Market Bias: Cautious to Bearish
📊 Positive cues: Gold and crude oil retain positive underlying momentum. Nifty and Bank Nifty are approaching important support zones, while option writing indicates downside protection at selected lower strikes.
Market sentiment is cautious to negative. Gift Nifty, weak Asian markets, rising crude oil and elevated global bond yields collectively favour a defensive trading approach.
Sumeet Bagadia expects the Indian stock market to remain cautious on 19 August 2026. For Nifty, 24,000–24,150 is the crucial support zone,
MCX Crude Oil may remain volatile with a positive bias, but the market must sustain above the pivot of Rs. 8,152 and resistance at Rs. 8,217 to continue its rally.
MCX Gold is expected to remain volatile between Rs. 1,53,000 and Rs. 1,55,000. The technical pivot at Rs. 1,54,702 and heavy call writing at Rs. 1,55,000 c
