Stock Market Prediction Today, August 27: Indian stock markets are expected to remain volatile and range-bound as trading resumes on Thursday, August 27, after benchmark indices – Nifty and Sensex – ended lower, giving up intraday gains, dragged by Reliance Industries and IT stocks, in the previous session.
Technical analysts said the broader market still lacks a clear directional trend, with key support and resistance levels likely to determine the near-term trajectory.
Sensex, Nifty at close on Wednesday
Stock market prediction today, August 27 by experts
After a session marked by late profit booking and mixed sectoral trends, technical analysts expect the consolidation phase to continue until key breakout levels are decisively crossed.
Sensex Prediction Today, August 27
Sachin Gupta, VP – Technical Research, Choice Equity Broking stated Sensex continued to remain in a consolidation phase with resistance near its 200-Day EMA.
He further stated, “The broader trend remains cautious, while the short-term structure is range-bound. Geopolitical concerns around the ongoing US-Iran tensions continue to remain a key risk factor, although easing concerns over the Strait of Hormuz and softer crude oil prices have provided some relief to market sentiment.”
He noted that the index is trading below the 200-Day EMA, while RSI stands at 48.40, indicating subdued momentum. “Immediate support is placed at 76,900–77,000, while resistance is seen at 77,700–78,000,” he added.
Gupta said the overall bias remains sideways to cautious for Sensex.
“Sensex continues to trade below its 200-Day EMA, while RSI remains below the 50 midpoint. Sustaining above the 76,900–77,000 support zone would keep the current consolidation intact, whereas a decisive breakout above 77,700–78,000 would be required to strengthen the bullish momentum,” the analyst emphasised.
Sector-wise, Metals and Commodities were the major outperformers, followed by Financial Services, Private Banks, Bankex and PSU Banks, which witnessed buying interest. On the other hand, Information Technology, Telecommunication, Consumer Durables and FMCG remained under pressure, resulting in mixed sectoral performance, he stated.
Nifty Prediction Today, August 27
According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, a long negative candle was formed on the daily chart due to downtick of 68 points registered in the closing CAS.
“After a sustainable upmove on Tuesday, the market was not able to show follow-through upside on Wednesday and closed the day lower,” he said.
He further stated that though, technically this market action display sharp reversal on the downside, but the overall market breadth remained positive with outperformance seen in broad market indices.
He believes the he underlying trend of Nifty remains subdued within a high low range of 24100-24400 levels. “A decisive breakout only above 24400-24500 levels not only confirm the valid breakout but also open more sustainable upside in the near-term. Any slide below the support of 24100-24000 is likely to trigger fresh weakness.” Shetti added.
Nandish Shah, Deputy Vice President at HDFC Securities, noted the market remains choppy, with Nifty yet to establish a clear directional trend.
He highlighted the importance of the 24,100-24,400 range, stating that the Nifty faced resistance near its 200-day DEMA and witnessed profit booking at higher levels.
“The 24,100–24,400 range will be crucial going forward. A decisive breakout above 24,400 could signal renewed strength, while a sustained break below 24,100 may increase the risk of further weakness. Until then, the index is likely to stay volatile and range bound,” Shah stated.
Sectoral performance was mixed. Cement, Metal, Chemical, and Private Bank indices posted the strongest gains, whereas IT, FMCG, and Consumer Durables sectors witnessed the steepest declines.
Broader markets displayed a mixed trend: the Nifty Midcap index fell 0.10%, while the Nifty Smallcap index rose 0.81% to close at an all-time high. Market breadth remained strong, with an advance–decline ratio of 1.23, indicating renewed buying interest in midcap and smallcap stocks, Shah stated.
Nifty faced resistance near its 200-day DEMA and encountered profit booking at higher levels. The index closed near the day’s low, reflecting renewed selling pressure and a lack of follow-through in the recent recovery, he added.
