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The increasing impact of weak global signals hampered the ability of domestic markets to recover, resulting in continued selling pressure. The Fed's release of minutes revealed a mixed stance among its members on the need for further rate hikes, in contrast to the previously expected interest rate pause. At the same time, the Indian rupee fell as the dollar index topped 103; However, the likely RBI intervention offered some support. Additionally, the rise in US bond yields is expected to limit the inflow of foreign investment into the Indian market and further influence market dynamics. Benchmark indices ended lower on August 17 with the Nifty below 19400 amid selling across all sectors except PSU banks. At the close, the Sensex was down 388 points,to 65151 and the Nifty was down 99 points, to 19365.The Nifty had a weak trading day today. It opened on a negative note and continued to trend lower throughout the day to close around 100 points down. Looking at the daily charts, we can observe that the Nifty has been range bound between 19300 and 19500 for the last three trading sessions. On the other hand, the 19350-19450 zone, where support is placed in the form of the 40-day moving average and daily lower Bollinger Band, acts as crucial support, while the 19550-19650 zone, where the falling resistance trend line acts as resistance . Thus, the Nifty consolidates between these two parameters. The daily and hourly momentum indicators are showing a negative crossover, which is a sell signal. Overall, there are no signs of a turnaround and therefore the short-term outlook is negative. On the other hand, we expect the Nifty to target a 19200 level. Bank Nifty closed in the red for the sixth straight year. It has reached the 20-week moving average (43850) and hence the decline from current levels may not be severe. The trend is still negative but oversold and we can see divergence on the hourly charts, suggesting that a fall is possible in the next few trading sessions. The pullback can reach 44200-44600.