Stock Market Outlook Today, August 12, 2026: Sensex, Nifty Likely To Remain Range-Bound Amid Crude Oil Concern

Sensex and Nifty are likely to remain cautious on Wednesday, August 12, after the Sensex and Nifty 50 ended the previous session under pressure. Rising crude oil prices remained a key concern for investors, with Brent crude hovering around the $90-per-barrel mark, adding to worries over inflation and market sentiment.

Stock Market Outlook Today, 12 August 2026: Sensex, Nifty Prediction for Wednesday

The Nifty 50 witnessed selling pressure during the session and slipped to an intraday low of 24,429.25. Although buying emerged at lower levels and helped the index recover some of its losses, the benchmark eventually closed close to the day's low.

At the end of Tuesday's session, the Sensex declined 388.19 points, or 0.49%, to settle at 78,154.25. The Nifty 50 fell 112.10 points, or 0.46%, to close at 24,471.70.

Nifty Prediction Today, August 12, 2026: Support And Resistance Levels

According to Bajaj Broking Research, the Nifty formed a bearish candle on the daily chart, recording both a lower high and a lower low. The technical formation indicated profit booking at higher levels during the weekly expiry session, particularly as Brent crude prices moved towards the $90 level.

Despite the recent weakness, the broader technical setup remains relatively constructive. The index has spent the last six sessions consolidating within a narrow range after retracing only 23.6% of its sharp seven-session rally from 23,606 to 24,774.

The shallow retracement over a similar period suggests that the market may be forming a higher base rather than entering a deeper correction.

"We expect the index to extend the last 6 sessions consolidation and trade in the broad range of 24,200-24,700. Higher crude prices will keep selling pressure at higher levels. However, the broader trend continues to remain positive, as Nifty continues to consolidate above the breakout zone of the three-month triangular pattern and the current breather should be used to accumulate quality stocks," said Bajaj Broking Research.

A sustained breakout above 24,700 would be an important technical trigger for the Nifty. According to the brokerage, a decisive move above this level could signal a resumption of the broader uptrend and open the way towards 25,000-25,200 over the coming weeks.

On the downside, the 24,200-24,300 zone is expected to act as immediate support. This area is backed by the previous gap zone as well as the 50-day exponential moving average (EMA).

The 24,000 level remains an important short-term support for the index. As long as the Nifty holds above this mark, the near-term market bias is expected to remain positive despite bouts of volatility.

Bank Nifty Outlook Today

The Bank Nifty also remained under pressure and formed its third consecutive bearish candle. However, the index recorded a long lower shadow, indicating buying interest at lower levels and suggesting that the index continues to consolidate with a corrective bias.

According to Bajaj Broking Research, the broader seven-week consolidation range for Bank Nifty remains intact between 56,500 and 58,700. The 58,000 level is likely to remain an important hurdle for the banking index. A sustained move above this resistance could push Bank Nifty towards 58,500-58,700, which represents the upper end of its broader consolidation range.

On the other hand, failure to cross the 58,000 mark could keep the index range-bound between 57,000 and 58,000 in the near term.

"On the downside, a decisive break below 57,000 (50 days EMA & rising trendline support) would signal extended corrective move towards the 56,500-56,200, which forms the lower band of the broader consolidation channel," said Bajaj Broking Research.

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