NIFTY Commodities

Strong follow-up buying interest is required for further market uptrend, 24,300–24,500 zone expected to act as an immediate crucial resistance for Nifty, On downside, immediate key support is placed at 24,000

* Strong follow-up buying interest is required for further market uptrend
* 24,300–24,500 zone expected to act as an immediate crucial resistance for Nifty
* On downside, immediate key support is placed at 24,000

shorts/business/trade-setup-for-march-11-top-15-things-to-know-before-the-opening-bell-as-oil-stays-below-100-on-iran-war-de-escalation-hopes

* Strong follow-up buying interest is required for further market uptrend
* 24,300–24,500 zone expected to act as an immediate crucial resistance for Nifty
* On downside, immediate key support is placed at 24,000

The Nifty 50 rebounded as the market was oversold after a two-day bear trap, rising nearly 1 percent on March 10 amid improving global sentiment. Comments by Donald Trump raised hopes of de-escalation in a potential Iran war situation, resulting in a sharp fall in oil prices, which are quoting well below $100 a barrel, along with a cooling India VIX. However, strong follow-up buying interest is required for a further market uptrend. If that comes true in the next few sessions, the 24,300–24,500 zone is expected to act as an immediate crucial resistance for the Nifty, followed by 24,700. On the downside, the immediate key support is placed at 24,000, according to experts.

<img class="alignnone size-full wp-image-13856448 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310171735_Image110032026.jpg" alt="Image110032026" width="1281" height="688" />

Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The <a href="https://www.moneycontrol.com/indian-indices/nifty-50-9.html" target="_blank">Nifty 50</a> (24,262)

Resistance based on pivot points: 24,301, 24,353, and 24,439

Support based on pivot points: 24,130, 24,077, and 23,991

Special Formation: The Nifty 50 formed a small-bodied bearish candle with a long lower shadow, resembling a Doji-like candlestick pattern on the daily timeframe (though not a classical one). This indicates indecision among bulls and bears despite the rally and suggests the presence of strong overhead resistance around the 24,400–24,500 levels. The index still sustains below the upward-sloping trendline (which previously acted as support and is now acting as resistance), while closing within Monday's long bearish gap. The Relative Strength Index (RSI) rose to 34.22 after being in the oversold zone but remained below the signal line. The histogram weakness faded, but the MACD remained below the reference and zero lines. All this indicates that the market is attempting to stabilise but lacks strong bullish confirmation so far.

2) Key Levels For The <a href="https://www.moneycontrol.com/indian-indices/nifty-bank-23.html" target="_blank">Bank Nifty</a> (56,951)

Resistance based on pivot points: 57,083, 57,250, and 57,522

Support based on pivot points: 56,541, 56,373, and 56,102

Resistance based on Fibonacci retracement: 57,751, 58,517

Support based on Fibonacci retracement: 56,711, 55,328

Special Formation: The Nifty Bank also saw a gap-up opening and rallied 1.66 percent, forming a bullish candle on the daily charts. However, it remained below the lower Bollinger Bands and the 200-day EMA. The 20-, 50-, and 100-day EMAs continued to trend downward, indicating a broader weak structure. The RSI climbed to 33.24 but remained below the reference line. The Stochastic RSI stayed sideways in oversold levels, while the MACD maintained a sell signal with further expansion in the red bars of the histogram. All this indicates that the broader trend still remains weak despite the short-term bounce.

<img class="alignnone size-full wp-image-13856449 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310171754_Image210032026.jpg" alt="Image210032026" width="1281" height="688" />

3) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Nifty Call Options Data</a>

According to the weekly options data, the 25,000 strike holds the maximum Call open interest (with 40.57 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,500 strike (23.67 lakh contracts) and 24,800 strike (17.72 lakh contracts).

Maximum Call writing was observed at the 25,000 strike, which saw an addition of 18.08 lakh contracts, followed by the 24,300 and 24,800 strikes, which added 13.18 lakh and 9.8 lakh contracts, respectively. The maximum Call unwinding was seen at the 23,900 strike, which shed 1.6 lakh contracts, followed by the 24,100 and 23,800 strikes, which shed 1.38 lakh and 1.33 lakh contracts, respectively.

<img class="alignnone size-full wp-image-13856450 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310171811_Image610032026.jpg" alt="Image610032026" width="1254" height="345" />

4) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Nifty Put Options Data</a>

On the Put side, the maximum Put open interest was seen at the 24,000 strike (with 29.79 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 24,200 strike (20.32 lakh contracts) and the 24,300 strike (17.27 lakh contracts).

