Nifty Analysis EOD – August 17, 2026 – MondayNifty 50 IndexNSE:NIFTYkzatakia🟢 Nifty Analysis EOD – August 17, 2026 – Monday 🔴 Tug of War at 24,230: Bulls Rally 132 Points, CAS Drags Nifty Below PDL 🗞 Nifty Summary The day started with bearish sentiment — right after the open, Nifty sharply fell 75 points and tried to find a base near 24,280, below the PDL, but couldn’t hold there. It lost another 50 points and tested 24,230, an important support level, breaching the 12th Aug low in the process. The 24,230 level held for a while, and price consolidated in a tight 20-point range for almost an hour. After that range broke, Nifty sharply recovered 132 points off the day low and tested the day high, where the CPR zone acted as resistance and stopped the move north — the rest of the session stayed at the higher end of the range. At 3:15, Nifty closed at 24,339.80, but the adjusted close came in at 24,287.65, 52 points down from the 3:15 print. Two very different vibes in one day — in the morning almost all indices (except Metal) and sentiment were with the bears, but the consolidation at 24,230 flipped the table and bulls tried to push north, until the CAS closing changed the picture and dragged the close below the PDL. This is the first session where the CAS close came in negative versus the 3:15 price, which to me suggests sellers were the major participants in that window. Today marked the 10th session (14th day) where Nifty never crossed its PDH, but at least there was an attempt to retest the IBH — maybe the first sign bulls are still around. The daily candle closed bearish with a fairly contained 133-point range, so today doesn’t scream high volatility, just a tug of war that ended in the sellers’ favor. Tomorrow, if 24,230 gives way, the next support opens toward 24,135, but holding above it and reclaiming the CPR zone could bring another push toward 24,430. 🛡 5 Min Intraday Chart with Levels 📉 Daily Time Frame Chart with Intraday Levels 🕯 Daily Candle Breakdown Open: 24,343.45 High: 24,360.10 Low: 24,226.95 Close: 24,287.65 Change: −78.35 points (−0.32%) 🏗️ Structure Breakdown Type: Bearish — sellers kept the edge through the session without a decisive push Range: ≈133 points — low volatility Body: ≈56 points — reflects the seller pressure that carried price lower Upper Wick: ≈17 points — barely any rejection showed up at the top Lower Wick: ≈61 points — decent demand stepped in down at the lows 🛡 5 Min Intraday Chart ⚔️ Gladiator Strategy Update ATR: 175.10 IB Range: 76.75 → Medium Market Structure: ImBalanced Trade Highlights: 09:56 Short Trade: Target Hit (R:R 1:3.37) 13:42 Long Trade: Early Exit (R:R 1:4.26) Trade Summary: Both trades worked in my favor today — the 09:56 short caught the breakdown below 24,230 cleanly for a 3.37R win, and the 13:42 long rode the recovery, though I chose an early exit instead of holding for the full target. Given how the CAS session flipped the close later in the day, that early exit turned out to be the disciplined call in hindsight. Grateful for a green day, but staying a conservative trader means not getting greedy after a good start. 🧱 Support & Resistance Levels Resistance Zones: 24,335 ~ 24,360 | 24,430 | 24,500 Support Zones: 24,230 | 24,135 | 24,050 🧠 Final Thoughts “The CAS close didn't just end the day — it rewrote what the day meant.” What stood out to me today was how quickly the mood flipped after 24,230 held — a 132-point recovery off the lows isn’t small, and for a while it genuinely looked like bulls had taken over. But the CAS close below the PDL undid a chunk of that story, and I’m still turning that one over in my head. If 24,230 breaks, I’ll be watching 24,135 and then 24,050 as the next spots for support. Above that, if we reclaim the CPR zone and push through 24,360, 24,430 becomes the next hurdle worth watching. Two green trades and a system that’s still doing its job — that’s really all I can ask for. Tomorrow I want to stay patient and let the first hour tell me which side actually means it. ✏️ Disclaimer This is my personal digital diary and represents my own analysis and point of view. It is not financial advice; please consult a professional advisor before making any trading decisions.