BSE 200

Sensex jumped 938.93 points, closing at 75,502.85., Nifty rebounded above 23,300 after early losses., Market sentiment cautious due to high oil prices and tensions.

* Sensex jumped 938.93 points, closing at 75,502.85.
* Nifty rebounded above 23,300 after early losses.
* Market sentiment cautious due to high oil prices and tensions.

Indian equity markets rebounded over 1% on Monday after recent losses, driven by bargain buying in heavyweight stocks. Nifty closed at 23,408.80 and Sensex at 75,502.85, but sentiment remains cautious amid geopolitical tensions and high oil prices.

shorts/business/is-today-s-market-surge-sustainable-or-is-it-a-dead-cat-bounce-analysts-suggest-levels-to-confirm-trend-reversal

The domestic equity markets began the week on a volatile note and settled over 1 percent higher on Monday, snapping a recent losing streak on the back of bargain buying.

The Nifty opened flat after the steep correction seen in the previous three sessions and slipped in early trade. However, buying in select heavyweight stocks across sectors triggered a sharp rebound in the latter half of the session. The benchmark index eventually settled at 23,408.80 level.

The Sensex jumped 938.93 points or 1.26 percent to close at 75,502.85. During the day, the index touched a high of 75,805.27.

Market participants said the rebound largely reflected investors accumulating stocks at lower levels following the sharp decline in recent sessions.

However, the overall sentiment remained cautious amid continuing geopolitical tensions in West Asia and elevated crude oil prices, which have raised concerns over inflation and India’s import bill.

Ajit Mishra, SVP – Research at Religare Broking, said the rebound helped the Nifty move back above the 23,300 mark after testing sub-23,000 levels during the day.

&quot;However, participants should not read too much into a single-day bounce and should wait for sustainability of the move, as the index continues to trade below key resistance zones,&quot; he said.

According to Mishra, the 23,600–23,900 band is likely to act as an immediate hurdle, while the 22,900–23,000 zone will remain an important support area on the downside.

Om Mehra, Technical Research Analyst at SAMCO Securities, said the 23,700 level remains a crucial resistance.

&quot;A sustained move above this zone will be required for a stronger recovery. Until then, the current move appears to be a short-term relief rally rather than a trend reversal,&quot; he added.

Rupak De, Senior Technical Analyst at LKP Securities, said the Nifty witnessed a recovery as the index did not sustain below the 23,000 level and quickly moved back above it.

&quot;On the daily chart, the index has formed a piercing line pattern, which is a bullish reversal signal after a prolonged correction. Although the broader sentiment has not changed significantly, a near-term technical pullback cannot be ruled out,&quot; he said.

De added that the index may see a recovery towards the 23,800 level or higher. Immediate support is placed at 23,200 and a break below this level could lead to renewed weakness.

Meanwhile, Brent crude, the global oil benchmark, rose 1.41 percent to USD 104.4 per barrel.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Is today's market surge sustainable or is it a dead cat bounce? Analysts suggest levels to confirm trend reversal

Sensex jumps 938 points, Nifty closes above 23,400 after rebound, Auto, banking, FMCG stocks lead gains; midcap, smallcap fall, Over 800 stocks hit 52-week lows despite market recovery

* Sensex jumps 938 points, Nifty closes above 23,400 after rebound
* Auto, banking, FMCG stocks lead gains; midcap, smallcap fall
* Over 800 stocks hit 52-week lows despite market recovery

Indian benchmark indices rebounded after a three-day losing streak, with Nifty closing above 23,400 and Sensex up 939 points. Gains in auto, banking, and FMCG stocks led the recovery, while broader indices underperformed and over 800 stocks hit 52-week lows.

shorts/business/taking-stock-bulls-back-in-action-nifty-above-23-400-sensex-up-939-pts

After a three-day losing streak, Indian benchmark indices staged a strong rebound in a volatile session, with the Nifty 50 closing comfortably above the 23,400 mark, led by gains in auto, banking and FMCG stocks.

