Nifty 50, Sensex and Nifty Bank index fell in the first half of last week. However, the benchmark indices recovered in the second half. Sensex and Nifty closed the week down by 0.47 and 0.6 per cent. Nifty Bank index on the other hand recovered all the loss and was up 0.47 per cent for the week.Broadly, the support has held well on all the three indices in line with our expectation. That keeps intact our broader bullish bias. If the indices manage to sustain the bounce, there are good chances to see further rise, going forward.FPIs BuyThe Foreign Portfolio Investors (FPIs) continue to buy Indian equities. The equity segment saw a net inflow of about $725 million last week. The FPIs were net buyers for the fifth consecutive week. We need to watch the FPI’s action, going forward. Any acceleration in their purchase will aid the Sensex and Nifty to scale new highs, going forward.Video Credit: BusinesslineNifty 50 (24,252)Short-term view: The 24,000-23,950 support zone mentioned last week has held very well. Nifty has risen back from the low of 24,025.65. If it manages to sustain this bounce, then a further rise to 24,500 is possible this week. An eventual break above 24,500 can then take the Nifty higher to 24,700-24,800.The short-term picture will turn negative only if the index declines below 23,950. If that happens, a fall to 23,900 or 23,800 can be seen. But our preference is to see the Nifty sustaining above 23,950 and go higher.Medium-term view: The broader 22,000-26,500 range is intact. Within that, we expect the Nifty to go up towards 26,500, the upper end of the range in the medium term.The bias continues to remain positive. So, Nifty is likely to make a bullish breakout above 26,500 eventually. Such a break can trigger a fresh rally to 28,000 and 30,000 in the long term.Nifty has to decline below 22,000 to prove our bullish view wrong.Nifty Bank (57,761.95)Short-term view: The fall to 57,000 happened in line with our expectation and the bounce thereafter has also happened as expected. The bias is positive. Nifty Bank index can rise to 58,400 first. A break above 58,400 can then take the index further higher to 59,200 and 60,000 in the short term.Immediate support is at 57,300. Below that 57,000-56,700 will continue to act as a strong support. The index has to break 56,700 to come under pressure for a fall to 56,000 or lower. But the price action on the chart indicates less chances for a decline below 57,000 itself.Medium-term view: The broader picture remains bullish. Nifty Bank index can rise to 65,000 in the medium term. A rise above 60,000 can clear the way for this upmove.From a long-term perspective, the Nifty Bank index has potential to target 68,000-69,000 on the upside.We reiterate that series of supports are available at 55,000, 53,000 and 50,000. The index has to decline below 50,000 to negate the above mentioned long-term bullish view. But that looks less likely.Sensex (77,540.83)Short-term view: Sensex bounced back from its low of 76,822.89 last week. Near-term support is in the 77,000-76,700 region. As long as the index stays above this support zone, the bias will remain positive. Sensex can rise to 79,000 and even to 80,000 in the coming weeks.The near-term picture will turn negative only if the index breaks below 76,700. If that happens, a fall to 76,000 or 75,800 can be seen. However, a fall beyond that is less likely.Medium-term view: The broader 71,000-86,000 range is intact. Within this, we expect the Sensex to go higher towards 86,000, the upper end of the range in the medium term.Eventually we can expect the index to make a bullish breakout above 86,000. Such a break can then trigger a fresh rally and take the Sensex higher to 90,000 and even 94,000 in the long term.Sensex has to break below 71,000 to negate our bullish view and become bearish.Nifty Midcap 150 (23,407.70)The index has been oscillating between 23,200 and 23,500 since the beginning of this month. A breakout on either side of this range will determine the short-term move.A break below 23,200 can take the index down to 23,000-22,950. Thereafter we can expect a strong bounce back move towards 23,200-23,300 and higher levels again.On the other hand, a strong break above 23,500 can trigger a fresh leg of upmove towards 26,000-26,500 in the medium term. It will also keep our overall bullish bias intact for the Nifty Midcap 150 index to target 28,000-28,500 in the long term.The level of 22,800 is a key support to watch. The short-term picture will turn negative only if the index declines below this support. If that happens, we can get a fall to 22,400-22,200. However, that will not disrupt the broader bullish view. It will only delay the rise to 26,500 and 28,500.Nifty Smallcap 250 (18,414.45)As expected, the index fell to test 18,200 and then has risen back very well. The bias is positive to breach 18,450, the immediate resistance and rise to 18,700-18,750 in the coming weeks.That in turn will keep the upside open to see 22,500-23,000 in the medium term. From a big picture, the Nifty Smallcap 250 index has the potential to target 24,000-24,500 in the long term.The region between 18,200 and 18,000 will continue to act as a strong support zone. The short-term picture will turn negative if the index breaks below 18,000. Such a break can drag the index down to 17,400-17,300. This in turn will delay the rally to 24,000-24,500 mentioned above. However, a fall below 18,000 is less likely as it will require a strong negative trigger.Published on August 22, 2026