Stock Market Outlook August 12: Sensex, Nifty Show Bullish Signs; Support at 24,150, Resistance at 24,600

Indian stock markets are expected to begin on a muted note today, August 12, 2025, as suggested by the Gift Nifty trends. The Gift Nifty was seen trading around the 24,591 level, which is about 28 points lower than the previous close of Nifty futures. This indicates a slightly cautious start for the benchmark indices despite a strong performance in the last session.

Stock Market Outlook Today, 12 August

On August 11, Indian indices ended with notable gains. The Sensex rose by 746.29 points, or 0.93%, to close at 80,604.08. The Nifty 50 also surged 221.75 points, or 0.91%, ending the day at 24,585.05. Market breadth was relatively healthy, with 2,136 stocks advancing, 1,867 declining, and 161 remaining unchanged.

Global cues, however, remain positive, especially in Asian markets, after the United States and China agreed to extend their tariff truce for another 90 days. This move has boosted investor sentiment across the region and could offer support to domestic equities during today's session.

Sensex Prediction Today

From a technical perspective, the Sensex has shown signs of reversal. After a prolonged correction, it formed a bullish candle on the daily charts, indicating a possible continuation of the uptrend. This suggests that investors may see further gains in the coming sessions if the momentum holds.

Nifty Prediction Today: Technical Outlook

Similarly, the Nifty 50 displayed bullish signals. It formed a long green candle, resembling a Tweezer Bottom pattern on daily charts-a sign of potential trend reversal. A Double Bottom was also observed on hourly charts. However, both patterns would require consistent buying interest to confirm the bullish trend.

Is Nifty Set to Hit 26,000?

Looking at the derivatives segment, Nifty's option data provides further insight into market positioning. On the Call side, the highest open interest was observed at the 25,000 strike, with 1.09 crore contracts. This level may act as a significant resistance in the near term. It was followed by notable interest at the 24,600 and 24,800 strikes.

Maximum Call writing was recorded at the 25,050 strike, where 5.57 lakh new contracts were added. Additional writing occurred at the 25,100 and 24,850 levels. Meanwhile, the highest Call unwinding was seen at the 24,500 strike, shedding 57.46 lakh contracts, followed by some unwinding at 24,600 and 24,400.

On the Put side, strong support is building around the 24,400 strike, which holds the maximum open interest with 96.03 lakh contracts. It is followed closely by the 24,500 and 24,000 strikes. Put writing was also heaviest at the 24,400 strike, with 57.13 lakh contracts added, signaling growing confidence in the support around that level.

According to Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, the zone between 24,200 and 24,150 is critical support for Nifty. This range marks the confluence of the 200-day exponential moving average (EMA) and the 38.2% Fibonacci retracement level of the previous upward rally between 21,743 and 25,669. If Nifty falls below 24,150, it could decline further to 23,750.

On the upside, resistance is likely around the 24,570 to 24,600 zone, which aligns with the 100-day EMA. This area is expected to act as a hurdle for any immediate upward movement unless strong momentum pushes the index through.

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