The maximum Put writing was placed at the 24,200 strike, which saw an addition of 18.38 lakh contracts, followed by the 24,000 and 24,300 strikes, which added 14.48 lakh and 14.35 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,700 strike, which shed 85,540 contracts, followed by the 24,650 strike, which shed 22,230 contracts.

<img class="alignnone size-full wp-image-13856451 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310171833_Image710032026.jpg" alt="Image710032026" width="1250" height="342" />

5) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Bank Nifty Call Options Data</a>

According to the monthly options data, the 58,000 strike holds the maximum Call open interest, with 4.57 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 58,500 strike (3.54 lakh contracts) and the 57,000 strike (3.24 lakh contracts).

Maximum Call writing was observed at the 57,000 strike (with the addition of 1.03 lakh contracts), followed by the 56,800 strike (82,440 contracts) and 56,900 strike (64,170 contracts). The maximum Call unwinding was seen at the 56,000 strike, which shed 98,430 contracts, followed by the 56,300 and 56,200 strikes, which shed 24,810 and 21,690 contracts, respectively.

<img class="alignnone size-full wp-image-13856452 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310171850_Image810032026.jpg" alt="Image810032026" width="1252" height="341" />

6) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Bank Nifty Put Options Data</a>

On the Put side, the maximum Put open interest was seen at the 56,000 strike (with 6.35 lakh contracts), which can act as a key support level for the index. This was followed by the 57,000 strike (5.02 lakh contracts) and the 58,000 strike (4.3 lakh contracts).

The maximum Put writing was placed at the 57,000 strike (which added 1.51 lakh contracts), followed by the 56,000 (1.3 lakh contracts) and 56,800 (96,510 contracts). The maximum Put unwinding was seen at the 56,200 strike, which shed 20,100 contracts, followed by the 58,300 and 58,500 strikes, which shed 16,170 and 11,425 contracts, respectively.

<img class="alignnone size-full wp-image-13856453 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310171938_Image910032026.jpg" alt="Image910032026" width="1255" height="344" />

7) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Funds Flow (Rs crore)</a>

<img class="alignnone size-full wp-image-13856454 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310171955_Image510032026.jpg" alt="Image510032026" width="797" height="361" />

8) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Put-Call Ratio</a>

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 1.03 on March 10, compared to a 0.99 in previous session.

The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.

<img class="alignnone size-full wp-image-13856455 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310172012_Image310032026.jpg" alt="Image310032026" width="1250" height="505" />

9) <a href="https://www.moneycontrol.com/indian-indices/india-vix-36.html" target="_blank">India VIX</a>

The India VIX, which measures expected market volatility, plunged 19.08 percent to 18.9, signalling comfort for bulls. Despite this cooling, the VIX remains at elevated levels and needs a further gradual fall for bulls to return in strong action.

<img class="alignnone size-full wp-image-13856456 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310172028_Image410032026.jpg" alt="Image410032026" width="1281" height="688" />

10) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Build-up (102 Stocks)</a>

A long build-up was seen in 102 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

<img class="alignnone size-full wp-image-13856458 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310172126_Image1010032026.jpg" alt="Image1010032026" width="548" height="235" />

11) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Unwinding (8 Stocks)</a>

8 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.

<img class="alignnone size-full wp-image-13856459 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310172141_Image1110032026.jpg" alt="Image1110032026" width="553" height="193" />

12) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short Build-up (12 Stocks)</a>

12 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.

<img class="alignnone size-full wp-image-13856460 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310172156_Image1210032026.jpg" alt="Image1210032026" width="544" height="235" />

13) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short-Covering (88 Stocks)</a>

88 stocks saw short-covering, meaning a decrease in OI, along with a price increase.

<img class="alignnone size-full wp-image-13856461 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310172211_Image1310032026.jpg" alt="Image1310032026" width="556" height="235" />

14) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">High Delivery Trades</a>

Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock.

<img class="alignnone size-full wp-image-13856462 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/03/20260310172228_Image1410032026.jpg" alt="Image1410032026" width="739" height="235" />

15) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Stocks Under F&amp;O Ban</a>

Securities banned under the F&amp;O segment include companies where derivative contracts cross 95 percent of the market-wide position limit.

