The Indian stock market closed lower on Friday, August 14, ending their two-week winning run amid subdued investor sentiment. The Sensex fell 71 points, or 0.09%, to settle at 78,009.25, while the Nifty 50 declined 30 points, or 0.12%, to close at 24,366. According to Mint, the benchmark index experienced a range-bound yet volatile session, with price action oscillating within a narrow band and lacking sustained directional momentum. The Gift Nifty was trading around 24,400, indicating a 12-point premium over the previous close of Nifty futures, suggesting a muted start for domestic equities. Investor sentiment remained subdued amid uncertainty over a potential US-Iran peace agreement, fluctuations in crude oil prices, rising bond yields, and growing concerns about a possible resurgence in inflation.
According to Sumeet Bagadia, Executive Director at Choice Broking, the Nifty 50 ended the session at 24,366, down 29.85 points (-0.12%), after opening at 24,361.90, while touching an intraday high of 24,405.20 and a low of 24,296.80. The index experienced a range-bound yet volatile session, with price action oscillating within a narrow band and lacking sustained directional momentum. The daily candle formed a bullish Doji, reflecting indecisiveness between buyers and sellers. Technically, Nifty closed marginally below its 200-day EMA, indicating resistance from the long-term moving average, while the RSI at 52.21 points towards a neutral momentum setup. India VIX eased to 11.30, while PCR stood at 1.00, indicating a balanced market undertone. Sector-wise, Media, Consumer Durables and IT Services were among the stronger performers, whereas Financial Services, Pharma and Financial Services-related sectors remained under pressure. Bagadia noted that "As long as the index sustains above 24,200–24,250, the short-term trend is expected to remain sideways to positive, with buying interest likely to emerge on dips. However, a decisive break below 24,200–24,250 could increase selling pressure and drag the index towards 24,150–24,000." Immediate support is placed at 24,200–24,250, while 24,500–24,550 remains the key resistance zone, with the expected trading range for the next session being 24,200–24,550.
The Bank Nifty ended the session on a weak note, closing at 57,491.10, down 144.10 points (-0.25%) after opening at 57,589, with an intraday high of 57,681.45 and low of 57,380.45. The index remained volatile during the session, with early weakness followed by a recovery attempt in the second half, but selling pressure resurfaced towards the close. The daily chart formed a bearish red candle and closed below the 20-day EMA, indicating some deterioration in the short-term setup. The 5-minute chart also reflected profit booking from the higher levels, keeping the intraday structure cautious. Bagadia noted that Bank Nifty is likely to maintain a Sideways bias unless a decisive breakout occurs from the broader trading zone. "Immediate support is placed at 57,000–57,200, while 57,700–58,000 remains the key resistance area. Sustained strength above 58,000 could improve the momentum and open the way for further upside, whereas a break below 57,000 may intensify selling pressure. The expected trading range for the next session is 57,000–58,000."
On the occasion of 80th Independence Day, Sumeet Bagadia has recommended three stocks to buy for the current trading session: Larsen & Toubro, CG Power, and DLF. Larsen & Toubro is recommended at ₹4,057 with a target of ₹4,350 and stop loss at ₹3,883, showing gradual bullish momentum after reclaiming all key moving averages with the 20-day EMA crossing above the 50-day & 100-day EMA. CG Power is suggested at ₹890 with a target of ₹955 and stop loss at ₹850, having successfully reclaimed its short-term moving averages and trading above the 20, 50, 100 and 200-day EMAs. DLF is recommended at ₹665 with a target of ₹720 and stop loss at ₹630, showing encouraging signs of a fresh breakout after consolidating within a symmetrical triangle pattern over the past several weeks. As reported by Mint, Bagadia also recommends five breakout shares to buy on Tuesday, August 11: Suven Life Sciences, Poly Medicure, Raghav Productivity Enhancers, Steel Strips Wheels, and Brigade Enterprises.
Despite the latest decline, investor focus remains firmly on the evolving situation in the Middle East. Reports suggest Iran is moving closer to an agreement with Oman on the reopening of the Strait of Hormuz, although negotiations remain conditional, with Tehran reportedly seeking US compensation and sanctions relief as part of any final arrangement. Until a formal agreement is reached, geopolitical uncertainty is likely to keep investors cautious and limit aggressive risk-taking. WTI crude oil is holding in the $78–79 per barrel range after rebounding from last week's lows, suggesting that markets continue to price in a residual geopolitical risk premium. For India, sustained stability in crude prices will remain critical for the inflation outlook, the rupee, and corporate input costs. Asian markets are trading higher in early trade, with Japan's Nikkei 225 and South Korea's Kospi each advancing more than 1%, providing a constructive backdrop for regional equities. Ponmudi R noted that Indian equity markets are expected to open on a steady note, supported by firm regional cues, although investors are likely to remain selective as geopolitical developments continue to shape risk sentiment.
