportive for a move towards the higher levels.
---
📊 *FII & DII ACTIVITY*
*Cash Market*
• FII: *₹542 Cr Net Sell*
• DII: *₹2,124 Cr Net Buy*
*Month-to-Date*
• FII: *₹2,514 Cr Net Buy*
• DII: *₹34,369 Cr Net Buy*
Domestic institutional buying continues to provide support, while foreign flows remain selective.
---
📈 *DERIVATIVES CUES*
FIIs added around *2,000 long contracts* in index futures during the previous session.
However, their overall positioning remains significant, with a net position of approximately *2.07 lakh short contracts*.
📌 *Key Option Levels*
• *24,000* — Important support
• *24,500* — Key resistance
Tomorrow's expiry could bring increased activity around these levels.
---
⚠️ *KEY EVENTS THIS WEEK*
• *Tuesday:* NSE Nifty and all NSE stock derivatives expiry
• *Thursday:* BSE Sensex weekly expiry
With monthly expiry approaching, expect volatility to increase if Nifty moves outside its recent tight range.
---
🔍 *INTERESTING OBSERVATION: FPI MONEY IS ROTATING, NOT DISAPPEARING*
The first half of August shows a clear divergence in FPI sector flows.
🟢 *Highest FPI Inflows*
• Financial Services: *₹6,535 Cr*
• Automobile & Auto Components: *₹4,405 Cr*
• Consumer Services: *₹3,398 Cr*
• Healthcare: *₹2,910 Cr*
• Information Technology: *₹2,530 Cr*
🔴 *Highest FPI Outflows*
• Telecommunication: *₹3,322 Cr*
• Capital Goods: *₹1,556 Cr*
• Power: *₹1,164 Cr*
• Realty: *₹1,014 Cr*
The key takeaway is important:
*Foreign investors are not completely moving away from Indian equities. Money is rotating selectively between sectors.*
This makes *sector selection increasingly important* in the current market environment.
---
📰 *SECTOR & STOCK UPDATES*
*Mobile Manufacturing 📱*
The government has announced a proposed *₹63,000 crore scheme* to support mobile manufacturing, with focus extending beyond assembly towards local production, brands and components.
• Samsung and Apple appear better positioned.
• Dixon may benefit, although the upside could be lower than market expectations.
• More details are expected in the coming weeks.
• Until further clarity, Dixon may remain range-bound or see some pressure.
---
*BFSI 🏦*
Banks reported a strong Q1, supported by healthy loan growth and lower credit costs.
Earnings grew approximately:
• *18% YoY*
• *6% QoQ*
Deposit growth is also improving, which could support the sector going forward.
Stocks highlighted include:
• ICICI Bank
• RBL Bank
• Federal Bank
• Ujjivan
• PNB Housing
• L&T Finance
• Shriram Finance
• CreditAccess
Axis Bank and RBL Bank are also among the names to watch.
---
*IT 💻*
AI-led cost optimisation remains a key theme.
The sector continues to see opportunities from AI adoption, although competitive intensity means execution will remain important.
The current preference remains towards *mid-cap IT companies over large-cap IT*.
---
*STOCK-SPECIFIC UPDATES*
*Hexaware*
50
