Good Morning @all ๐
๐ *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 *24,000โ24,200 support zone*.
The broader structure remains constructive as long as this zone holds.
๐ *Key Nifty Levels*
โข Support: *24,000โ24,200*
โข Immediate resistance: *24,500*
โข Upside level to watch: *24,750* โ around the 200 DMA
โข 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*.
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๐ฆ *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.
๐ *Levels to Watch*
โข Support: *57,150*
โข Upside targets: *58,300 / 58,600*
As long as 57,150 holds, the structure remains supportive for a move towards the higher levels.
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๐ *FII & DII ACTIVITY*
*Cash Market*
โข FII: *โน542 Cr Net Sell*
โข DII: *โน2,124 Cr Net Buy*
*Month-to-Date*
โข FII: *โน2,514 Cr Net Buy*
โข DII: *โน34,369 Cr Net Buy*
Domestic institutional buying continues to provide support, while foreign flows remain selective.
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๐ *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*.
๐ *Key Option Levels*
โข *24,000* โ Important support
โข *24,500* โ Key resistance
Tomorrow's expiry could bring increased activity around these levels.
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โ ๏ธ *KEY EVENTS THIS WEEK*
โข *Tuesday:* NSE Nifty and all NSE stock derivatives expiry
โข *Thursday:* BSE Sensex weekly expiry
With monthly expiry approaching, expect volatility to increase if Nifty moves outside its recent tight range.
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๐ *INTERESTING OBSERVATION: FPI MONEY IS ROTATING, NOT DISAPPEARING*
The first half of August shows a clear divergence in FPI sector flows.
๐ข *Highest FPI Inflows*
โข Financial Services: *โน6,535 Cr*
โข Automobile & Auto Components: *โน4,405 Cr*
โข Consumer Services: *โน3,398 Cr*
โข Healthcare: *โน2,910 Cr*
โข Information Technology: *โน2,530 Cr*
๐ด *Highest FPI Outflows*
โข Telecommunication: *โน3,322 Cr*
โข Capital Goods: *โน1,556 Cr*
โข Power: *โน1,164 Cr*
โข Realty: *โน1,014 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.
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๐ฐ *SECTOR & STOCK UPDATES*
*Mobile Manufacturing ๐ฑ*
The government has announced a proposed *โน63,000 crore scheme* to support mobile manufacturing, with focus extending beyond assembly towards local production, brands and components.
โข Samsung and Apple appear better positioned.
โข Dixon may benefit, although the upside could be lower than market expectations.
โข More details are expected in the coming weeks.
โข Until further clarity, Dixon may remain range-bound or see some pressure.
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*BFSI ๐ฆ*
Banks reported a strong Q1, supported by healthy loan growth and lower credit costs.
Earnings grew approximately:
โข *18% YoY*
โข *6% QoQ*
Deposit growth is also improving, which could support the sector going forward.
Stocks highlighted include:
โข ICICI Bank
โข RBL Bank
โข Federal Bank
โข Ujjivan
โข PNB Housing
โข L&T Finance
โข Shriram Finance
โข CreditAccess
Axis Bank and RBL Bank are also among the names to watch.
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*IT ๐ป*
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*.
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*STOCK-SPECIFIC UPDATES*
*Hexaware*
August 24, 2026 17
