Avinash Shekhar, Co-Founder & CEO, Pi42

"Bitcoin's move around the $78,000 to $79,000 zone suggests the market is entering a consolidation phase after a strong recovery, with $80,000 emerging as the key level to watch. A sustained breakout above this zone could reopen the path for another leg higher, while continued rejection may keep BTC range-bound in the near term. Ethereum, trading around $2,470, is showing relatively steady participation, which indicates that market interest is gradually extending beyond Bitcoin. XRP, near $1.39, has seen some cooling after its recent rally, but continues to remain sensitive to broader market momentum and fresh buying interest.

For investors, this is a market where patience may be more rewarding than chasing sharp price moves. Staggered entries can help navigate the current volatility, particularly while Bitcoin tests the $80,000 level. ETH maintaining strength above the $2,400 zone could support a move towards higher levels, while XRP would need to reclaim the $1.40 to $1.50 range convincingly to strengthen its near-term setup. Investors should continue to focus on disciplined position sizing, defined stop-loss levels and avoid overexposure after strong short-term rallies."

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PhonePe, today announced the launch of PhonePe UPI 123Pay, bringing UPI payment capabilities to feature phone users across India without the need of an internet connection. With this, PhonePe becomes the first major third-party application provider (TPAP) to extend UPI payments to India's 200 million feature phone users. This is a significant step toward advancing financial inclusion and bringing underserved communities into the digital payments fold.

The service will come pre-bundled on Nokia, HMD, Lava International and Itel Mobile - Transsion Holdings devices, with other handset manufacturer partnerships to follow in the coming months. The launch builds on our proprietary technology stack built specifically for UPI payments on feature phones.

Harish Vatnani, Head of Trade, ZebPay

"Bitcoin started the week with strong buying interest and continued its bullish momentum, breaking above the key $80,000 psychological resistance level and reaching a high of around $81,455. The rally extended the sharp recovery from the $62,000 area, with BTC gaining more than 23% during the previous weekly move. Strong institutional demand through spot Bitcoin ETFs, improving liquidity expectations, and short covering remained key drivers of the rally.

During the week, U.S. spot Bitcoin ETFs continued to attract strong inflows, with approximately $1.12 billion in net inflows recorded last week, further supporting the positive market sentiment and BTC's upward momentum.
BTC is currently trading around $77,647 and remains in the bullish zone following the strong weekly recovery. However, traders should closely watch the $80,000-$82,000 resistance zone. Holding above the $74,000-$75,000 support zone would keep the broader bullish structure intact, while a sustained breakout above $82,000 could provide fresh buying momentum and support further upside.

On Daily Chart, BTC, is trading above its 14-period and 21-period Simple Moving Averages (SMA) at $72,411 and $70,427, respectively, indicating that both moving averages continue to provide support and the broader price structure remains positive.
The RSI is at 68.91, indicating that bullish momentum is still present but is beginning to lose strength. The RSI is approaching the 70 level, so it will be important to watch whether it can sustain above 70 to confirm renewed bullish momentum. A decline from current levels could indicate increasing profit booking or short-term selling pressure.

The Stochastic Oscillator is at 52.48, showing that momentum has cooled significantly from the previous overbought conditions. This suggests that some profit booking has already taken place and the market may be entering a consolidation or re-accumulation phase before the next directional move.
Overall, BTC remains technically positive while trading above its key SMA support levels, but momentum indicators suggest some cooling in the short term.

Above $84,640 possibility of hitting $89,235 levels."

Shivani Nyati, Head of Wealth at Swastika Investmart LTD.

Augmont Enterprises made a strong debut at Rs 961, a 21.95% premium to its Rs 788 issue price. However, despite the strong listing, our view remains Neutral. The company's high revenue is largely driven by bullion trading volumes, while its PAT margin remains below 0.4%, leaving limited room for margin expansion. Moreover, promoter-group entity Riddisiddhi Bullions contributed around 27.44% of FY26 revenue, while the top 10 customers accounted for 52.09%, with no long-term contracts, highlighting concentration and governance risks. At the IPO price, valuations were already relatively rich at around 18.5-19.5x FY26 P/E and 6.8-7.1x P/B, making the post-listing premium less attractive for fresh buying. For allotted investors, we suggest to book partial profits and hold the half with a stop-loss of Rs 900. A sustained move above Rs 1,000 could support further upside, whereas a break below Rs 900 would warrant caution.

