Sensex fell around 71 points to close at 78,009, while Nifty 50 lost 30 points to end the session at 24,366. Broader markets slipped into the deep red, with Nifty Smallcap 100 and Nifty Midcap 100 indices falling around 0.7% each.

Analyst Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities, interacted with ETMarkets regarding the outlook for the Nifty Bank, options data as well as an index strategy for the upcoming week. The following are the edited excerpts from his chat:

Q) Nifty and Sensex struggled for direction this week. Will consolidation continue this week as Q1 is almost over?

A) Since the beginning of August, the benchmark index Nifty has been trading in a narrow range of 500 points. More importantly, the index’s daily trading range has contracted significantly. The daily ATR currently stands at 192 points, its lowest level since the first week of January 2026, highlighting the sharp decline in volatility. But the bigger question is: where is the momentum going once the opening move fades?
In most trading sessions since the start of August, Nifty has witnessed momentum during the first hour, followed by consolidation within a narrow range. This lack of sustained momentum has made intraday and short-term trading increasingly challenging. The broader indices, Nifty Midcap 100 and Nifty Smallcap 100, have also been trading in a narrow range over the last few sessions. With the broader market also losing momentum, the technical setup of Nifty becomes even more important.

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Nifty is currently oscillating around its 20-day and 200-day EMAs. The prolonged consolidation has resulted in both moving averages flattening out. The daily RSI is hovering near 52 and remains in a falling mode, indicating that the upside momentum is gradually losing steam. Meanwhile, the daily ADX stands at 11.88 and is also declining, pointing towards a lack of strength in either direction. The loss of momentum and fading trend strength suggest that the next breakout could be pivotal in shaping the market’s near-term direction.
Going ahead, the 50-day EMA zone of 24,200–24,150 will act as an important support for the index. On the upside, the 24,550–24,600 zone will remain a crucial hurdle. A decisive breakout from either side of this range could provide the directional trigger the market has been waiting for. Until then, the market may continue to test the patience of traders and investors.Coming to Sensex, after registering a high of 79,143 on August 04, the Sensex has gradually drifted lower, though the pace of the decline has been accompanied by a sharp contraction in daily trading ranges. The index’s Average True Range (ATR) has fallen to 657 points, its lowest level since the first week of January 2026, indicating a significant reduction in market volatility.

Despite the recent softness, the broader trend remains constructive as the index continues to trade above its 20-day, 50-day, and 100-day EMA levels. However, momentum indicators suggest some loss of upside strength.

The daily RSI has moved into a sideways zone and remains below its 9-day average, reflecting waning bullish momentum. Additionally, the ADX is currently at 10.98, highlighting the absence of a strong directional trend and signaling a lack of conviction from both bulls and bears.

Going forward, the 50-day EMA zone of 77,400-77,300 is expected to act as a key support area for the index. On the upside, the 200-day EMA zone of 78,600-78,700 remains a critical hurdle. A sustained move beyond either of these levels could trigger the next meaningful directional trend in the market.

Q) What is the view on Bank Nifty? Within Bank Nifty also, would you prefer Private or PSU Banks?

A) Bank Nifty continues to remain in a consolidation phase, having traded within a broad 58,706-56,023 range over the past nine weeks. The range has narrowed further over the last three weeks, with the index witnessing subdued volatility and forming a series of small-bodied candles, reflecting indecisiveness among market participants.

The prolonged sideways movement has led to flattening of key moving averages, while momentum indicators remain muted. The daily RSI continues to oscillate in a neutral zone, and the ADX has slipped to 8.99, its lowest level since March 2019, indicating a lack of strong directional strength. As a result, we believe Bank Nifty is likely to remain range-bound until a decisive breakout emerges.

From a levels perspective, 58000-58100 remains an important hurdle, while the 57200-57100 zone is expected to provide crucial support. A sustained move beyond either of these levels could trigger the next trending move in the index.

Within the banking space, we currently prefer PSU Banks over Private Banks. PSU Banks continue to exhibit stronger relative strength and favourable price structure, indicating continued outperformance potential. In contrast, Private Banks have largely been consolidating with bearish bias and are currently showing relatively weaker momentum compared to their PSU counterparts. Therefore, from a tactical and relative strength perspective, PSU Banks remain our preferred segment within the banking space.

Q) What is the options market telling you right now that the cash market isn’t? Are you seeing meaningful Call writing or Put writing around key Nifty strikes? Any indications displayed by India VIX or PCR?

