Nifty 50 Dips 0.14% Amid Renewed Selling Pressure
Nifty 50 and Bank Nifty charts displaying a downward trend.
Key Highlights
India’s Nifty 50 fell 0.14% to 24,219 on August 24, forming a bearish candle. Bank Nifty also declined amid increased volatility and selling pressure at resistance levels.
The concluded Monday, August 24, 2026, down 0.14%, settling at 24,219 after opening positively. The index formed a bearish candle, indicating renewed selling pressure at elevated levels following an intraday high of 24,313.
Key Market Figures
- Nifty 50 Close: 24,219
- Nifty 50 Decline: 0.14%
- India VIX Increase: Approximately 3%
- Bank Nifty Close: 57,526
- Bank Nifty Decline: 0.41%
Selling pressure on the Nifty 50 was observed precisely within the 24,300-24,400 supply zone, an area previously identified as significant resistance. Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, confirmed this activity.
Nifty Levels to Watch
- Nearest Support: 24,000
- Secondary Support: 23,890
- Resistance Levels: 24,300 and 24,400
Market volatility, as measured by the India VIX, saw an increase of approximately 3%, suggesting a heightened demand for downside protection. Concurrently, the Bank Nifty also experienced a decline.
The Bank Nifty opened with a gap-up but failed to sustain its gains, reversing quickly before a late recovery. It settled at 57,526, down 0.41%, forming a bearish candle with a noticeable lower wick indicative of buying interest at lower levels.
Bank Nifty Support & Resistance
- Immediate Support Zone: 57,100-57,000
- Potential Further Declines: 56,600 and 56,200
- Resistance Zone: 57,900-58,000
Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, noted the Nifty’s bearish candle showed some recovery from earlier losses. For Bank Nifty, a decisive breakout above 58,000 could improve its near-term outlook, although its broader setup remains sideways.