The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat-to-positive on Monday, 24 August, amid mixed global cues. The Gift Nifty trends also indicated a green start for the Indian benchmark index. The Gift Nifty was trading at around 24,352, a 60-point premium to the Nifty futures’ previous close.
The domestic equity indices ended flat in the previous session, with the benchmark Nifty 50 closing below 24,300 level. The Sensex gained 3.11 points, or 0.00%, to close at 77,540.83, while the Nifty 50 settled 20.15 points, or 0.08%, lower at 24,252.

Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today:Sensex PredictionSensex closed at 77,540.83, up by a mild 3.11 points (+0.00%) on Friday, 21 August. Hitesh Tailor, Technical Research Analyst at Choice Equity Broking, said the Sensex continues to trade around its 50-Day EMA but remains below the crucial 200-Day EMA, keeping the broader trend cautious.
The RSI at 49 indicates subdued momentum, with no clear directional strength at present. “Immediate support is placed in the 77,000–77,380 zone, while 77,720–78,000 remains the key resistance area,” Tailor said. Mayank Jain, Market Analyst at share.market by PhonePe, said the 76,300–76,500 zone remains a key technical support area for the index, reinforced by the 20-week SMA near 76,861.

“This zone acts as the primary demand base and will be crucial to sustaining the broader medium-term recovery,” he said. On the upside, Jain sees 78,400–78,600 as the key resistance zone. Buyers will need to absorb selling pressure near 78,000 and decisively break above 78,600 to challenge the 50-week SMA hurdle around 78,820, he added.
Nifty 50 PredictionPonmudi R, CEO of Enrich Money, said the Nifty 50 is likely to remain range-bound, with the index continuing to face selling pressure at higher levels. From a technical perspective, the 24,300 level remains an immediate resistance zone.

“A sustained breakout above 24,400 could strengthen recovery momentum and pave the way towards 24,500–24,600. Until the index decisively reclaims this zone, recovery attempts are likely to remain subdued,” he said. On the downside, Ponmudi sees the 24,200–24,100 zone as crucial support, while holding above 24,000 will be important to preserve the recent recovery structure.
A decisive break below this level could revive the short-term bearish bias and expose the index to lower support levels, he added. Meanwhile, Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, highlighted the 24,040–24,000 zone as a formidable support cluster.

The presence of a bullish gap in this range, along with a bullish ABCD pattern on the 1-minute 0.25% Renko charts and support from the 40-brick EMA on the 0.5% Renko charts, reinforces the significance of this level. According to Rathi, while 24,000–24,000 remains the immediate support band, the 23,750–23,700 zone is likely to provide a stronger cushion in the event of further declines.
Bank Nifty PredictionSudeep Shah, Head – Technical and Derivatives Research at SBI Securities, said Bank Nifty traded within a narrow 290-point range during the session, reflecting subdued volatility and indecision among market participants.“The index has formed small-bodied candles with wicks on either side in eight of the past 15 trading sessions, highlighting the lack of clear directional momentum.

A flat ADX further indicates subdued volatility and the absence of a strong trend,” Shah said. Going ahead, Shah sees the 58,200–58,300 zone as the immediate resistance for Bank Nifty. A sustained move above this range could extend the pullback towards 58,700, followed by 59,000 in the short term.
On the downside, the 57,300–57,200 zone is likely to act as immediate support, according to the SBI Securities expert. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.