After six straight weeks of losses, the Nifty 50 has finally shown signs of life. On Thursday, August 14, the index staged a mild but significant rebound, closing at 24,631.30 up 11.95 points, or 0.05 percent. Importantly, it reclaimed its 100-day moving average (100-DMA) of 24,560, a key technical indicator watched by traders. With the weekly chart now showing a bullish candle, the market’s tone appears to be shifting. However, caution remains in the air.
Bulls Back in Control However for How Long?
The Nifty’s ability to reclaim and stay above the 100-DMA is encouraging. Technical analysts observed a bullish engulfing pattern on the daily chart, suggesting a potential shift from bearish to bullish momentum. Market expert Nimesh Thaker pointed out that the last few trading sessions have shown recovery signs from lower levels. If this momentum continues, we could see a meaningful trend reversal in the coming days. The immediate support is now placed at the 100-EMA level near 24,550.
Watch for Resistance: Key Levels to Track
While support has firmed up, resistance looms near the 21-DMA at 24,770. A decisive breakout above this level could trigger a rally towards the psychological barrier of 25,000. The Relative Strength Index (RSI) has moved up to 44, indicating improving momentum. This suggests the downside risk is currently limited, though global events such as the upcoming Trump-Putin meeting could sway investor sentiment quickly.
FIIs Sell, DIIs Buy, Liquidity War Continues
In terms of institutional activity, FIIs sold Rs 1,926.76 crore worth of equities, while DIIs stepped in as net buyers with RS 3,895.68 crore. This tug-of-war highlights the market’s uncertainty. For now, experts believe the valuation has turned reasonable, and individual stocks are beginning to look attractive again. Next week’s move could decide if this rebound is for real—or just a temporary pause in a broader downtrend.
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Karan Singh Rathod is a dedicated sports journalist known for his sharp attention to detail and flair for storytelling. With over a year of experience in writing and editorial work, he blends thorough research with compelling narratives to deliver engaging sports content. A passionate follower of football and cricket, he starts his mornings with a newspaper to stay updated with sports, fashion, and current affairs. Outside of journalism, Karan enjoys traveling and discovering new destinations.
