📈 DAILY MARKET UPDATE
📅 Date – 17 August 2026
1️⃣ VERY IMPORTANT NEWS
• 🔴 Middle East tensions escalating: US–Iran tensions remain elevated; fresh severe US sanctions on Iran are expected this week, keeping crude oil under pressure.
• 🛢 Crude oil rises sharply: Brent around $89 and WTI around $81.5, creating a major negative macro factor for India.
• 🇮🇳 India reduces windfall tax: Petrol windfall tax reduced to zero, diesel tax to ₹24/litre and aviation fuel tax to ₹19.5/litre — positive for Reliance.
• ✈️ Reliance–Rolls-Royce partnership: Partnership for jet-engine manufacturing is a positive stock-specific trigger for Reliance.
• 🏦 FCNR deposits rise: Total FCNR deposits reached $52.3 billion as of 13 Aug — supportive for Indian banks.
• 💰 FII/DII buying: Despite the weak market, FIIs and DIIs remained net buyers on Friday.
🌍 GLOBAL MARKET
✔️ US Markets:
• S&P 500: -0.2%
• Nasdaq: -0.3%
• Dow Jones: -0.2%
• US futures remain mildly negative.
✔️ Asia Market Update:
• Hong Kong Hang Seng: +0.94%
• Japan Nikkei: -0.29%
• Shanghai Composite: -0.01%
• Asian markets mixed amid elevated crude and Middle East concerns.
✔️ Gift Nifty Signal:
• Around 24,420, indicating a mildly negative/flat opening.
• Higher crude and fresh Iran sanctions could increase downside pressure.
✔️ Crude Oil:
• Brent: around $89/barrel
• WTI: around $81.5/barrel
• Crude remains the biggest negative factor for Indian equities.
✔️ Dollar Index:
• Strong dollar environment remains a concern for emerging markets.
✔️ Volatility (VIX US):
• Global risk sentiment remains cautious due to geopolitical uncertainty.
🇮🇳 INDIAN MARKET OVERVIEW
✔️ Sector Trend:
• 🔴 Oil-sensitive sectors under pressure.
• 🟢 Banks may get support from positive ADRs and higher FCNR deposits.
• 🟢 Reliance positive bias due to windfall-tax reduction and Rolls-Royce partnership.
• 🔴 IT ADRs indicate negative arbitrage.
✔️ Market Sentiment / Trend:
• Nifty declined for the 4th consecutive session.
• Friday close: around 24,366.
• Daily candle: Doji, indicating indecision.
• Broader trend remains constructive above major moving averages, but short-term momentum is weakening.
✔️ Volatility (India VIX):
• 11.31, down around 1%.
💰 FII & DII DATA
✔️ FIIs:
• Net buyers of around ₹58 crore in cash market on Friday.
• Monthly net FII inflow: around ₹15,778 crore.
• However, FII futures positioning remains strongly bearish.
✔️ DIIs:
• Net buyers of around ₹350 crore.
📊 COMMODITIES UPDATE
✔️ Crude:
• Brent: ~$89
• WTI: ~$81.5
• Strongly negative macro factor.
✔️ Gold:
• Safe-haven demand remains supported by geopolitical tensions.
✔️ Silver:
• Remains sensitive to global risk sentiment and dollar movement.
📊 OPTIONS DATA (OI BUILD-UP)
✔️ Call OI:
• Maximum Call OI: 24,500
• Next major Call OI: 24,800
• Strong resistance zone: 24,500–24,800
✔️ Put OI:
• Maximum Put OI: 24,000
• Next major Put OI: 24,300
• Immediate support zone: 24,300–24,000
✔️ PCR:
• Nifty PCR increased from 0.92 → 0.98.
• Indicates increased put-side positioning, but overall sentiment remains cautious.
📈 NIFTY LEVELS
✔️ Trend:
• Sideways to mildly bearish below 24,500.
• Bullish only after a decisive breakout above 24,500.
• Immediate Support: 24,300
• Major Support: 24,200
• Immediate Resistance: 24,500
• Strong Resistance: 24,600–24,800
📌 Below 24,200: downside can extend towards 24,050–24,000.
📌 Above 24,500: upside can open towards 24,600.
📉 BANK NIFTY LEVELS
✔️ Trend:
• Sideways to mildly bearish until strong resistance is reclaimed.
• Immediate Support: 54,900–55,000
• Major Support: 54,500
• Immediate Resistance: 55,500
• Strong Resistance: 56,000
📌 Bank Nifty futures showed fresh short buildup, but positive banking ADRs may provide some support.
📊 STOCKS / SECTORS IN NEWS
• 🟢 Reliance Industries – Windfall-tax reduction + Rolls-Royce jet-engine partnership.
• 🟢 Banking stocks – Positive ADRs + higher FCNR deposits.
• 🔴 IT stocks – Negative ADR indication.
• 🔴 Oil-sensitive sectors – Higher crude remains a concern.
📊 STOCK SETUPS TO WATCH