Sensex, Nifty to open marginally higher; key levels to track on August 12

Foreign Institutional Investors stood as net sellers of equity shares worth Rs 1,202 crore. On the other hand, the market was buoyed by continued positive interest from Domestic Institutional Investors

Benchmark indices Nifty and Sensex are set for a positive start on Tuesday, August 12, building on the momentum from Monday’s strong opening to the week. Around 8 am, GIFT Nifty was up 26 points, or 0.1 percent, at 24,597, signalling a steady opening for domestic equities.

Bulls staged a strong comeback on August 11, with benchmark indices Sensex and Nifty climbing nearly a percent each, driven by robust buying in PSU banking, realty, and auto stocks. The rebound came as investors shook off last week’s tariff-induced volatility, which had pushed the Nifty to a three-month low and resulted in the index’s longest weekly losing streak in five years.

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Foreign Institutional Investors stood as net sellers of equity shares worth Rs 1,202 crore. On the other hand, the market was buoyed by continued positive interest from Domestic Institutional Investors (DIIs) as they were net buyers of equity shares worth Rs 5,972 crore.

Here are the key levels to watch out for in today's session

Nifty, after slipping to a low of 24,350 in the previous session, staged a strong rebound to close near the 24,600 mark, easing sentiment to some extent. A decisive move above 24,630 would be needed to strengthen the bias, while immediate support lies at 24,300. Sustaining this level could pave the way for further gains in the coming sessions. Bank Nifty also recovered, taking support at its 100-EMA level of 54,950. The index faces stiff resistance around 56,000, with crucial support at 54,900. For the day, Nifty is expected to trade in the 24,400–24,800 range, while Bank Nifty’s range is seen between 54,800 and 56,200.

The fear gauge, India VIX, extended its upward journey for another session, climbing to an intraday high of 12.73 before closing at 12.22, up 1.54 percent. The index sustained above short-term moving averages, signalling caution for bulls.

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The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.03 on August 11, compared to 0.66 in the previous session. The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market.

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