Nifty & Sensex Today Analysis – 17 Aug 2026: Key Levels to Watch

The Indian equity benchmarks opened on a firm footing today, with the Nifty 50 reclaiming the 24,350 mark in early morning trade supported by broad-based buying across financial and IT heavyweights. Domestic institutional investors (DIIs) remained net buyers, counteracting global bond yield fluctuations. Nifty 50 Price Action & Trend Structure On the daily timeframe, Nifty has formed a bullish continuation pattern after consolidating above its 20-day Exponential Moving Average (20-EMA at 24,180). The Relative Strength Index (RSI 14) stands at 61.4, indicating healthy upside momentum without entering overbought territory. Immediate Resistance: 24,550 — A decisive 15-minute close above this zone opens the door towards 24,700 all-time highs. Immediate Support: 24,200 followed by 24,150 (previous breakout pivot). Key Pivot Point: 24,320 acting as the intraday base. Bank Nifty Setup & Options OI Data Bank Nifty showed relative outperformance, crossing 51,400 with aggressive call unw...