Daily Market Quote: 21 August 2026

Authored By Prime Research | Published at: Aug 21, 2026 04:26 PM IST

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Nifty sustained with gains for the second consecutive sessions on Friday and closed the day marginaly higher by 20 points. After a sharp upmove of Thursday, the market seems to have consolidated with range bound movement on Friday. The opening upside gap of Thursday remains unfilled. This is positive indication and signals short term bottom reversal for the Nifty at the key trendline support of 24000 levels.

Nifty on the weekly chart formed a small negative candle with long lower shadow, which signals a formation of bullish hammer type candle pattern, not a classical one. Larger degree bullish chart pattern of higher tops and bottoms is intact on the weekly chart and it seems like new higher bttom formation this week at 24025.

The underlying trend of Nifty is positive and there is a chance of further upside towards 24500-24600 levels by next week. Immediate support is placed at 24100.

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At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please Note: The information shared is intended solely for informational purposes and does not make any investment recommendations

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