Nifty IT Bears Retain Control Below 30,795; Recovery Above 30,850 Could Reach 31,100, While 30,350 Failure Risks Deeper Weakness - 22.08.2026

Aetram Research India - Nifty IT - Weekly Sector Outlook

Aetram Research India - Nifty IT - Weekly Sector Outlook

Nifty IT Bears Retain Control Below 30,795; Recovery Above 30,850 Could Reach 31,100, While 30,350 Failure Risks Deeper Weakness - 22.08.2026

Current Market Price: 30,532.25

Market Prediction

• Nifty IT remains under corrective pressure below the 30,795–30,847 moving-average barrier, although the 30,350 long-term average is providing support. RSI at 45.80 reflects hesitant momentum, while ADX at 20.91 shows limited trend strength. Recovery above 30,850 could improve sentiment; below 30,350, bearish pressure may intensify toward 30,100 and nearby supports.

Upcoming Events

• Positive Catalyst: Rupee depreciation could improve revenue-conversion expectations for export-oriented technology companies.
• Negative Catalyst: Weakness in US technology shares or cautious global client spending may restrict sector recovery.
• Positive/Negative Catalyst: Major outsourcing contracts, management commentary and global economic data could influence sector sentiment.

Major Support and Resistance

• Support: 30,350, 30,100, 29,800
• Resistance: 30,795, 30,850, 31,100

Volume Analysis

• Volume is subdued near 4.75 million, indicating cautious participation during the decline and subsequent stabilisation. Without meaningful expansion, recovery conviction remains limited; stronger activity above 30,850 or below 30,350 should clarify directional sector control.

Final Take Away

• Nifty IT is attempting to stabilise near 30,350, but price remains beneath key averages and momentum lacks authority. Reclaiming 30,850 would repair the structure; losing 30,350 could expose 30,100 and extend sector underperformance further near-term.

Next Week Prediction

• Next week, holding 30,350 could support a rebound toward 30,850–31,100; continued rejection below the moving-average cluster may keep technology shares defensively positioned amid selective participation.

Scenario-Based Outlook

• Bullish Scenario: Above 30,850, price may move toward the 31,100–31,400 zone.
• Bearish Scenario: Below 30,350, downside risk toward the 30,100–29,800 zone.
• Neutral Scenario: Between 30,350–30,850, consolidation likely.

Disclaimer: This research report is for informational purposes only. This is not an offer to buy or sell securities. Past performance is not indicative of future results. There is no guarantee of returns. Investments in securities are subject to market risks including loss of capital. Investors should consult their financial advisor before making any investment decisions.

Bank Nifty Bulls Regain Control Above 57,600; Strength Beyond 57,850 Could Target 58,100, While 57,450 Failure Revives Pressure - 22.08.2026

Aetram Research India - BANK NIFTY Weekly Sector Outlook

Aetram Research India - BankNifty - Weekly Sector Outlook

Bank Nifty Bulls Regain Control Above 57,600; Strength Beyond 57,850 Could Target 58,100, While 57,450 Failure Revives Pressure - 22.08.2026

Current Market Price: 57,761.95

Market Prediction

• Bank Nifty is recovering above its moving-average cluster, indicating improving short-term demand. RSI at 63.26 and positive MACD momentum favour bulls, while ADX at 26.23 shows strengthening directional conviction. Holding 57,600 keeps 57,850–58,100 accessible; however, rejection near resistance or weakness below 57,450 could revive consolidation pressure across banking counters nearby.

Upcoming Events

• Positive Catalyst: Continued liquidity support and institutional participation could reinforce demand across heavyweight banking shares.
• Negative Catalyst: Rising bond yields or renewed foreign outflows could restrict valuation-sensitive financial stocks.
• Positive/Negative Catalyst: RBI commentary, liquidity developments and banking-sector updates may influence directional sentiment.

Major Support and Resistance

• Support: 57,600, 57,450, 57,300
• Resistance: 57,850, 58,100, 58,300

Volume Analysis

• Volume remains moderate near 28.95 million, with recent recovery lacking aggressive participation. Momentum improvement is constructive, but stronger volume expansion above 57,850 would validate sustained demand; fading activity near resistance could encourage renewed profit booking.

Final Take Away

• Bank Nifty holds a constructive recovery bias above 57,600, supported by improving oscillators and price above key averages. Strength requires acceptance beyond 57,850, while a fall below 57,450 would weaken momentum and reopen lower supports.

Next Week Prediction

• Next week, sustained positioning above 57,600 could lift Bank Nifty toward 58,100–58,300; failure to protect 57,450 may return the index to consolidation near lower supports.

Scenario-Based Outlook

• Bullish Scenario: Above 57,850, price may move toward the 58,100–58,300 zone.
• Bearish Scenario: Below 57,450, downside risk toward the 57,300–57,000 zone.
• Neutral Scenario: Between 57,450–57,850, consolidation likely.

Disclaimer: This research report is for informational purposes only. This is not an offer to buy or sell securities. Past performance is not indicative of future results. There is no guarantee of returns. Investments in securities are subject to market risks including loss of capital. Investors should consult their financial advisor before making any investment decisions.