After a subdued start, Indian equity markets remained highly volatile throughout the session, oscillating between gains and losses. However, strong buying in the final hour helped benchmark indices erase intraday losses and close in positive territory.

At close, the Sensex was up 938.93 points or 1.26 percent at 75,502.85, and the Nifty was up 257.70 points or 1.11 percent at 23,408.80.

Broader indices underperformed the benchmarks, with the Nifty Midcap index falling 0.3%, while smallcap index declining 0.5%.

Also Read - Citi cuts Nifty target, warns Middle East war could squeeze growth, earnings and inflation

Biggest Nifty gainers included M&amp;amp;M, Grasim Industries, Trent, UltraTech Cement, HDFC Bank, while losers were Bharat Electronics, Wipro, Max Healthcare, Sun Pharma, Coal India.

On the sectoral front, auto, bank, FMCG, metal up 0.3-1%, while media, oil &amp;amp; gas, pharma, realty, capital goods down 0.5-2.7%.

Also Read - MC Exclusive: DBS Bank India to foray into equity capital markets business

In stock specific, HPCL, BPCL, IOC shares fall 3-4% post HSBC downgrades, Omnitech Engineering shares shed 1.5% after Q3 profit falls, IDBI Bank stock crashed 17% on reports of govt may scrap majority stake sale, Tejas Networks shares rose 5% on selecting for a 4G network expansion project in South Asia, Bajel Projects shares gained 20% on EPC contract win worth over Rs 700 crore, Izmo shares added 5% on partnership with CCRAFT and Alcyon Photonics.

Also Read - Startup IPO reality check: 8 of 15 listings from 2025 now trade below issue price

More than 800 stocks touched their 52-week low, including Gujarat Gas, Deepak Nitrite, AAVAS Financiers, Titagarh Rail Systems, Berger Paints, Triveni Turbine, Mahanagar Gas, Tata Chemicals, Chambal Fertilisers, Alok Industries, CE Info Systems, JK Lakshmi Cement, Bata India, Relaxo Footwear, PCBL Chemical, Gujarat State Petro, Trident, Ircon International, Mastek, ITC Hotels, among others. Click to View More

Also Read - India must develop longer tenure derivative contracts, says former SEBI WTM Ananth Narayan

Outlook for March 17

Gaurav Udani, Founder - Thincredblu Securities

Nifty staged a meaningful recovery today after briefly slipping to an intraday low of 22,955, eventually closing at 23,350, up about 200 points. The rebound was supported by relatively healthy volumes, suggesting that the 22,900–23,000 zone is emerging as an important near-term support area.

Such recoveries after sharp declines often indicate the presence of value buying at lower levels. However, the broader structure is yet to decisively turn bullish. On the upside, 23,600–23,700 remains a key resistance band, where the index may face supply on any further recovery.

In the current environment, markets are likely to remain sensitive to global developments and news flow, which could keep volatility elevated. Traders with a higher risk appetite may consider a buy-on-dips approach, but with 22,900 as a strict stop-loss, while maintaining disciplined risk management.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty witnessed a decent recovery as the index did not sustain below 23,000 and quickly moved back above this level. On the daily chart, the index has formed a piercing line pattern, which is a bullish reversal signal after a prolonged correction. Although the broader sentiment has not changed significantly, a near-term technical pullback cannot be ruled out.

On the higher side, the index may witness a recovery towards 23,800 or even higher. On the lower end, immediate support is placed at 23,200; a break below this level could push the index back into weakness.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Taking Stock: Bulls back in action; Nifty above 23,400, Sensex up 939 pts

Live: Late-recovery in markets, Nifty rises 1% led by bank, auto stocks | Closing Bell

Nomura cuts Nifty target for Dec 2026 to 24,900 citing war risks., Citi cuts Nifty target to 27,000 over oil price, supply worries., War in West Asia triggers market volatility and rupee record lows.

* Nomura cuts Nifty target for Dec 2026 to 24,900 citing war risks.
* Citi cuts Nifty target to 27,000 over oil price, supply worries.
* War in West Asia triggers market volatility and rupee record lows.