Stocks added to F&amp;O ban: Nil

Stocks retained in F&amp;O ban: SAIL, Sammaan Capital

Stocks removed from F&amp;O ban: Nil

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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Trade setup for March 11: Top 15 things to know before the opening bell as oil stays below $100 on Iran war de-escalation hopes

The Nifty 50 rebounded as the market was oversold after a two-day bear trap, rising nearly 1 percent on March 10 amid improving global sentiment. Comments by Donald Trump raised hopes of de-escalation in a potential Iran war situation, resulting in a sharp fall in oil prices, which are quoting well below $100 a barrel, along with a cooling India VIX. However, strong follow-up buying interest is required for a further market uptrend. If that comes true in the next few sessions, the 24,300–24,500 zone is expected to act as an immediate crucial resistance for the Nifty, followed by 24,700. On the downside, the immediate key support is placed at 24,000, according to experts.



Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The Nifty 50 (24,262)

Resistance based on pivot points: 24,301, 24,353, and 24,439

Support based on pivot points: 24,130, 24,077, and 23,991

Special Formation: The Nifty 50 formed a small-bodied bearish candle with a long lower shadow, resembling a Doji-like candlestick pattern on the daily timeframe (though not a classical one). This indicates indecision among bulls and bears despite the rally and suggests the presence of strong overhead resistance around the 24,400–24,500 levels. The index still sustains below the upward-sloping trendline (which previously acted as support and is now acting as resistance), while closing within Monday's long bearish gap. The Relative Strength Index (RSI) rose to 34.22 after being in the oversold zone but remained below the signal line. The histogram weakness faded, but the MACD remained below the reference and zero lines. All this indicates that the market is attempting to stabilise but lacks strong bullish confirmation so far.

2) Key Levels For The Bank Nifty (56,951)

Resistance based on pivot points: 57,083, 57,250, and 57,522

Support based on pivot points: 56,541, 56,373, and 56,102

Resistance based on Fibonacci retracement: 57,751, 58,517

Support based on Fibonacci retracement: 56,711, 55,328

Special Formation: The Nifty Bank also saw a gap-up opening and rallied 1.66 percent, forming a bullish candle on the daily charts. However, it remained below the lower Bollinger Bands and the 200-day EMA. The 20-, 50-, and 100-day EMAs continued to trend downward, indicating a broader weak structure. The RSI climbed to 33.24 but remained below the reference line. The Stochastic RSI stayed sideways in oversold levels, while the MACD maintained a sell signal with further expansion in the red bars of the histogram. All this indicates that the broader trend still remains weak despite the short-term bounce.



3) Nifty Call Options Data

According to the weekly options data, the 25,000 strike holds the maximum Call open interest (with 40.57 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 24,500 strike (23.67 lakh contracts) and 24,800 strike (17.72 lakh contracts).

Maximum Call writing was observed at the 25,000 strike, which saw an addition of 18.08 lakh contracts, followed by the 24,300 and 24,800 strikes, which added 13.18 lakh and 9.8 lakh contracts, respectively. The maximum Call unwinding was seen at the 23,900 strike, which shed 1.6 lakh contracts, followed by the 24,100 and 23,800 strikes, which shed 1.38 lakh and 1.33 lakh contracts, respectively.



4) Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 24,000 strike (with 29.79 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 24,200 strike (20.32 lakh contracts) and the 24,300 strike (17.27 lakh contracts).

The maximum Put writing was placed at the 24,200 strike, which saw an addition of 18.38 lakh contracts, followed by the 24,000 and 24,300 strikes, which added 14.48 lakh and 14.35 lakh contracts, respectively. The maximum Put unwinding was seen at the 24,700 strike, which shed 85,540 contracts, followed by the 24,650 strike, which shed 22,230 contracts.



5) Bank Nifty Call Options Data

According to the monthly options data, the 58,000 strike holds the maximum Call open interest, with 4.57 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 58,500 strike (3.54 lakh contracts) and the 57,000 strike (3.24 lakh contracts).

Maximum Call writing was observed at the 57,000 strike (with the addition of 1.03 lakh contracts), followed by the 56,800 strike (82,440 contracts) and 56,900 strike (64,170 contracts). The maximum Call unwinding was seen at the 56,000 strike, which shed 98,430 contracts, followed by the 56,300 and 56,200 strikes, which shed 24,810 and 21,690 contracts, respectively.



6) Bank Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 56,000 strike (with 6.35 lakh contracts), which can act as a key support level for the index. This was followed by the 57,000 strike (5.02 lakh contracts) and the 58,000 strike (4.3 lakh contracts).