The Thesis
Domestic institutions absorbed every rupee of Friday's FII outflow - DII bought Rs 5,183 crore as foreign portfolios exited Rs 5,039 crore - a signal of conviction, not caution. IT services anchors the portfolio as USD/INR near 95.4 turns rupee softness into an export-margin tailwind; private banks and steel complete a cycle where Brent at $87.98 no longer threatens the industrials leg.

Where We're Concentrated
Technology exports, domestic credit growth, and industrial metals define the tilt - IT services on dollar-revenue upside, large private banks absorbing DII inflows, steel on capex execution as input costs ease. Auto adds a festive-season anchor. The thesis breaks on a GDP miss below 7% today - which pressures the financials weighting - or on a geopolitical flare-up that reverses Brent's descent and revives cost pressure.

Conviction Picks
Highest Conviction
HCL Technologies
USD/INR near 95.4 lifts dollar-revenue margins; large-deal pipeline insulates against near-term rate-cycle caution.
Kotak Mahindra Bank
DII-backed private bank with balance-sheet depth to absorb rate volatility; VIX at 10.68 keeps credit demand sticky.
JSW Steel
Capex cycle deepening as Brent eases to $88; domestic demand absorbs global growth caution and keeps steel volumes intact.
ICICI Bank
Broadest DII sponsorship in the private-banking cohort; credit offtake holds as growth runs at 7%-plus into the GDP print.
TVS Motor
Premium two-wheeler momentum ahead of the festive season; stable fuel costs and rural recovery widen operating margins.
One Thing to Watch
India Q1 GDP print at 5:30 p.m. today Consensus sits at ~7.1% against a 7.8% prior-quarter base; a beat holds the rate-sensitive bid alive and validates the private-bank weighting, while a miss below 7% risks unwinding the DII-led relief and pressuring the financials cohort.

BTC is traded for around $79K.  BTC has stabilized after last week's rejection from the $81,455 three-month high, suggesting buyers remain active around the $77,000-$78,000 region.  The broader backdrop remains constructive, supported by sustained institutional demand and an extended streak of U.S. spot Bitcoin ETF inflows. However, relatively subdued trading volumes indicate that momentum is not yet decisive. Near term, $80,000-$81,500 remains the key resistance zone, while $77,000 is the important support to watch.

Prateek Gupta, Head of Business, Mudrex

Bitcoin reversed from a near 30% monthly gain, down to the $77,500 range, after Fed Chair Kevin Warsh's Jackson Hole speech offered less support for a dovish policy shift than markets expected. September rate-hike odds jumped to 60%, weighing on Bitcoin and gold. The drop ended a historic run with Bitcoin ETFs posting a nine-day, $3-billion-plus inflow streak that briefly pushed total net assets above $100 billion for the first time, before Friday's reversal broke it with a $201.8 million outflow. That outflow looks Bitcoin-specific, though Ether ETFs still added $102.2 million the same day. Bitcoin now needs a monthly close above $80,000 to regain momentum, while $77,000 is the level to hold.

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Riya Sehgal, Research Analyst, Delta Exchange

Bitcoin and Ethereum began the week on a weaker note, with Bitcoin slipping below $78,000 and Ethereum underperforming after losing momentum above $2,500. Bitcoin is trading near $77,700, leaving the $77,000-$76,000 zone as a key support area. A decisive move below this range could increase selling pressure and trigger further profit-taking.
The decline comes after Bitcoin's strong August advance, which took the asset above $81,000. The latest pullback also comes alongside a shift in institutional flows. U.S. spot Bitcoin ETFs posted $201.9 million in net outflows on August 28, bringing an end to a nine-session inflow streak that had attracted approximately $2.8 billion.
Ethereum has faced heavier selling pressure, moving toward $2,400 after failing to hold the $2,500 level. Despite the price weakness, institutional interest in ETH remains firm. U.S. spot Ethereum ETFs recorded $102.1 million of net inflows on August 28, extending their positive flow streak to 10 consecutive sessions.
With uncertainty around the Federal Reserve's policy outlook still influencing risk assets, traders are now watching Bitcoin's ability to hold the upper-$70,000 range. A successful defense could support stabilization, while a break below key support may signal a deeper correction.

Gaurav Udani, Founder - Thincredblu Securities Pvt. Ltd. 