Nomura and Citi have cut their Nifty targets for December 2026, citing risks from the West Asia conflict and elevated oil prices. The war has caused market volatility, supply disruptions, and weakened the rupee, impacting growth and corporate earnings forecasts.

shorts/business/will-nifty-fall-up-to-15-by-2026-end-citi-nomura-see-headwinds-for-markets-on-us-iran-war-cut-targets

Brokerage firm Nomura has cut its target for the Nifty for December 2026 by 15 percent to 24,900 from 29,300 earlier, citing risks to consensus earnings estimates triggered by the ongoing war in West Asia.

In a note dated March 16, Nomura said elevated oil prices could pose a 10-15 percent downside risk to consensus earnings estimates for financial year 2027 if prices remain high, reported CNBC-TV-18.

Citi Research has also lowered its year-end target for the Nifty, citing rising risks to growth and corporate earnings as higher oil prices and supply disruptions from the escalating West Asia conflict cloud the outlook for Asia’s third-largest economy.

Citi has cut the target to 27,000 from 28,500 earlier, implying a 17 percent upside from the Nifty’s last close.

Citi estimates that three months of supply disruptions could shave 20-30 basis points off India’s growth in FY27, raise inflation by 50-75 basis points, widen the fiscal deficit by about 10 basis points and add USD 25 billion to the current account deficit.

The brokerage said the Reserve Bank of India (RBI) is likely to remain on pause in April, with the policy stance possibly tilting towards growth if fiscal measures absorb most of the inflationary pressures.

The US-Israeli war on Iran, now in its third week, has triggered volatility across global commodity, currency and equity markets.

The benchmarks Nifty and Sensex confirmed a technical correction last week, falling 10 percent from their record highs. Since the start of the conflict, both indices have declined about 8 percent as of Friday’s close, while the Indian rupee has weakened to record lows.

According to Citi, the conflict is shifting from a pure energy “price” shock to a broader “quantity” disruption, affecting supplies of LPG, LNG, fertilisers, petrochemicals and aluminium.

This is likely to raise input costs and disrupt availability across sectors including automobiles, construction, food, pharmaceuticals, paints and shipping.

Fertilisers and petrochemicals are the most exposed sectors, given India’s dependence on imports from the Middle East, the brokerage said.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Citi, Nomura see headwinds for Indian markets on US-Iran war, cut 2026-end Nifty targets by up to 15%

Sensex rose 700 points from day's low, Nifty crossed 23,000 mark, Value buying and lower India VIX boosted market sentiment, LPG carriers safely cross Strait of Hormuz, easing tensions

* Sensex rose 700 points from day's low, Nifty crossed 23,000 mark
* Value buying and lower India VIX boosted market sentiment
* LPG carriers safely cross Strait of Hormuz, easing tensions

Sensex and Nifty rebounded on March 16, with Sensex rising 700 points from its low and Nifty surpassing 23,200. The recovery was driven by value buying, a 3% drop in India VIX, and improved sentiment due to geopolitical relief in oil supply.

shorts/business/markets-in-green-sensex-rises-650-pts-from-day-s-low-nifty-above-23-150-key-reasons-behind-market-gains

Benchmark indices Sensex and Nifty closed in deep green on March 16 as value buying emerged from lower levels and markets snapped three-day losses.

Sensex closed 938.93 points or 1.26% higher at 75,502.85, and the Nifty ended 257.70 points or 1.11% higher at 23,408.80. About 1,410 shares advanced, 2,772 shares declined, and 157 shares were unchanged. The intraday high of Sensex was 75,805 while that of Nifty was 23,502.

Top private lender HDFC Bank rose 2.9%, while other index heavyweights such as Reliance Industries and ICICI Bank added 1% each.

Auto stocks, which lost 10.6% last week to post their worst performance in six years, gained 1.7% on the day.

On the day, nine of the 16 major sectors advanced, while the broader mid-caps and small-caps fell 0.3% and 0.5%, respectively.