The maximum Put writing was placed at the 57,000 strike (which added 1.51 lakh contracts), followed by the 56,000 (1.3 lakh contracts) and 56,800 (96,510 contracts). The maximum Put unwinding was seen at the 56,200 strike, which shed 20,100 contracts, followed by the 58,300 and 58,500 strikes, which shed 16,170 and 11,425 contracts, respectively.



7) Funds Flow (Rs crore)



8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, climbed to 1.03 on March 10, compared to a 0.99 in previous session.

The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.



9) India VIX

The India VIX, which measures expected market volatility, plunged 19.08 percent to 18.9, signalling comfort for bulls. Despite this cooling, the VIX remains at elevated levels and needs a further gradual fall for bulls to return in strong action.



10) Long Build-up (102 Stocks)

A long build-up was seen in 102 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.



11) Long Unwinding (8 Stocks)

8 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.



12) Short Build-up (12 Stocks)

12 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.



13) Short-Covering (88 Stocks)

88 stocks saw short-covering, meaning a decrease in OI, along with a price increase.



14) High Delivery Trades

Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock.



15) Stocks Under F&amp;amp;O Ban

Securities banned under the F&amp;amp;O segment include companies where derivative contracts cross 95 percent of the market-wide position limit.

Stocks added to F&amp;amp;O ban: Nil

Stocks retained in F&amp;amp;O ban: SAIL, Sammaan Capital

Stocks removed from F&amp;amp;O ban: Nil

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

India VIX falls sharply by 19.08% to 18.9, signalling some comfort for bulls, Weekly options data suggests 24,000-24,500 range for Nifty 50 in short term, Stronger bullish view would emerge only after Bank Nifty reclaims its 50-day MA

* India VIX falls sharply by 19.08% to 18.9, signalling some comfort for bulls
* Weekly options data suggests 24,000-24,500 range for Nifty 50 in short term
* Stronger bullish view would emerge only after Bank Nifty reclaims its 50-day MA

shorts/business/technical-view-strong-follow-up-buying-needed-to-push-nifty-above-24-500-oil-correction-cools-vix-57-500-key-for-bank-nifty

* India VIX falls sharply by 19.08% to 18.9, signalling some comfort for bulls
* Weekly options data suggests 24,000-24,500 range for Nifty 50 in short term
* Stronger bullish view would emerge only after Bank Nifty reclaims its 50-day MA

The Nifty 50 bounced back and snapped a two-day sharp losing streak on March 10, soaring nearly 1 percent after a gap-up opening and entering the long bearish gap of the previous session. The rebound was on expected lines after oversold indications from momentum and technical indicators. The steep fall in oil prices, which traded below the $100-a-barrel mark, and the sharp downtrend in India VIX lifted market sentiment.

However, consistent follow-up buying interest is needed for market stability from here, as traders closely watch developments in the Middle East and oil prices remain at elevated levels despite the sharp correction. Overall, consolidation with range-bound trading may continue for a few sessions before confirmation of the next trend.

The Nifty 50 needs to close strongly above 24,350–24,500 (which coincides with the upward-sloping resistance trendline that earlier acted as a support line, and above the high of the previous day's bearish gap) for a move toward the 24,850–25,000 zone. However, 24,050–24,000 can act as immediate support, followed by 23,700 as a crucial support area, according to experts.

The Nifty 50 opened more than 250 points higher and remained in positive territory throughout the session. The index rallied 234 points (0.97 percent) to 24,262 and formed a small-bodied bearish candle with a long lower shadow, resembling a Doji-like candlestick pattern (not a classical one) on the daily charts.

The formation of this candlestick pattern is not a bullish sign ahead and indicates the presence of strong overhead resistance around the 24,400–24,500 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the short-term trend of the Nifty is positive, but the overall medium-term trend remains choppy with a weak bias. “There is a higher possibility of the market coming down from near the crucial hurdle in the next few sessions,” he said.

The daily RSI also saw a mild rebound to 34.22, reflecting stabilisation in momentum after recent volatility, but it still remains below the reference line. The histogram bar signals fading bearish momentum, though the MACD remains below the reference and zero lines.

“24,350–24,450 remains a key resistance band. A decisive close above 24,450 would be important to confirm further upside momentum and could open room for the index to move toward the 24,800–24,900 zone in the near term,” said Gaurav Udani, Founder of Thincredblu Securities.

