Akshat Siddhant, Lead quant analyst, Mudrex

Gold is holding near $4,350 an ounce and silver around $64.50 after retreating from multi-week highs on Thursday's profit-taking. Both remain supported by softer US inflation data, with subdued CPI and cooler July PPI readings reducing September Fed rate-hike expectations to about 35% from 55% a week earlier. Oil, however, has taken a different path, slipping below $81 after ending a five-session rally. The decline came despite the IEA doubling its supply-deficit forecast for this quarter to 1.8 million barrels a day, as US crude inventories unexpectedly jumped 17.4 million barrels, their biggest increase since January 2023. 

Gaurav Udani, Founder - ThinCredBlu Securities Pvt. Ltd. 

"Nifty is expected to open flat to slightly negative around 24,370, down nearly 25 points, indicating a cautious start.

The index continues to remain near an important support zone. 24,300-24,400 remains the immediate support range, and it is important for Nifty to sustain above this zone to avoid further selling pressure.

On the upside, 24,700-24,800 remains the key resistance range. A decisive breakout above this zone could bring fresh buying and resume the bullish momentum.

For now, traders should remain cautious and avoid aggressive buying at the open. Buy on dips can be considered only if Nifty holds above 24,300, while a break below this level could increase downside risk."

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Avinash Shekhar, Co-Founder & CEO, Pi42

"Bitcoin continues to consolidate around the $63,000 to $64,000 zone, but the sharp decline in spot trading volumes and continued ETF outflows show that conviction remains limited. BTC is holding an important support area near $62,300, while a move above $64,500 to $65,500 would be needed to strengthen recovery momentum. Ethereum is relatively steadier around $1,890 and is approaching the $1,922 to $2,000 resistance zone, making it one of the key assets to watch for a potential breakout."

XRP has also defended the crucial $1 level, with notable whale accumulation providing some underlying support despite weaker price action. Large holders reportedly accumulated over 72 million XRP within 24 hours, suggesting that some participants are using the correction to build positions. Investors should avoid reacting to short-term rallies and instead watch whether these key support levels hold alongside an improvement in volumes. Staggered entries, disciplined position sizing and limited leverage remain preferable until broader market participation becomes stronger."

The Thesis
InvestorAi is positioned on the domestic cost-relief trade - Brent at $87.69 widens margins where it matters while DII accumulated Rs 4,353 Cr, front-running any FII reversal. The S&P 500 at record 7,800 on soft CPI locks in global demand.

Where We're Concentrated
The basket stacks cost-sensitive industrials - Auto the sole green NSE sector yesterday, Industrial Gases at the auto-pharma-steel capex nexus, Logistics where lower crude is a direct margin lever, and Upstream Energy that hedges on Iran-Hormuz risk keeping the long-run crude floor intact. Pharma adds rupee-export ballast. Brent snapping above $92 on a Hormuz closure is the primary unwind trigger.

Conviction Picks
Highest Conviction
Tata Motors PV
Brent at $87.69 compresses PV input costs as India's SUV cycle re-accelerates; Auto was the sole green sector Thursday.
Linde India
Industrial gas supply to auto, pharma, and steel capex; DII's ₹4,353 Cr accumulation confirms the domestic manufacturing bid.
Oil India
Upstream volumes stay insulated from spot crude dip; Iran's Hormuz standoff keeps the long-run price floor structurally elevated.
Ipca Laboratories
Pharma export margins widen as RBI anchors rupee near 95.41; defensive generics gain traction with India VIX subdued at 11.69.
Container Corporation
Falling Brent directly lifts rail-freight margins on the diesel-cost pass-through; DII-backed domestic infra spend remains intact.
One Thing to Watch
Brent above $88. US-Iran naval blockade signals and UAE vessel attacks in Hormuz are live - a closure snapping crude above $92 flips Auto and Logistics in

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Vikram Subburaj, CEO, Giottus.com

Bitcoin traded near $63,500 on Friday morning, up about 0.2% over 24 hours, but continued to lag the stronger risk-on move seen in global equities. Immediate support lies around $62,800-$63,000, followed by $62,000. Resistance is visible near $63,900-$64,000, with the $65,000-$66,000 region remaining the stronger ceiling for the current recovery.

