Nifty has broken key support at 24,200 and is expected to revisit 23,800, indicating a bearish market outlook.
Source Post
SUPPORT BROKEN? Post Market Report 18-Aug-26
Aug 18, 2026
The Nifty has fallen for 11 consecutive trading sessions, closing below 24,200 on weekly expiry, contrary to expectations. Despite significant institutional buying (FIIs and DIIs), the market continues to decline, with sectors like PSU banks, IT, and FMCG underperforming. Reliance Industries showed some recovery, and the auto index ended in green, but overall market sentiment is negative, with the creator suggesting the market may not even provide FD returns over the next five years.
Linked Mentions
Tickers discussed in this post
IT stocks, including Infosys, started falling after news about the Tata chairman's tenure, and Infosys ADR was also down.
ICICI Bank was down today, and its ADR also fell in the US market.
HDFC Bank is trading just 1 rupee above its 52-week low, indicating a very weak market.