Meanwhile, the fear gauge India VIX fell sharply by 19.08 percent to 18.9, signalling some comfort for bulls. However, it needs to extend its downtrend in the upcoming sessions to bring bulls back into a stronger comfort zone.

The weekly options data suggests that 24,000 is expected to act as support for the Nifty 50, with resistance at the 24,300–24,500 zone in the short term.

The maximum Call open interest was observed at the 25,000 strike, followed by the 24,500 and 24,300 strikes, with the maximum Call writing at the 25,000, 24,300, and 24,800 strikes. Meanwhile, the 24,000 strike holds the maximum Put open interest, followed by the 24,200 and 24,300 strikes, with the maximum Put writing at the 24,200, 24,300, and 24,000 strikes.

Bank Nifty

The Bank Nifty rebounded sharply and outperformed the benchmark Nifty 50 after breaking below its rising trendline and slipping under the 200-day moving average, as the RSI had entered the oversold zone, indicating a possible technical pullback.

The banking index surged 931 points (1.66 percent) to 56,951, forming a bullish candle on the daily timeframe after a gap-up opening. It surpassed the 57,000 zone by touching an intraday high of 57,097.

The RSI rose to 33.24 but remains well below the signal line. The MACD continues to maintain a sell signal with further red bar expansion in the histogram, while the Stochastic RSI remains range-bound in the lower zone.

According to Vatsal Bhuva, Technical Analyst at LKP Securities, in the short term, the banking index is expected to test its 200-day moving average resistance placed near 57,500. Sustaining above this level could lead to further recovery.

“A stronger bullish view would emerge only after the index reclaims its 50-day moving average. Until then, a cautious stance is advisable, with support at 56,200 and resistance at 57,500,” he said.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Technical View: Strong follow-up buying needed to push Nifty above 24,500; oil correction cools VIX, 57,500 key for Bank Nifty

The Nifty 50 bounced back and snapped a two-day sharp losing streak on March 10, soaring nearly 1 percent after a gap-up opening and entering the long bearish gap of the previous session. The rebound was on expected lines after oversold indications from momentum and technical indicators. The steep fall in oil prices, which traded below the $100-a-barrel mark, and the sharp downtrend in India VIX lifted market sentiment.

However, consistent follow-up buying interest is needed for market stability from here, as traders closely watch developments in the Middle East and oil prices remain at elevated levels despite the sharp correction. Overall, consolidation with range-bound trading may continue for a few sessions before confirmation of the next trend.

The Nifty 50 needs to close strongly above 24,350–24,500 (which coincides with the upward-sloping resistance trendline that earlier acted as a support line, and above the high of the previous day's bearish gap) for a move toward the 24,850–25,000 zone. However, 24,050–24,000 can act as immediate support, followed by 23,700 as a crucial support area, according to experts.

The Nifty 50 opened more than 250 points higher and remained in positive territory throughout the session. The index rallied 234 points (0.97 percent) to 24,262 and formed a small-bodied bearish candle with a long lower shadow, resembling a Doji-like candlestick pattern (not a classical one) on the daily charts.

The formation of this candlestick pattern is not a bullish sign ahead and indicates the presence of strong overhead resistance around the 24,400–24,500 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the short-term trend of the Nifty is positive, but the overall medium-term trend remains choppy with a weak bias. “There is a higher possibility of the market coming down from near the crucial hurdle in the next few sessions,” he said.

The daily RSI also saw a mild rebound to 34.22, reflecting stabilisation in momentum after recent volatility, but it still remains below the reference line. The histogram bar signals fading bearish momentum, though the MACD remains below the reference and zero lines.

“24,350–24,450 remains a key resistance band. A decisive close above 24,450 would be important to confirm further upside momentum and could open room for the index to move toward the 24,800–24,900 zone in the near term,” said Gaurav Udani, Founder of Thincredblu Securities.

Meanwhile, the fear gauge India VIX fell sharply by 19.08 percent to 18.9, signalling some comfort for bulls. However, it needs to extend its downtrend in the upcoming sessions to bring bulls back into a stronger comfort zone.

The weekly options data suggests that 24,000 is expected to act as support for the Nifty 50, with resistance at the 24,300–24,500 zone in the short term.

The maximum Call open interest was observed at the 25,000 strike, followed by the 24,500 and 24,300 strikes, with the maximum Call writing at the 25,000, 24,300, and 24,800 strikes. Meanwhile, the 24,000 strike holds the maximum Put open interest, followed by the 24,200 and 24,300 strikes, with the maximum Put writing at the 24,200, 24,300, and 24,000 strikes.

