Nifty Ends August in Pain: Can September Spark a Turnaround?

Nifty slipped nearly 1.8% in the last week of August as global headwinds and US-India tariff concerns weighed on sentiment.

Selling was broad-based, with Banking and Financials dragging the index down the most.

The index currently trades just above 24,400, a crucial support level. Open interest data indicates that the 24,400–24,300 zone may provide short-term support, while the 25,500–25,600 zone remains significant resistance due to heavy call writing. A decisive break below 24,300 could quickly push the index toward 24,000.

Amid the weakness, a silver lining emerges — India’s strong 7.8% GDP growth, the highest in five quarters and well above expectations, may help cushion further downside.

Looking ahead, Monday’s open will set the tone for September—a gap-up above 25,500 could spark a rebound, while staying below may keep Nifty under pressure.