"Nifty is expected to open lower around 24,075, down nearly 100 points, indicating a cautious start after the recent volatility.

The index is now approaching a crucial support zone. 24,000-24,050 will be important to hold; a sustained break below this range could increase selling pressure and push Nifty towards lower levels.

On the upside, 24,250-24,350 will act as the immediate resistance zone. Any recovery towards these levels may face selling pressure unless the index shows strong follow-through buying.

The near-term outlook remains cautious, and traders should avoid aggressive buying at the open. It would be prudent to wait for stability around the support zone before taking fresh positions and maintain strict risk management."

Rajesh Palviya, Head of Research, Axis Direct

The Nifty 50 closed Friday 84.80 points higher at 24,175.65, recovering from an early low of 24,077 and ending near the session high after two consecutive declines. Bank Nifty was largely flat at 57,496. Global cues remain cautious after Wall Street ended lower following Fed Chair Kevin Warsh's Jackson Hole address, which was perceived as hawkish. The S&P 500 declined 0.25%, while the Nasdaq fell 0.52%, dragged by a 4.5% drop in Nvidia.

Geopolitical tensions have added to the risk-off mood. US strikes on Iranian rocket launchers near the Strait of Hormuz were followed by Iranian retaliation against American airbases in Jordan. Brent crude surged over 2% to above $90 a barrel in early Asian trade. Higher crude prices could add pressure on the rupee and margins of crude-sensitive sectors such as autos, paints and aviation. The last GIFT Nifty print at 24,244.5 points indicates a potentially volatile opening.

Technically, the Nifty's undertone remains defensive below 24,300, while a sustained move above this level could open the way towards 24,400. Immediate support is placed at 24,075, followed by 24,000 and 23,900. However, any meaningful de-escalation in geopolitical tensions that brings crude below $88 could support a continuation of Friday's recovery.

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Nischal Shetty, Founder, WazirX:

"China's manufacturing PMI improved to 49.8, while stronger Japanese production and retail sales supported economic confidence and crypto risk appetite. However, hawkish Jackson Hole signals raised September Fed hike expectations to 57%, lifting Treasury yields and the dollar. This could restrict liquidity, slow institutional capital rotation into Bitcoin and Ethereum, and increase pressure on altcoins. Higher oil prices also reinforced inflation concerns. Overall, Asian growth signals support crypto demand, but tighter financial conditions may limit broader market momentum in the near term.

Bitcoin trades near $77,728 with a constructive daily structure. Immediate support lies around $76,900-$77,200, while $78,300-$78,500 forms resistance. Holding support could sustain buyer control; clearing resistance may strengthen momentum, whereas losing support would shift attention toward the secondary $73,900-$74,000 zone.

Ethereum trades near $2,416 with a constructive daily structure. Immediate support sits around $2,400-$2,405, while $2,420-$2,460 forms resistance before the psychological $2,500 level. Futures traders may assess daily volume, open interest, and funding before treating any resistance test as confirmed.

Uniswap trades near $5.10 with a bullish daily structure, although RSI near 70 indicates stretched momentum. Immediate support lies around $5.00-$5.04, while $5.15-$5.20 forms resistance. Holding support could preserve buyer control; losing it would expose secondary support around $4.55-$4.60.

Global risk appetite remained selective as US equities posted limited declines, with the Dow nearly flat and the VIX easing by 0.55%, indicating contained volatility. Asian gains in the Sensex and Singapore market provided regional support despite weakness elsewhere. Gold fell 0.97%, suggesting limited movement toward traditional defensive assets, while oil rose 2.13%. Crypto's continued strength amid mixed equities highlights sustained participation and its growing appeal as investors diversify beyond conventional markets during the session.

Institutional demand remained strong as US spot Bitcoin ETFs attracted $924.48 million, despite Friday's $201.81 million outflow, while Ethereum ETFs added $824.42 million. Bitcoin traded near $77,728 after briefly exceeding $81,000, while Ethereum held around $2,416 despite its sustained inflow streak. The divergence shows that ETF buying supports underlying demand but may not immediately lift prices. Profit-taking, exchange selling, derivatives positioning, macro uncertainty, and resistance near key levels can temporarily offset institutional purchases across broader spot crypto markets."

At the close on Friday (August 28), the total market cap of all BSE Sensex companies stood at Rs 4,92,82,456.