Archive · 28 Aug 2026
Indian Stocks Expected Flat-to-Negative Amid Weak Global Cues
Indian shares were expected to start slightly lower or remain nearly unchanged on 28 August.
Gift Nifty also pointed to a muted opening.
The Sensex and Nifty 50 had both fallen in the previous trading session.
Analysts said the Nifty was moving unevenly with a weak bias.
They were watching the 24,000 level because a fall below it could cause more weakness.
The Sensex could weaken toward 76,700 or 76,500 if it stays below 77,000.
Bank Nifty had been moving sideways for many sessions.
A rise above 58,000 or a fall below 57,000 could end that sideways movement.
Traders were also monitoring resistance levels where selling might return.
Sensex and Nifty 50 were expected to open flat-to-negative on 28 August, with Gift Nifty indicating a muted start.
Sensex fell 539.35 points to 76,933.59, while Nifty 50 declined 116.90 points to 24,090.85 in the previous session.
Analysts saw Nifty support around 24,050–24,000, with a sustained break below 24,000 potentially opening further declines.
Sensex support was placed near 76,700–76,500, while resistance was identified at 77,300–77,500.
Bank Nifty remained in a 57,001–58,077 consolidation range, with 57,000 support and 58,000 resistance viewed as key breakout levels.
- Who
- The Sensex, Nifty 50 and Bank Nifty, along with analysts from Motilal Oswal Financial Services, HDFC Securities, Angel One and SBI Securities.
- What
- Indian benchmark indices were expected to open flat-to-negative and trade with a weak or range-bound bias.
- When
- 28 August, following losses in the previous session on 27 August.
- Where
- Indian equity markets.
- Why
- Weak global cues, recent selling pressure, bearish technical patterns and resistance at higher levels pointed to a cautious outlook.
Further Weakness Risks
Consolidation and Recovery Potential
Nifty 50 direction
Further Weakness Risks
Nagaraj Shetti said a sustained move below 24,000 could trigger further weakness, while Hitesh Rathi warned that a break below 24,075 could push the index toward 23,650–23,600.
Consolidation and Recovery Potential
A move above 24,200–24,250 could provide initial strength, although analysts identified 24,340–24,400 and 24,380 as stronger resistance areas.
Sensex outlook
Further Weakness Risks
Chandan Taparia said the Sensex could fall toward 76,700 and 76,500 while it remains below 77,000, with selling pressure controlling the session.
Consolidation and Recovery Potential
A sustained move above 77,300 and then 77,500 could improve the immediate outlook, while the index’s support near 76,700–76,500 remained relevant.
Bank Nifty direction
Further Weakness Risks
A decisive breakdown below 57,000 could end the index’s consolidation and trigger a meaningful downward move.
Consolidation and Recovery Potential
Holding above 57,000 could allow consolidation to continue, while a breakout above 58,000 could trigger a meaningful upward move.
- Expected opening
- Flat-to-negative, with Gift Nifty indicating a muted start amid weak global cues.
- Gift Nifty
- Around 24,266.5, or 15.4 points below the previous Nifty futures close.
- Previous Sensex close
- 76,933.59, down 539.35 points or 0.70%.
- Previous Nifty 50 close
- 24,090.85, down 116.90 points or 0.48%.
- Nifty 50 levels
- Support at 24,050–24,000, with resistance at 24,200–24,250 and a stronger hurdle at 24,340–24,400.
- Sensex levels
- Support at 76,700–76,500; resistance at 77,300 and 77,500.
- Bank Nifty levels
- Support at 57,100–57,000 and resistance at 57,900–58,000; a break above 58,000 or below 57,000 could trigger a directional move.