Bank Nifty

The Bank Nifty rebounded sharply and outperformed the benchmark Nifty 50 after breaking below its rising trendline and slipping under the 200-day moving average, as the RSI had entered the oversold zone, indicating a possible technical pullback.

The banking index surged 931 points (1.66 percent) to 56,951, forming a bullish candle on the daily timeframe after a gap-up opening. It surpassed the 57,000 zone by touching an intraday high of 57,097.

The RSI rose to 33.24 but remains well below the signal line. The MACD continues to maintain a sell signal with further red bar expansion in the histogram, while the Stochastic RSI remains range-bound in the lower zone.

According to Vatsal Bhuva, Technical Analyst at LKP Securities, in the short term, the banking index is expected to test its 200-day moving average resistance placed near 57,500. Sustaining above this level could lead to further recovery.

“A stronger bullish view would emerge only after the index reclaims its 50-day moving average. Until then, a cautious stance is advisable, with support at 56,200 and resistance at 57,500,” he said.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Sensex and Nifty rebounded after two days of selling., Broader indices outperformed, with Midcap and Smallcap rising., Auto, Consumer Durables, and PSU Bank indices saw strong gains.

* Sensex and Nifty rebounded after two days of selling.
* Broader indices outperformed, with Midcap and Smallcap rising.
* Auto, Consumer Durables, and PSU Bank indices saw strong gains.

Indian benchmark indices rebounded on March 10 after US President Trump hinted at ending military operations in Iran, easing crude prices. Sensex rose 639.82 points, Nifty 233.55. Broader indices outperformed; most sectors gained except IT and oil & gas.

shorts/business/taking-stock-markets-rebound-on-hopes-of-de-escalation-nifty-above-24-250-sensex-up-640-pts

* Sensex and Nifty rebounded after two days of selling.
* Broader indices outperformed, with Midcap and Smallcap rising.
* Auto, Consumer Durables, and PSU Bank indices saw strong gains.

After two days of strong selling, the Indian benchmark indices witnessed a relief rally on March 10 amid hopes of geopolitical de-escalation after US President Donald Trump hinted that US military operations in Iran could be coming to an end, which led to a fall in crude oil prices.

At close, the Sensex was up 639.82 points or 0.82 percent at 78,205.98, and the Nifty was up 233.55 points or 0.97 percent at 24,261.60.

Broader indices outperformed the main indices with Nifty Midcap index adding 1.6 percent and Smallcap indices rising 2 percent.

The total market capitalisation of BSE-listed companies surged by Rs 6.5 lakh crore to Rs 447.59 lakh crore.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/retail-investors-and-mutual-funds-now-own-36-of-nifty-50-free-float-says-sebi-chief-13855369.html">Retail investors and mutual funds now own 36% of Nifty 50 free float, says SEBI chief</a>

Biggest Nifty gainers were Shriram Finance, Interglobe Aviation, Eicher Motors, Tata Motors Passenger Vehicle, M&amp;M, while losers included Infosys, Eternal, Bharti Airtel, ONGC, Reliance Industries.

Among sectors, except IT and oil &amp; gas all other indices ended in the green with Auto index rose 3 percent, Consumer Durables index added 2.6 percent, PSU Bank index rose 2.2 percent.

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/geopolitical-shocks-trigger-sharp-market-corrections-followed-by-strong-rebounds-13855095.html">Geopolitical shocks trigger sharp market corrections followed by strong rebounds</a>

In stock specific, Dixon Technologies shares added 12% on government approval for HKC Overseas investment in display arm, Uno Minda shares rose 3% after Jefferies initiates 'buy' rating, Minda Corporation shares gained nearly 2% on signing JV agreement with Turntide Drives, Solex Energy shares surged 6% on capacity addition approval, Cyient shares gained 5% on strategic partnership with Prospecta.

Hinduja Global Solutions shares surged 9% after arm signs MoU with State Transformation Commission, UP, Marine Electricals (India) share price rose nearly 2% on orders win of Rs 27.21 crore, Borosil shares added 12% after board approves to set-up of a new manufacturing facility at Bharuch expansion of the production capacity at Jaipur plant, Ramco System shares rose 6.5% on selecting by Tata Advanced Systems.