A) Since hitting a high of 24,774 on 3rd August, Nifty has been gradually drifting lower. However, volatility has remained subdued, with India VIX largely confined to a narrow 10.10–12.90 range during this period, reflecting an environment of extremely low volatility.

A closer look at the last three sessions suggests that bulls continue to defend lower levels. Although Nifty slipped below the 24,320–24,300 zone, which coincides with the 38.2% Fibonacci retracement of the previous up move, buying at lower levels helped the Index recover and close above 24,300. Nifty has also sustained above its 20-day EMA for the last three sessions, indicating resilience at lower levels.

Options activity further strengthens this view. The 24,300 strike has witnessed significant Put writing, almost three times that of Call writing, making it an important support zone. The same trend is visible at 24,200 and 24,100, where Put writing is nearly 6 times and 16 times higher than Call writing, respectively. Such aggressive Put writing at lower strikes indicates a strong base and suggests limited downside unless Put writers start exiting their positions.

On the upside, the 24,500 strike has seen strong Call writing, nearly three times higher than Put writing, making it an important immediate resistance. A decisive breakout above 24,500, accompanied by short covering, could trigger a swift pullback in the near term.

Overall, the options data does not indicate any significant buildup of bearish positions on the downside, based on the 14th August closing data. The OI PCR had declined from 1.19 at the start of August to 0.75 on 12th August, but has since improved to 0.88 over the last two sessions.

Improving PCR, strong Put writing at lower levels, the bulls’ ability to defend lower levels and Nifty sustaining above its 20-day EMA collectively suggest that the pullback could be around the corner.

Q) Which sector currently looks the strongest & the weakest on the charts?

A) Technically, Nifty India Defence, Consumer Durables, Auto, PSU Banks, and Chemicals are well placed to sustain their relative outperformance in the near term.

Conversely, Nifty CPSE, PSE, Oil & Gas, FMCG, and Cement are likely to remain laggards and continue underperforming the broader market.

Q) Which stocks are looking good on the charts for next week?

A) Based on the current technical setup, Mazagon Dock, HAL, 360 ONE, Ujjivan SFB, Elgi Equipments, Honasa Consumer, Neogen Chemicals, and Glaxo are looking constructive on the charts for the coming week.

Q) What’s your strategy on Tata Motors PV, Tata Motors, Honasa, and Lenskart Solutions?

A) Tata Motors PV stock was consolidating in a Rs 353–334 range since 3rd August. The stock broke down from this range and closed near the lower end. On the weekly timeframe, the 20-week EMA has acted as a stiff resistance over the last two weeks. The Rs 355–360 zone is likely to act as an immediate resistance, with the stock expected to remain under pressure as long as it trades below this zone.

Tata Motors broke out of the Rs 447–398 consolidation range on the weekly timeframe last week, followed by a strong follow-through move this week. The stock continues to trade above key moving averages, while the rising ADX indicates strengthening bullish momentum. The Rs 445–440 zone is likely to act as an immediate support, with the stock likely to extend its up move as long as it holds above this zone.

Honasa had been consolidating in the Rs 491–437 range for the last four weeks. The stock closed above the upper end of the consolidation range this week, supported by a healthy rise in volumes. The RSI has rebounded from the 60 mark and moved higher, indicating renewed bullish momentum. The Rs 475–470 zone is likely to act as an immediate support, with the stock expected to extend its up move as long as it sustains above this zone.

Lenskart hit an all-time high of Rs 627 this week after breaking past its previous resistance zone of Rs 560–580 and closing higher. The stock has also closed above the upper Bollinger Band on the weekly timeframe, a phenomenon often observed during the early stages of strong trends. The Rs 565–560 zone is likely to act as a strong support, with the stock expected to extend its up move as long as it sustains above this zone.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

According to the draft filed with the market regulator, Monarch Overnight Fund will be an open-ended debt scheme investing in overnight securities with a relatively low-interest rate risk and relatively low credit risk.

Also Read | Mutual funds raise IT exposure to 6.6% in July after record low. Is sentiment towards tech improving?

The objective of the scheme will be to seek to generate returns commensurate with low risk and providing high level of liquidity, through investments made primarily in overnight securities having maturity of one business day.

The performance of the scheme will be benchmarked to CRISIL Liquid Overnight Index and will be managed by Sanjay Motta.

