Rajesh Palviya, Head of Research, Axis Direct

The Nifty 50 reversed its previous session's recovery on Wednesday, declining 126.80 points to close at 24,207.75, while the Sensex fell 183.15 points to 77,472.94. IT, FMCG and auto stocks led the selling. Global cues were subdued overnight, with the S&P 500 ending flat, the Nasdaq slipping 0.08% and the Dow losing 113 points, while core PCE inflation came in line with expectations at 3.3% year-on-year.

Sentiment has improved since then, led by strong Nvidia results. The company reported revenue of $96.2 billion, more than double from a year ago, sending its stock over 4% higher in after-hours trading and lifting Asian markets, with the Kospi gaining around 1.4%. Brent crude, near $86.6 a barrel, has eased for a third consecutive session as concerns over supply disruptions through the Strait of Hormuz moderate, providing some relief to India's import bill. GIFT Nifty at 24,341 indicates a relatively muted opening, with the index likely to start around 60 points higher.

Technically, the Nifty remains rangebound as long as it trades below 24,350. A decisive close above this level could open the way towards 24,500, while immediate support is placed at 24,100, followed by 23,950. The near-term bias remains cautiously positive, although sustained gains will depend on whether the AI-led global optimism translates into broader buying interest during the session.

Vikram Subburaj, CEO, Giottus.com

Bitcoin traded near $78,750 on Thursday morning, up about 0.3% over 24 hours, after ranging between approximately $77,640 and $79,241. The crypto has managed to hold most of its sharp August gains despite hotter US inflation data. Immediate support lies around $77,600-$78,000. On the upside, $79,250-$80,000 is the first resistance zone, followed by the more significant $80,800-$83,300 region.

The latest on-chain data suggest that the recovery has a healthier foundation than a leverage-driven rally alone. The August 19 short squeeze produced the largest single-day short-liquidation event since 2019. However, Futures open interest subsequently fell 11%. This indicates that liquidated shorts were not simply replaced by aggressive leveraged longs.

 Accumulation has also broadened, with all six wallet-size cohorts recording an Accumulation Trend Score of at least 0.5. The Short-Term Holder Cost Basis is now near $70,000, providing an important structural support level.

Institutional demand remains strong. US spot Bitcoin ETFs recorded approximately $2.57 billion of net inflows across seven consecutive sessions from August 17-25. This includes $337.6 million on August 24 and $314.3 million on August 25. Farside's August 26 figure remains incomplete, with several major funds yet to report.

Large-cap altcoins are mixed but generally resilient. Ethereum traded near $2,502, up 1.8%, BNB around $705, up 1.5%, and Solana near $101.64, up 4.8%. XRP was around $1.41, while TRON traded near $0.336. Solana's outperformance suggests risk appetite remains present beyond Bitcoin.

Macro is now the principal risk. July headline PCE inflation came in at 3.7% year-on-year, while core PCE remained at 3.3%, keeping inflation well above the Fed's 2% objective. Fed-funds futures subsequently raised the probability of a September rate hike to roughly 40%-44%. Attention now shifts to Jackson Hole from August 27-29, and particularly Fed Chair Kevin Warsh's August 28 address.

Our advice: Bitcoin's broader structure remains constructive, but investors should avoid chasing the rally near resistance. Staggered accumulation and controlled leverage remain preferable, with $77,600-$78,000 support and $80,800-$83,300 resistance the key zones to monitor.

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Nischal Shetty, Founder, WazirX

"The Dow's intraday chart shows an early decline, a partial recovery and another late pullback. That suggests hesitant trading for the overall market.

For crypto, this is neutral to mildly constructive. Equity indices are marginally lower, so there is little immediate risk-on momentum to lift Bitcoin and altcoins. The combination of lower oil and subdued volatility could become supportive if markets continue to expect softer inflation and easier monetary policy. Conversely, gold's rise indicates that some capital is still seeking safety.

BTC holds above its 50-day and 200-day EMAs, but weakening momentum warrants caution. Support lies near $77,489; a decisive break above $82,850 could open a path towards $89,663, while failure to hold support may deepen the current pullback. Bitcoin may remain range-bound in the near term. The backdrop is not strong enough to support a decisive breakout, but it also does not point to a broad risk-off sell-off. Altcoins could remain more sensitive and underperform if the Nasdaq weakens further. 

Crypto ETFs attracted $482.13 million on August 25: approximately $310 million into Bitcoin and $172 million into Ethereum. The market is entering a more constructive, institutionally supported phase. The inflows may help Bitcoin defend recent support and challenge resistance, while Ethereum could benefit from renewed allocation. 

Futures traders should watch out for BTC at $80,000 which is the immediate breakout level. A sustained move above $82,850 would strengthen the bullish structure, while losing $77,500 could expose $75,000.

For ETH, $2,500 is the immediate decision point. A confirmed close above $2,520 could support a move toward $2,600."

Vaishali Patel, Senior Manager - Research- Technical Department at Jainam

Nifty opened on a flat note but selling led the index downwards to end in red. Nifty closed at 24207.75 with a loss of 127 (-0.52%) points. U.S. markets ended largely firm, with the Dow remained under pressure and Nasdaq futures were broadly stable. Investors are closely watching Nvidia's earnings and inflation data for clues on the Fed's interest-rate path.

Asian markets are trading mixed, reflects cautious investor sentiment ahead of key global economic and corporate updates. Crude oil prices remain under pressure, amid easing concerns over supply disruptions, trading around the 7,897, tracking weakness in international crude. GIFT Nifty is trading around 24,363, up roughly -0.14%, indicating a cautious-to-positive opening versus the previous Nifty close.

Technically, Nifty remains in a consolidation phase and is currently trading near the lower end of its recent range, with the 24,100 - 24,000 zone acting as a crucial support area. A sustained move above 24,500-24,600 could revive bullish momentum and open the door for a retest of the 25,000 - 25,150 resistance zone. The index is currently trading around its key moving averages, suggesting an ongoing tug-of-war between bulls and bears. Meanwhile, RSI is hovering near the neutral 50 mark, reflecting a lack of strong directional momentum. Traders should watch for a decisive breakout or breakdown from the current range for the next meaningful move.