Also Read - <a href="https://www.moneycontrol.com/news/business/personal-finance/oil-shock-market-slide-why-investors-shouldn-t-panic-during-corrections-13855158.html">Oil shock, market slide: Why investors shouldn’t panic during corrections</a>

More than 220 stocks touched their 52-week low, including Sapphire Foods, Jubilant Pharmova, TCS, Bajaj Holdings, Devyani International, Amara Raja, Bata India, Procter and Gamble Hygiene and Health Care, Gujarat Gas, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-low-bse/?indexName=BSE%2520500&amp;id=12">Click to View More</a>

Also Read - <a href="https://www.moneycontrol.com/news/business/markets/india-silver-etfs-see-first-net-outflow-in-28-months-in-february-13855890.html">India silver ETFs see first net outflow in 28 months in February</a>

Outlook for March 11

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty staged a decent recovery and ended the day with gains after a volatile session. However, the index appears to be approaching a resistance zone, and the 24300–24350 range could act as an area where sellers may look to re-enter the market.

Overall, the sell-on-rise scenario is likely to persist. On the downside, immediate support is placed at 24150; a break below this level could trigger renewed selling pressure. If the index slips below 24150, it may decline further towards 23800.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On Tuesday, the benchmark index Nifty opened with a gap up as global crude oil prices corrected sharply after briefly touching a high of $116.19 per barrel. Post the positive opening, the Nifty slipped to an intraday low of 24080, but the index then moved into a steady upward trajectory, indicating renewed buying participation. It eventually closed at 24261.60, registering a gain of nearly 1%. The daily chart shows a small bodied candle with a long lower shadow, highlighting demand at lower levels. The daily RSI also saw a mild rebound, reflecting stabilisation in momentum after recent volatility.

Going ahead, the zone of 24370-24400 will act as an important hurdle for the index. Any sustainable move above 24400 will lead to extension of pullback rally upto the 24650 level. On the downside, the 24160–24130 zone will act as immediate support for the index.

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: Markets rebound on hopes of de-escalation; Nifty above 24,250, Sensex up 640 pts

After two days of strong selling, the Indian benchmark indices witnessed a relief rally on March 10 amid hopes of geopolitical de-escalation after US President Donald Trump hinted that US military operations in Iran could be coming to an end, which led to a fall in crude oil prices.

At close, the Sensex was up 639.82 points or 0.82 percent at 78,205.98, and the Nifty was up 233.55 points or 0.97 percent at 24,261.60.

Broader indices outperformed the main indices with Nifty Midcap index adding 1.6 percent and Smallcap indices rising 2 percent.

The total market capitalisation of BSE-listed companies surged by Rs 6.5 lakh crore to Rs 447.59 lakh crore.

Also Read - Retail investors and mutual funds now own 36% of Nifty 50 free float, says SEBI chief

Biggest Nifty gainers were Shriram Finance, Interglobe Aviation, Eicher Motors, Tata Motors Passenger Vehicle, M&amp;amp;M, while losers included Infosys, Eternal, Bharti Airtel, ONGC, Reliance Industries.

Among sectors, except IT and oil &amp;amp; gas all other indices ended in the green with Auto index rose 3 percent, Consumer Durables index added 2.6 percent, PSU Bank index rose 2.2 percent.

Also Read - Geopolitical shocks trigger sharp market corrections followed by strong rebounds

In stock specific, Dixon Technologies shares added 12% on government approval for HKC Overseas investment in display arm, Uno Minda shares rose 3% after Jefferies initiates 'buy' rating, Minda Corporation shares gained nearly 2% on signing JV agreement with Turntide Drives, Solex Energy shares surged 6% on capacity addition approval, Cyient shares gained 5% on strategic partnership with Prospecta.

Hinduja Global Solutions shares surged 9% after arm signs MoU with State Transformation Commission, UP, Marine Electricals (India) share price rose nearly 2% on orders win of Rs 27.21 crore, Borosil shares added 12% after board approves to set-up of a new manufacturing facility at Bharuch expansion of the production capacity at Jaipur plant, Ramco System shares rose 6.5% on selecting by Tata Advanced Systems.

Also Read - Oil shock, market slide: Why investors shouldn’t panic during corrections

More than 220 stocks touched their 52-week low, including Sapphire Foods, Jubilant Pharmova, TCS, Bajaj Holdings, Devyani International, Amara Raja, Bata India, Procter and Gamble Hygiene and Health Care, Gujarat Gas, among others. Click to View More

Also Read - India silver ETFs see first net outflow in 28 months in February

Outlook for March 11

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty staged a decent recovery and ended the day with gains after a volatile session. However, the index appears to be approaching a resistance zone, and the 24300–24350 range could act as an area where sellers may look to re-enter the market.

