Technical Analysis for 28th Aug 25:
Nifty, Bank Nifty & Sensex Predictions
Introduction : In today's Indian stock market session, the Nifty 50 closed at 24,712.05 after opening at 24,899.50, marking a decline of 1.02% from the previous close of 24,967.75. The day's range fluctuated between a high of 24,915.90 and a low of 24,690.95, reflecting heightened volatility amid global cues and domestic profit-taking. Similarly, Bank Nifty ended at 54,450.45 with a 1.25% drop, while Sensex settled at 80,786.54, down 1.04%. This market analysis for tomorrow provides key technical levels, support and resistance zones, and precise Nifty predictions, Bank Nifty predictions, and Sensex predictions to guide traders.
Key Observations of Market Closing
Today's trading session reflected bearish sentiment across all major indices, with the Indian Stock Market experiencing significant declines. The NIFTY 50 formed a bearish engulfing candle with a substantial real body, indicating strong selling pressure from institutional investors. This candle pattern suggests that bears have taken control of the market sentiment, with the closing price significantly below the opening level.
SENSEX followed a similar trajectory, closing at 80,786.54 with a decline of -1.04%, while Bank Nifty underperformed with a -1.25% drop to 54,450.45. The broader market breadth remained weak with declines outnumbering advances across most sectors.
The daily candle pattern formation shows a bearish engulfing pattern where today's red candle completely engulfed yesterday's bullish candle body, signaling potential continuation of downward momentum. This technical formation typically indicates a shift in market sentiment from bullish to bearish.
Support and Resistance Levels
Critical technical levels for tomorrow's trading session have been identified through comprehensive market analysis:
NIFTY 50 Levels
| Support Levels | Resistance Levels | No Trading Zone |
|---|---|---|
| 24,630 - 24,535 - 24,470 | 24,900 - 24,970 - 25,033 | 24,690 - 24,838 |
Bank Nifty Levels
| Support Levels | Resistance Levels | No Trading Zone |
|---|---|---|
| 54,270 - 53,900 - 53,880 | 54,900 - 55,100 - 55,260 | 54,395 - 54,720 |
SENSEX Levels
| Support Levels | Resistance Levels | No Trading Zone |
|---|---|---|
| 80,467 - 80,165 - 80,000 | 81,400 - 81,550 - 81,793 | 80,700 - 81,209 |
These levels are derived from technical analysis patterns, volume analysis, and previous price action, forming the foundation for tomorrow's market prediction.
Nifty Predictions
For NIFTY predictions in tomorrow's session, traders should focus on the no-trading zone between 24,690 to 24,838. This range represents a consolidation phase where directional moves may lack conviction.
Bullish Scenario: If a 15-minute candle closes above 24,838, expect bullish momentum with targets at:
- 1st Target: 24,900
- 2nd Target: 24,970
- 3rd Target: 25,033
False Breakout: If NIFTY crosses 24,838 but closes below, short targets are:
- 1st Target: Today's low at 24,770
- 2nd Target: 24,700
Bearish Scenario: If a 15-minute candle closes below 24,690, downside targets include:
- 1st Target: 24,630
- 2nd Target: 24,535
- 3rd Target: 24,470
Recovery Play: If it crosses 24,690 but closes above, upside targets are:
- 1st Target: 24,750
- 2nd Target: 24,838
Bank Nifty Predictions
Bank Nifty predictions show the index trapped in a no-trading zone from 54,395 to 54,720. The banking sector continues to face pressure amid global uncertainties.
Bullish Momentum: If a 15-minute candle closes above 54,720, targets are:
- 1st Target: 54,900
- 2nd Target: 55,100
- 3rd Target: 55,260
False Breakout: If Bank Nifty crosses 54,720 but closes below, short targets are:
- 1st Target: Today's low at 54,550
- 2nd Target: 54,400
Bearish Scenario: If a 15-minute candle closes below 54,395, downside targets include:
- 1st Target: 54,270
- 2nd Target: 53,900
- 3rd Target: 53,880
Recovery Pattern: If it crosses 54,395 but closes above, upside targets are:
- 1st Target: 54,700
- 2nd Target: 54,900
SENSEX Predictions
SENSEX prediction shows strength with a no-trading zone from 80,700 to 81,209. The broader market index continues to display resilience despite today's decline.
Bullish Momentum: If a 15-minute candle closes above 81,209, targets are:
- 1st Target: 81,400
- 2nd Target: 81,550
- 3rd Target: 81,793
False Breakout: If SENSEX crosses 81,209 but closes below, short targets include:
- 1st Target: Today's low at 81,000
- 2nd Target: 80,900
Bearish Scenario: If a 15-minute candle closes below 80,700, downside targets are:
- 1st Target: 80,467
- 2nd Target: 80,165
- 3rd Target: 80,000
Recovery Pattern: If it crosses 80,700 but closes above, upside targets are:
- 1st Target: 80,900
- 2nd Target: 81,200
Tomorrow's Market Prediction (28th August)
Our Technical Analysis for 27th Aug 25 suggests a cautiously bearish outlook for the Indian Stock Market. The formation of bearish engulfing candles across major indices, combined with weak global cues, indicates continued pressure.
Critical Levels to Watch:
- NIFTY sustaining above 24,838 for bullish momentum
- Bank NIFTY breaking 54,720 for banking sector strength
- SENSEX maintaining above 81,209 for broader market confidence
Trading Strategy Recommendations:
- Focus on breakout/breakdown trades with proper risk management
- Avoid trading within defined no-trading zones
- Use 15-minute candle confirmations for entry decisions
- Maintain strict stop-losses as per mentioned levels
Important Trading Rule: No bullish trade in bearish candle, no bearish trade in bullish candle.
Day Traders: Focus on breakdown strategies with defined risk parameters
Swing Traders: Watch for sustained moves below critical support levels
Investors: Current levels may offer selective opportunities in quality stocks
Market Sentiment: Bearish to neutral with stock-specific opportunities
Risk Management: Essential given global uncertainties and technical resistance levels.
Previous Analysis Accuracy
Option Matrix India has demonstrated exceptional accuracy in previous market predictions, with our technical analysis consistently hitting target levels with precision. Our proven track record includes.
- Accurate identification of key support and resistance levels
- Precise target achievements in previous trading sessions
- Consistent delivery of actionable trading insights
- High success rate in breakout and breakdown predictions
This consistent accuracy stems from our comprehensive approach combining technical analysis, option chain data, and market sentiment analysis.
Final Verdict
Today's bearish candle formation across all major indices signals potential continuation of downward momentum. Traders should exercise caution and follow the defined no-trading zones to avoid whipsaws. The key will be monitoring 15-minute candle closures above or below critical levels for directional clarity.
Risk-Reward Ratio: Favorable for disciplined traders following our level-based approach
Market Outlook: Cautiously bearish with selective opportunities
Strategy: Level-based trading with strict risk management
Disclaimer: This analysis is for educational purposes only. Please consult your financial advisor before making investment decisions. Past performance does not guarantee future results. Option Matrix India and the author are not responsible for any trading losses incurred based on this analysis.