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The minimum application amount for lumpsum investment will be Rs 5,000 and in multiple of Re 1 thereafter. The minimum application amount for SIP investment will be Rs 1,000 and in multiples of Re 1 thereafter with minimum six installments.
The fund will invest upto 100% in debt and money market instruments maturing on or before next business day. Overnight funds can deploy, not exceeding, 5% of the net assets of the scheme in G-secs and/or T-bills with a residual maturity of up to 30 days for the purpose of placing the same as margin and collateral for certain transactions.

Portfolio rebalancing due to short term defensive consideration

Subject to the SEBI (Mutual Funds) Regulations, the asset allocation pattern outlined above may be modified from time to time based on prevailing market conditions, available market opportunities, applicable regulatory requirements, as well as political and economic developments.

Portfolio rebalancing in case of passive breaches

Investment strategy and pattern may be deviated from time to time, provided such modification is in accordance with the Scheme(s) objective and Regulations as amended from time to time, the intent being to protect the Net Asset Value of the scheme and unitholders’ interests. In case of any deviation (initial as well as subsequent deviation) in investment pattern, the AMC will achieve a normal asset allocation pattern in a maximum period of 7 days.

In case deviation in investment pattern is not rebalanced within the period indicated above then justification for such delay in rebalancing of portfolio shall be placed before the investment committee and the reasons for the same shall be recorded in writing.

Also Read | Quant Mid Cap Fund exits Anthem Biosciences and Lenskart Solutions, adds Cochin Shipyard and 4 others in July

The fund will be suitable for investors who are seeking regular income over a short term that may be in line with the overnight call rates and want to generate returns by investing in debt and money market instruments with overnight maturity.

The principal invested in the fund and the respective benchmark will be at “low risk” according to the riskometer of the fund and benchmark.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle.

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Dell’s redesigned XPS 13 laptop is drawing praise from technology reviewers as the most credible Windows-based challenger yet to Apple’s MacBook Neo, arriving at a starting price of $700 amid a year defined by sharp price increases across the laptop industry tied to a global memory chip shortage.

The new XPS 13 was first unveiled at Computex 2026 in Taipei, where it drew immediate comparisons to Apple’s MacBook Neo, the budget-focused laptop Apple surprised the industry by launching earlier this year. Dell initially offered the XPS 13 at an introductory $599 price for students, a figure that quickly fueled comparisons given the MacBook Neo’s original $600 starting price. Apple has since raised the MacBook Neo’s price to $700, putting the two laptops in direct competition at the same price point.

Reviewers who spent extended time with the new XPS 13 have generally described it as a capable, well-built machine that closes much of the gap Windows laptops have traditionally faced against Apple’s low-cost offering. Engadget’s Devindra Hardawar, who previously reviewed the MacBook Neo, said Dell’s execution on the fundamentals stood out. “Dell got the basics right with this XPS 13,” Hardawar wrote, noting the laptop’s all-metal case felt smooth and sturdy, without the case flex commonly seen in other laptops at the same price point.

The new XPS 13 measures 12.7 millimeters thick and weighs 2.2 pounds, making it both the thinnest and lightest XPS laptop Dell has produced, and notably lighter than the MacBook Neo by roughly half a pound, according to Yahoo’s review of the device. Reviewers found the two laptops broadly comparable in screen size and aspect ratio, though several noted the XPS 13’s display can reach a higher peak brightness than the MacBook Neo’s screen.

Under the hood, the XPS 13 is powered by Intel’s new Wildcat Lake processors, with reviewers testing the Intel Core 5 320 configuration in the base model. Early Geekbench 6 benchmark results shared by Windows Central showed the Core 5 320 achieving average scores of 2,575 in single-core tests and 8,000 in multi-core tests, putting it in a competitive position against Apple’s A18 Pro chip, the same processor originally developed for the iPhone 16 Pro that powers the MacBook Neo. A separate, more detailed benchmarking comparison from Gizmodo found Apple’s chip maintaining an edge in raw processing speed, outperforming the XPS 13’s chip by 3% in multi-core tests and by 22% in single-core tests, a gap reviewers said would be most noticeable in simpler daily tasks like web browsing rather than heavier workloads.

Battery life emerged as a strength for the new XPS 13, with Dell claiming up to 17 hours of use based on a 4K video streaming test. Reviewers who tested the laptop under more typical daily workloads generally reported not feeling pressure to stay near a charger throughout the day.