Market internals remain more constructive than the headline price suggests, but conviction is still limited. Spot taker buying has strengthened. Directional participation in perpetual futures has also increased. Funding rates and open interest remain moderate, reducing signs of excessive leverage. Meanwhile, options traders are paying less for downside protection. However, centralised-exchange turnover and broader on-chain activity remain subdued. This suggests that Bitcoin is still in a tentative recovery rather than a broad expansion.

Institutional flows have also lost momentum. US spot Bitcoin ETFs attracted $865.3 million across five consecutive sessions from August 3-7. Since then, funds recorded a $144.6 million outflow on August 10, a $7.8 million inflow on August 11, a $61.1 million withdrawal on August 12 and at least $125.4 million of outflows on August 13. That leaves August 3-13 flows positive by about $542 million.

Large-cap altcoins were modestly positive. Ethereum gained 0.6% to $1,887, BNB was almost unchanged near $611, XRP rose 0.7% to $1.01, and Solana advanced 0.6% to $76.04. TRON slipped about 0.5% to $0.334. The narrow moves indicate selective participation rather than a broad altcoin rally.

The macro backdrop has improved. July CPI eased to 3.4%, while core inflation stood at 2.5%. July producer prices were unchanged month-on-month and rose 4.7% annually. This pushed the market-implied probability of a September Federal Reserve rate increase down to about 35%, from 55% a week earlier. Markets are therefore leaning towards another hold at the Fed's September meeting, although inflation remains above target.

Our advice: Investors should avoid chasing short-lived moves while Bitcoin remains below $64,000-$66,000. Staggered accumulation and disciplined position sizing remain preferable until stronger ETF and spot demand confirm a breakout.

Riya Sehgal, Research Analyst Delta Exchange

Crypto markets remain cautious despite a more supportive macro backdrop, with Bitcoin trading near $63.5K and Ethereum around $1.89K. Softer US producer inflation has eased near-term rate concerns, but crypto's muted response suggests that fresh spot demand remains limited.

ETF flows are reinforcing that divergence. US spot Bitcoin ETFs recorded roughly $125.4 million in net outflows on August 13, extending the previous session's outflows, while spot Ethereum ETFs saw a modest $6.5 million net inflow. This suggests institutional demand remains softer for Bitcoin, while Ethereum continues to show relatively better resilience.

Technically, Bitcoin is still trading below its key 4-hour EMA cluster around $63.7K-$64.1K. A sustained reclaim of $64.1K could improve momentum toward $64.4K and $65.2K, while a break below $63.2K could bring the $62.4K-$63.1K demand zone back into focus. Ethereum is holding up better but needs to clear $1,900-$1,903 for stronger bullish confirmation.

Near-term view remains neutral to cautious. The macro setup is improving, but Bitcoin has yet to confirm a broader risk-on move. ETF flows, options expiry dynamics, regulatory developments and upcoming US macro data will remain the key catalysts.

Nischal Shetty, Founder, WazirX

"For the previous day's US market, Wall Street finished risk-on, with the S&P 500 at 7,798.99 ( 0.65%), Nasdaq at 26,803.03 ( 0.81%), and Dow at 53,839.99 ( 0.13%). The S&P 500 reached a record closing high, helped by technology stocks and softer-than-expected producer inflation, which further reduced concerns about an imminent Fed hike. Asian equities are benefiting from easing US inflation concerns and strength in technology stocks. For crypto, this creates a supportive macro backdrop through improved risk appetite and reduced rate pressure

BTC is consolidating around $63.5K, with the $63,000-$62,400 zone acting as the main downside area to monitor. A sustained loss of this region would make $61,200-$60,000 the next important liquidity/support zone. On the upside, analysts are watching the $64,000 first, followed by the stronger $65,200-$65,500 resistance. RSI remains neutral and BTC is below several key moving averages.

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At the close on Thursday, the total market cap of all BSE Sensex companies stood at Rs 4,92,88,141.