Stock Market Outlook Today, 13 August 2026: Sensex, Nifty Likely To Remain Cautious Amid High Crude Oil Prices

Indian equity markets are likely to begin Thursday's session, August 13, on a cautious note after the benchmark indices ended marginally lower in the previous session. Persistent strength in crude oil prices, with Brent crude hovering around the $90-per-barrel level, remained a key concern for investors.

Stock Market Outlook Today, 13 August 2026: Check Sensex, Nifty Prediction For Thursday

Market participants are also expected to track the latest July inflation data from India and the US, which could influence expectations around interest rates and overall market sentiment.

The Nifty 50 declined 0.15% to close at 24,435 on Wednesday, while the Sensex fell 0.24% to settle at 77,966.35. Although the indices remained under pressure for much of the session, buying at lower levels helped both benchmarks recover from their intraday lows. However, the late recovery was not strong enough to push either index into positive territory.

Nifty Prediction Today, August 13, 2026: What Traders Can Expect

According to Bajaj Broking Research, the Nifty formed a bullish hammer-like candle on the daily chart, with a small real body and a long lower shadow. The pattern indicates buying interest emerging at lower levels, particularly around the 20-day exponential moving average (EMA) and the previous breakout zone.

For Thursday's session, the 24,473 level could be important. A sustained move above Wednesday's high of 24,473 may strengthen the recovery and open the possibility of the Nifty moving towards the 24,600-24,700 zone in the coming sessions.

The index has now spent seven sessions consolidating within a relatively narrow range. During this period, it has retraced only 38.2% of its earlier seven-session rally from 23,606 to 24,774. According to the brokerage, the limited retracement over a similar period indicates that the market could be building a higher base rather than entering a major correction.

"A shallow retracement of its previous up move in equal time interval highlights a higher base formation. The broader trend in the Nifty continues to remain positive, as it consolidates above the breakout zone of the three-month triangular pattern and the current breather should be used to accumulate quality stocks. A decisive breakout above 24,700 would confirm the resumption of the uptrend, opening the way towards 25,200 in the coming weeks," said Bajaj Broking Research.

On the downside, the 24,200-24,300 range is expected to provide immediate support for the Nifty. The zone is supported by the previous gap area and the 50-day EMA. The 24,000 mark remains a crucial short-term support level, and holding above it would help maintain the positive near-term bias.

Bank Nifty Outlook Today: Resistance At 58,000

The Bank Nifty also showed signs of buying interest at lower levels after forming a bullish engulfing candle on the daily chart. Bajaj Broking Research said the formation indicates demand emerging around the 50-day EMA and the rising trendline connecting previous major lows.

The banking index continues to remain within a broader seven-week consolidation range of 56,500-58,700. The brokerage expects this range-bound movement to continue unless the index delivers a decisive breakout or breakdown.

"Within the consolidation index is facing resistance around 58,000 levels, a move above the same will open upside towards 58,500-58,700 levels while failure to move above 58,000 will lead to consolidation in the broad range of 57,000-58,000," said the brokerage.

On the downside, 57,000 remains an important level for Bank Nifty. A decisive fall below this mark, which coincides with the 50-day EMA and rising trendline support, could increase selling pressure and push the index towards 56,500, the lower end of the broader consolidation range.

Crude Oil, Inflation Data In Focus

For Thursday's trading session, investors are likely to keep a close watch on crude oil prices and inflation data. Brent crude remaining near $90 per barrel could continue to act as an overhang for Indian equities, particularly because higher oil prices can increase concerns over inflation and the country's import bill.

At the same time, the latest inflation figures from India and the US could provide fresh cues for markets. Investors will assess the data for signs of easing or persistent price pressures, while also evaluating what the numbers could mean for future monetary policy.

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