Nifty 50, Sensex and Nifty Bank index closed in the red last week. Sensex and Nifty were down 0.3 per cent each. They are now poised near their crucial support level. Both the indices have to rise back immediately from here to get some relief and go higher. Failure to do that can keep them vulnerable to fall further, going forward. As such, the price action this week is going to be very crucial for both the Sensex and Nifty.Nifty Bank index on the other hand has been stuck inside a narrow range over the last few weeks. The overall bias continues to remain positive. We expect the Nifty Bank index to make a bullish breakout of its range and go higher eventually.FPIs BuyThe Foreign Portfolio Investors (FPIs) seem to be coming back into the Indian market. They bought the Indian equities for the sixth consecutive week. This has been the longest buying streak, on a weekly basis, in the past two years.The equity segment saw a net inflow of about $771 million. If the FPIs continue to buy, then that may aid in limiting the downside in the benchmark indices.Video Credit: BusinesslineNifty 50 (24,175.65)Short-term view: A crucial support is at 24,000. Nifty has to sustain above it in order to go higher towards 24,400-24,500 first. This will give some relief. An eventual break above 24,500 can then take the index higher to 24,700 and 24,850 thereafter.Nifty will come under more selling pressure if it declines below 24,000. In that case, a fall to 23,800 and 23,600 is possible.Medium-term view: The fall in the last few weeks has not altered the broader picture. The 22,000-26,500 range is still intact. Within that, the chances of getting a rise to 26,500 will remain alive as long as the Nifty stays above 24,000.Our broader bullish bias is intact. We expect the Nifty to make a bullish breakout above 26,500 and rise to 28,000 and 30,000 in the long term.In case a break below 24,000 is seen, then there are chances to go down towards 23,000 and lower. Such a fall will only delay the expected break above 26,500 and will not disrupt our bullish view.Nifty Bank (57,496.30)Short-term view: The index is stuck between 57,000 and 58,250 over the last few weeks. There is no major change in our view. The bullish bias remains intact.Nifty Bank index can breach 58,250 and rise to 59,000 and 60,000.The short-term picture will turn negative only if the index declines below 57,000. If that happens, 56,500 and 56,000 can be seen on the downside.Medium-term view: The overall bullish view is intact. A break above 60,000 can trigger a fresh rally 65,000 in the medium term. It will also strengthen the bullish case to target 68,000-69,000 on the upside in the long term.Series of supports are there at 55,000, 53,000 and 50,000. A decisive fall below 50,000 is needed to turn our bullish view wrong. But that looks unlikely.Sensex (77,264.51)Short-term view: Sensex failed to breach 78,000 and has come down. Immediate support is 76,850. The index has to sustain above this support and breach 78,000 decisively to get a breather. Only then the chances of the rise to 79,000-80,000 mentioned last week can come back into the picture.Failure to bounce back strongly from here and a break below 76,850 can drag the Sensex down to 76,000 or even 75,700. We will have to wait and watch what happens.Medium-term view: Sensex is now moving up within its broad 71,000-86,000 range. There is no change in our overall bullish stance. A rise to 86,000 is likely to be seen in the medium term. This rise will be delayed in case the index declines below 75,700 from here. But that looks less likely.From a long-term perspective, Sensex is likely to breach 86,000 eventually. That can trigger a rally to 90,000 and 94,000 in the long term.A fall below 71,000 is needed to prove our bullish view wrong.Nifty Midcap 150 (23,507.15)The index touched a high of 23,647.50 and has come down from there. Strong support is in the 23,400-23,300 region. The bias is positive to get a rise to 23,750 in the short-term.An eventual break above 23,750 will then open the doors for a fresh rally to 26,000-26,500 in the medium term and 28,000 in the long term.The near-term picture will turn negative if the index breaks below 23,300. Such a break can drag the index down to 23,100-23,000.Nifty Smallcap 250 (18,496.15)The index is inching up. Our bullish view is intact. A rise to 18,800 can be seen in the short term.From a big picture, the Nifty Smallcap 250 index can rise to 22,500-23,000 in the medium term and 24,000-24,500 in the long term.The index has to decline below 18,300 to turn the near-term picture negative and fall to 18,100-18,000.Published on August 29, 2026