📈 DAILY MARKET UPDATE
📅 Date – 28 August 2026
1️⃣ VERY IMPORTANT NEWS
• Banking Liquidity Concern: Indian banking-system surplus liquidity has risen sharply after FCNR-related dollar inflows. Market is worried RBI could introduce incremental CRR, although no such measure has been announced yet.
• HDFC Bank Leadership Uncertainty: Current CEO’s tenure ends on 26 October 2026. No clarity yet on extension/new CEO. HDFC Bank ADR fell over 3%, keeping pressure on banking stocks.
• Crude Oil Spike: Brent crude jumped nearly 2% to ~$89, after weaker hopes of an early US-Iran diplomatic breakthrough. $90+ crude would be a fresh negative for India.
• US Tech Rally: Nvidia's strong results/guidance triggered a major technology rally. Nasdaq gained 1.57%, supporting Indian IT sentiment.
• Jackson Hole: Fed officials have sounded increasingly hawkish. Fed Chair Powell's speech tonight is the major global event to watch.
🌍 GLOBAL MARKET
✔️ US Markets:
• Dow Jones: +0.20%
• S&P 500: +0.72%
• Nasdaq: +1.57%
• Nvidia rally supported the entire tech sector.
✔️ Asia Market Update:
• Nikkei: +0.60%
• TOPIX: +0.70%
• ASX 200: +0.30%
• Kospi: ~−1%
• Overall Asian markets: Mixed
✔️ Gift Nifty Signal:
• Around 24,210
• Indicates flat opening with a slight positive bias.
✔️ Crude Oil:
• Brent: ~$89
• WTI: ~$83.5
• $90 is the key psychological level.
🇮🇳 INDIAN MARKET OVERVIEW
✔️ Sector Trend:
• IT – Positive due to Nvidia/US tech rally.
• Banks – Negative/Cautious due to liquidity + incremental CRR concerns.
• Metals – Weak
• PSU Banks – Weak
✔️ Market Sentiment / Trend:
• Mixed to mildly bearish
• Nifty remains below short-term moving averages.
• Expiry-related abnormal volatility should reduce today.
• Banking weakness remains the major concern.
✔️ Volatility (India VIX):
• 11.07
• Up 4.8% → volatility increased.
💰 FII & DII DATA
✔️ FIIs:
• Cash market selling: ₹298 Cr
• After 3 days of buying, FIIs turned sellers.
• FII long-short ratio: 0.11 → strongly bearish positioning.
✔️ DIIs:
• Net buying: ~₹5,000 Cr
• Strong domestic institutional support.
📊 COMMODITIES UPDATE
✔️ Crude:
• Brent: ~$89
• WTI: ~$83.5
• Above $90 = additional negative for Indian equities
📊 OPTIONS DATA (OI BUILD-UP)
✔️ Call OI:
• Highest Call OI: 24,300
• Next: 24,500
• Fresh Call writing: 24,200 → 24,300
• Indicates strong resistance around 24,300.
✔️ Put OI:
• Highest Put OI: 24,000
• Next: 24,200
• Fresh Put addition around 23,800 → 24,000
• 24,000 is important support.
✔️ PCR:
• Nifty PCR declined from 1.17 → 0.91
• Bearish deterioration.
• Bank Nifty PCR: 1.18 → 1.16
📈 NIFTY LEVELS
✔️ Trend:
🔴 Bearish / Weak
• Immediate Support: 24,000
• Major Support: 23,800
• Immediate Resistance: 24,200–24,300
• Strong Resistance: 24,350–24,400
📌 Nifty needs a decisive close above 24,350–24,400 to improve bullish momentum.
📉 BANK NIFTY LEVELS
✔️ Trend:
🔴 Bearish / Cautious
• Immediate Support: 57,000
• Major Support: 56,500
• Immediate Resistance: 57,900–58,000
• Strong Resistance: 58,300+
📌 Banking liquidity concerns + HDFC Bank leadership uncertainty remain key negatives.
📊 STOCKS / SECTORS IN NEWS
• HDFC Bank – CEO succession uncertainty + ADR down >3%.
• Infosys – ADR gained nearly 2%; relative positive IT signal.
• Wipro / ICICI Bank – ADRs showed ~1% negative arbitrage.
• Indian IT sector – Positive global setup due to Nvidia-led tech rally.
• Banks / PSU Banks – Pressure due to surplus liquidity and CRR concerns.
📊 STOCK SETUPS TO WATCH
• IT stocks – Positive setup from strong US tech/Nvidia rally.
• HDFC Bank & Banking stocks – Watch for RBI clarification on incremental CRR.
• Nifty 24,000 zone – Breakdown could increase selling pressure.
🎯 EXPECTED TRADING RANGE TODAY
✔️ Nifty Range:
23,800 – 24,300
✔️ Bank Nifty Range:
57,000 – 58,000
📅 IMPORTANT DATA / EVENTS TODAY
• 🇺🇸 Jackson Hole Symposium – Fed Chair Powell speech
• 🇺🇸 Michigan Consumer Expectations & Inflation Expectations
• 🇮🇳 After market close: India July IIP data
• 🇮🇳 Bank deposit & credit growth data
🎯 INTRADAY TRADING VIEW
9August 28, 2026 1.7K
