Thursday’s market session was dominated by bearish sentiment across the Indian indices, continuing a downward trend for the second straight day. The weak opening set the tone early, as both the Nifty 50 and Sensex slid below critical short- and medium-term moving averages, signalling a loss of near-term momentum. Selling pressure was widespread, especially in heavyweight sectors like banking and information technology. The sharp decline in the Bank Nifty and underperformance in frontline IT stocks like HCL Tech and Infosys highlighted the growing unease among participants. Momentum indicators further confirmed the waning strength, as they moved comfortably away from overbought zones, indicating increasing caution.
The risk-off mood was fuelled by external trade tensions, particularly the imposition of a steep tariff on India, which has already started impacting the market. Despite this domestic gloom, some pockets managed to outperform, notably consumer durables, which drew buying interest to resilient demand expectations. Stocks such as Kalyan Jewellers and Whirlpool posted modest gains, reflecting sector-specific optimism. Meanwhile, broader global cues were mixed. While Asian peers like Japan and China saw gains, suggesting some regional economic optimism, Hong Kong’s market bucked the trend with losses, and U.S. futures pointed to a cautiously positive opening. Overall, Indian markets reflected a defensive, uncertain stance with clear pressure from macroeconomic and geopolitical factors.
In this overview, we will analyse the key technical levels and trend directions for Nifty and BSE Sensex to monitor in the upcoming trading sessions. All the charts mentioned below are based on the 5-minute timeframe.
Nifty 50
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
The Nifty 50 Index opened on a negative note at 24,695.80 on Thursday, down by 16.25 points from Tuesday’s closing of 24,712.05. The Nifty Index, which began the morning session on a bearish note, was subsequently dragged down to the 24,500 mark and traded below its opening level at 24,586. During the morning session, the index traded below all four EMAs of 20/50/100/200 in the 15-minute time frame and was trading between 24,500 and 24,700. In the afternoon session, the index further pulled down from the 24,580 level to the 24,530 level in the afternoon; the Nifty Index held below the 24,550 level, trading in red. Overall, the Thursday session saw the Nifty 50 in a bearish state. During the afternoon session, the Nifty 50 traded below all four EMAs of 20/50/100/200 in the 15-minute time frame.
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Nifty’s immediate resistance levels are R1 (24,672), R2 (24,849), and R3 (25,021), while immediate support levels are S1 (24,482), S2 (24,346), and S3 (24,230).
The Nifty index had reached a day’s high at 24,702.65, traded in red below the 24,550 level, and saw a day’s low at 24,481.60. Finally, it had closed at 24,500.90, losing 211.15 points, or 0.85%. The Relative Strength Index (RSI) stood at 40.79 (below the overbought zone of 70 but nearing the oversold zone in the daily time frame), and the Nifty 50 closed below the 20/50/100 EMAs but remained above the 200 EMAs in the daily time frame.
Bank Nifty
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
The Bank Nifty Index started the session on a negative note at 54,256.00 on Thursday, down by 194 points from Tuesday’s closing of 54,450.45. The index began the morning session on a negative note and dragged down to the 53,900 mark and traded below its opening level at 54,093. The index was below all four EMAs of 20/50/100/200 during the 15-minute time frame and was trading between 53,900 and 54,400 levels during the morning session. The Bank Nifty index pulled further down during the afternoon session, plunging to the 53,750 mark and trading in the red. During the afternoon session, Bank Nifty closed below all four EMAs of 20/50/100/200 in the 15-minute time frame.
Bank Nifty immediate resistance levels are R1 (54,330), R2 (55,074), and R3 (55,575), while immediate support levels are S1 (53,766), S2 (53,515), and S3 (53,147).
The Bank Nifty index had peaked at 54,382.25 and made a day’s low at 53,768.45. Finally, it had closed in red at 53,820.35, breaking below the 53,900 level, losing 630.10 points or 1.16%. The Relative Strength Index (RSI) stood at 28.58 and entered the oversold zone in the daily time frame, and Bank Nifty closed below the 20/50/100 EMAs but remained above the 200 EMAs in the daily time frame.
Sensex
(In this analysis, we have used 20/50/100/200 EMAs, where 20 EMA (Red), 50 EMA (Orange), 100 EMA (Light Blue), and 200 EMA (Dark Blue)).
The BSE Sensex Index opened on a negative note at 80,754.66 on Thursday, down by 21.05 points from Tuesday’s closing of 80,786.54. The Index was more volatile in the morning session; after a bearish start, the Index was dragged down to the 80,100 mark. The Index was trading below its opening level in the morning session at the 80,333 level and held below the 80,400 level. The index was below all four EMAs of 20/50/100/20 EMA in the 15-minute time frame and was trading between 80,100 and 80,800 in the morning session. The Sensex Index further fell down to the 80,000 mark in the afternoon session but held above 80,050, maintaining its overall negative trend and was trading below all four EMAs of the 20/50/100/200 EMA in the 15-minute time frame.