From the 30 Sensex firms, UltraTech Cement surged 4.22 per cent. Trent, HDFC Bank, Mahindra &amp;amp; Mahindra, Eternal, Bajaj Finance, ITC, Tata Steel and State Bank of India were among the biggest gainers.

Bharat Electronics, Sun Pharma, Power Grid and Bharti Airtel were among the major laggards.

Key reasons behind market rebound

1) Value buying

Value buying was seen from lower levels on March 16 as Sensex rose 700 points from day's low and Nifty reclaimed the psychologically important 23,000-level. Metal, auto, banks, consumer durables, FMCG shares led the rebound in markets that were on course for fall for fourth consecutive session.

&quot;While the Middle East war is extremely bad for the global economy and stock markets, valuations have emerged appealing in domestic equities after the recent drop, providing attractive value-buying opportunities,&quot; said G Chokkalingam, founder and head of research at Equinomics Research.

&quot;The equity market staged a late-session rebound, supported by value buying in domestically oriented sectors such as auto, banking, and FMCG, a relief rally following the recent sell-off.

&quot;In the near term, investor sentiment will hinge on developments in the Strait of Hormuz, where any easing of supply chain disruptions could provide further support,&quot; Vinod Nair, Head of Research, Geojit Investments Limited, said.

2) India VIX eases

India VIX, the volatility gauge, eased nearly 5% to trade below 22 on March 16, thus indicating Street's expectations of lower selling pressure. However, VIX staying above 18 suggests near-term volatility, said analysts.

The Nifty traded in a range of 547 points, the highest in about six weeks, signalling elevated volatility in Monday's session.

3) Geopolitical relief

Sentiment improved after the Wall Street Journal reported that the U.S. government is preparing to announce that countries have agreed to form a coalition to escort ships through the Strait of Hormuz, a key chokepoint that handles 20% of global oil supply.

Meanwhile, two India-flagged liquefied petroleum gas carriers, Shivalik and Nanda Devi, carrying about 92,712 metric tons of LPG safely crossed the Strait last week en route to India, easing immediate concerns over supply disruptions.

India's foreign minister Subrahmanyam Jaishankar told the Financial Times in an interview published on Sunday that he was engaged in discussions with Iran and that &quot;talking has yielded some results.&quot;

Wall Street futures were trading in green on March 16 with Nasdaq minis rising up to 0.7% and Dow and S&amp;amp;P 500 minis rising 0.54% and 0.66%, respectively.

Rajesh Kumar Sinha, Special Secretary, Ministry of Ports Shipping and Waterways said on March 16, &quot;Shivalik carrier will reach India today at around 5 pm. Before its arrival, priority berthing has been arranged.&quot;

Technical View

&quot;Technically, on daily charts, the market has formed lower highs and lower lows, and on weekly charts, it formed a long bearish candle, which is largely negative. We believe that as long as the market is trading below 23,500/75,300, a weak formation is likely to continue. On the downside, the market could continue its correction wave until 22,800/73,600. Further downward movement may also continue, potentially dragging the index to 22,600/73,000,&quot; said Shrikant Chouhan, Head Equity Research, Kotak Securities.

&quot;Nifty monthly options chain, reveal a structural bearish shift, as Call resistance solidified at 24,000–24,500 while Put concentration migrated downward from 24,000 to the 22,000–23,000 zone, signaling significant long-unwinding and a widening trading range with an immediate downward bias toward the 23,000 support. Based on the data, we project the Nifty futures to trade between 22,000 and 24,000 in the week ahead,&quot; said Axis Securities.

With inputs from Reuters

Markets snap 3-day losses: Sensex soars over 900 pts, Nifty ends above 23,400; key reasons behind sharp gains

12 out of 18 years BSE 200 has given positive returns in March.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	10,735.08	10,828.23	10,969.77	10,593.54	10,500.39	10,358.85	10,265.70
Fibonacci	10,683.19	10,738.58	10,828.23	10,593.54	10,503.89	10,448.50	10,358.85
Camarilla	10,663.45	10,684.97	10,706.48	10,593.54	10,620.43	10,598.91	10,577.40

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