Not every aspect of the new XPS 13 drew praise. Engadget’s review flagged the laptop’s 8GB base configuration of RAM as a likely bottleneck for users planning to keep the device for several years, recommending most buyers pay extra to upgrade to 16GB instead. Reviewers also criticized Dell’s decision to use a traditional mechanical trackpad on the XPS 13 rather than the seamless glass trackpad found on the company’s higher-end XPS models, with Gizmodo noting the mechanical pad failed to register clicks made more than an inch below the keyboard, a limitation the MacBook Neo’s trackpad does not share. On input elsewhere, however, reviewers were more positive about the keyboard, with Gizmodo describing the typing experience as “clacky” and “bouncy” in a positive sense, a departure from the flatter keyboards found on Dell’s other current XPS models.

Connectivity options on the new XPS 13 remain limited, with the laptop offering just two USB-C ports and no other physical connections, mirroring the same port limitation found on the MacBook Neo and requiring adapters for users needing to connect other device types.

Reviewers were largely consistent in framing the ultimate choice between the two laptops as one of ecosystem preference rather than a clear-cut performance verdict. PCWorld’s testing placed the XPS 13 roughly in the middle of the pack when compared against similarly priced Windows competitors using PCMark 10 benchmarks, positioning it ahead of Lenovo’s IdeaPad Slim 3 but behind Acer’s Aspire AI 14 in that specific test. Yahoo’s review concluded that buyers already deeply invested in Apple’s ecosystem through an iPhone or other devices may find the MacBook Neo’s broader synergy compelling enough on its own, while the XPS 13 offers Windows users a genuinely competitive alternative with some advantages of its own, including its lighter weight and brighter display.

With laptop prices broadly climbing across the industry amid the ongoing memory chip shortage, reviewers have pointed to the XPS 13 as evidence that budget-focused, well-built laptops remain achievable on the Windows side of the market, even as component costs continue pressuring manufacturers throughout 2026.

In the past 24 hours, Bitcoin and Ethereum were down 0.7% and 0.3% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Cardano fell upto 1.1%.

The global crypto market capitalisation edged down 0.4% to $2.24 trillion, according to Coingecko.Also Read | Quant Mid Cap Fund exits Anthem Biosciences and Lenskart Solutions, adds Cochin Shipyard and 4 others in July

Riya Sehgal Research Analyst Delta Exchange said the crypto markets remain cautious, with Bitcoin hovering near the $63,000 mark as weaker ETF demand and renewed regulatory uncertainty limit risk appetite.

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Sehgal further said the cancellation of the SEC’s scheduled crypto-rule meeting removed a potential near-term catalyst, while recent spot Bitcoin ETF outflows indicate that institutional buying momentum has cooled. However, the absence of aggressive downside acceleration is equally important.
In the past week, Bitcoin and Ethereum fell 2.8% and 1.6% respectively. Among the major altcoins, XRP and Cardano were down 2.4% and 9.8% respectively whereas BNB, Solana, Tron, Hyperliquid, Dogecoin rallied upto 2.9%.Nischal Shetty, Founder, WazirX said Bitcoin remained range-bound near 63K – 65K, with 62.4K-63K providing key support and 64K-65.5K acting as the main resistance zone. Ethereum held around 1,870-1,885, with 1,850-1,870 as support and 1,900-1,925 as immediate resistance.

Shetty further said that institutional demand stayed constructive, with strong ETF inflows, but offsetting selling and subdued momentum kept both BTC and ETH in consolidation.

Also Read | Mutual funds raise IT exposure to 6.6% in July after record low. Is sentiment towards tech improving?

Here is what other analyst say

Harish Vatnani, Head of Trade, ZebPay: Bitcoin and the broader cryptocurrency market continue to trade with subdued momentum, as BTC remains range-bound between $62,000 and $66,000. Uncertainty surrounding global macroeconomic conditions and geopolitical developments has kept traders cautious, limiting fresh participation and resulting in low market volatility.

Ethereum is trading near the $1,885 mark after recovering from recent lows, but it continues to face strong resistance in the $1,950–2,000 zone. Despite repeated rejection near these levels, buyers remain active on dips, indicating that underlying demand is still intact.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

This article was written by

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of SNDK either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given that any particular security, portfolio, transaction or investment strategy is suitable for any specific person. The author is not advising you personally concerning the nature, potential, value or suitability of any particular security or other matter. You alone are solely responsible for determining whether any investment, security or strategy, or any product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. Steven Cress is the Head of Quantitative Strategy at Seeking Alpha. Any views or opinions expressed herein may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.