BSE Sensex immediate resistance levels are R1 (80,605), R2 (81,227), and R3 (81,800), while immediate support levels are S1 (80,013), S2 (79,364), and S3 (78,749).
The BSE Sensex index had peaked at 80,775.71 and made a day’s low at 80,013.02. Finally, it had closed at 80,080.57 in red, losing 705.97 points, or 0.87%. The Relative Strength Index (RSI) stood at 39.63 (below the overbought zone of 70 but nearing the oversold zone in the daily time frame), and the BSE Sensex closed below the 20/50/100 EMA but remained above the 200 EMA in the daily time frame.
India VIX
The India VIX declined 0.015 points or 0.12%, from 12.19 to 12.18 during Thursday’s session. A decrease in the India VIX indicates calm and stable market conditions.
Market Recap on the 28th of August 2025
With broader market indices closing lower for two straight trading sessions, Thursday’s trading session got off to a negative start. Down -16.25 points from the previous level of 24,712.05, the Nifty 50 opened weakly at 24,695.80 and continued to decline, closing at 24,500.90. The index ended below the 20/50/100-day EMAs but remained above the 200-day EMAs on the daily chart, representing a fall of -211.15 points, or -0.85%. Mirroring the negative trend, the BSE Sensex saw a fall of -705.97 points, or -0.87%, from its opening price of 80,754.66 to its closing price of 80,080.57. With the Sensex RSI at 39.63 and the Nifty 50’s Relative Strength Index (RSI) at 40.79, both well below the overbought level of 70, momentum indicators also showed waning sentiment. The Bank Nifty Index also suffered, dropping 630.10 points, or -1.16%, to close at 53,820.35. The 50% tariffs placed on India, which went into force on August 27, 2025, are the negative sentiment for investors.
With the exception of a few gainers, most sectoral indices ended the day lower. The Top gainer, the Nifty Consumer Durable Index, closed at 38,534.60, up 214.25 points, or 0.56%. The largest gainer, Kalyan Jewellers India, increased by 2.36%. Other consumer durable firms, such as Bata India, increased by 1.35%, and Whirlpool of India Ltd., increased by 1.29%.
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The Nifty IT index fell the most during Thursday’s trading session among the top losers. The index closed at 35,488.75, down -574.45 points, or -1.59%. The Top loser, HCL Technologies Ltd., sank 2.88%, followed by TCS (2.5%) and Infosys Ltd. (2.4%). The Nifty Smallcap 50 Index was another significant underperformer, closing at 8,297.55, down 131.15 points, or -1.56%. Poonawalla Fincorp Ltd, CESC Ltd, and Multi Commodity Exchange are among the Top losers, with their shares falling as much as 5.10%.
On Thursday, on the other hand, Asian markets were mostly up. The Shanghai Composite Index ended the day at 3,843.60, up 43.25 points, or 1.13%. The KOSPI Index for South Korea ended the day at 3,196.32, up 9.16 points, or 0.29%. At 42,789.00, the Nikkei 225 Index of Japan likewise ended the day on a positive note, up 268.73 points, or 0.63%. In contrast, Hong Kong’s Hang Seng Index lost -187.76 points, or -0.75%, to close at 25,014.00. As of 4:52 p.m. IST, the US Dow Jones Futures were up 80.33 points, or 0.18%, at 45,645.56.
Trade Setup Summary
The Nifty 50 opened on a negative note at 24,695.80 on Thursday and ended the day in red below the 24,550 level at 24,500.90. A break below 24,482 could trigger further selling towards 24,346, while a break above 24,672 could trigger bullishness towards 24,849.
Bank Nifty started the session on a negative note at 54,256.00 and ended the session at 53,820.35 in red, below the 53,900 level. A break below 53,766, could trigger further selling towards 53,515, while a break above 54,330 could trigger bullishness towards 55,074.
Sensex opened on a negative note at 80,754.66 on Thursday and ended in the red at 80,080.57, breaking below the 80,100 level. A break below 80,013 could trigger further selling towards 79,364, while breaking the next resistance level of 80,605 could lead towards the 81,227 level.
Given the ongoing volatility and mixed sentiments, it’s advisable to avoid aggressive positions and wait for clear directional moves above resistance or below support. Traders should consider these key support and resistance levels when entering long or short positions following the price break from these critical levels. Additionally, traders can combine moving averages to identify more accurate entry and exit points.
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