Overall, the sell-on-rise scenario is likely to persist. On the downside, immediate support is placed at 24150; a break below this level could trigger renewed selling pressure. If the index slips below 24150, it may decline further towards 23800.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On Tuesday, the benchmark index Nifty opened with a gap up as global crude oil prices corrected sharply after briefly touching a high of $116.19 per barrel. Post the positive opening, the Nifty slipped to an intraday low of 24080, but the index then moved into a steady upward trajectory, indicating renewed buying participation. It eventually closed at 24261.60, registering a gain of nearly 1%. The daily chart shows a small bodied candle with a long lower shadow, highlighting demand at lower levels. The daily RSI also saw a mild rebound, reflecting stabilisation in momentum after recent volatility.

Going ahead, the zone of 24370-24400 will act as an important hurdle for the index. Any sustainable move above 24400 will lead to extension of pullback rally upto the 24650 level. On the downside, the 24160–24130 zone will act as immediate support for the index.

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.

Live: Nifty snaps 2-day losing streak, above 24,200; India VIX cools | Closing Bell

Sensex fell 450 points from day's high amid profit booking in IT., IT shares fell; Coforge and Infosys down over 1%., FIIs continued selling, offloading Rs 6,345 crore on Monday.

* Sensex fell 450 points from day's high amid profit booking in IT.
* IT shares fell; Coforge and Infosys down over 1%.
* FIIs continued selling, offloading Rs 6,345 crore on Monday.

Sensex and Nifty pared early gains amid profit booking in IT shares and continued foreign fund outflows. Markets remained volatile due to Nifty expiry. Technical analysis suggests resistance near 24,300–24,370, with potential upside if breached.

shorts/business/sensex-falls-450-pts-from-day-s-high-nifty-near-24-200-3-key-reasons-behind-market-paring-gains

* Sensex fell 450 points from day's high amid profit booking in IT.
* IT shares fell; Coforge and Infosys down over 1%.
* FIIs continued selling, offloading Rs 6,345 crore on Monday.

The benchmark equity indices pared a part of their early gains in afternoon trade on Tuesday, with the Sensex falling about 450 points from the day’s high amid profit booking in IT shares and continued foreign fund outflows.

The Sensex had jumped 960.09 points or 1.23 percent to an intraday high of 78,526.25 in early trade. The broader Nifty rose 275.75 points or 1.14 percent to 24,303.80.

However, the indices gave up some gains post-noon.

At around 1:30 pm, the Sensex was trading at 78,063.99, still up 497.84 points or 0.64 percent. The Nifty quoted 194.60 points higher at 24,222.65, up 0.81 percent.
<h3>Reasons behind market pullback</h3>
1) Profit taking: Profit booking in information technology (IT) shares weighed on the market after two sessions of gains. The IT index was down up to 1 percent, with <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/coforge/NII02">Coforge</a> falling 2.17 percent and <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/infosys/IT">Infosys</a> declining 1.7 percent, respectively.

2) Nifty expiry: Markets also remained volatile on the weekly expiry of Nifty derivatives contracts.

3) FII selling: The foreign institutional investors (FIIs) continued to remain net sellers. According to exchange data, foreign institutional investors offloaded equities worth Rs 6,345.57 crore on Monday and have been net sellers so far in March.
<h3>Technical view</h3>
According to Anand James of Geojit Investments, the recovery seen after the market held above the opening lows and closed above the 24,000 mark in the previous session has revived hopes of further upside.

He said the immediate rise could face resistance in the 24,300–24,370 range, followed by consolidation or mild dips. A decisive move above this zone could open the way towards the 25,000 level.

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.

Sensex falls 450 pts from day's high, Nifty near 24,200: 3 key reasons behind market paring gains

The benchmark equity indices pared a part of their early gains in afternoon trade on Tuesday, with the Sensex falling about 450 points from the day’s high amid profit booking in IT shares and continued foreign fund outflows.

The Sensex had jumped 960.09 points or 1.23 percent to an intraday high of 78,526.25 in early trade. The broader Nifty rose 275.75 points or 1.14 percent to 24,303.80.

However, the indices gave up some gains post-noon.

At around 1:30 pm, the Sensex was trading at 78,063.99, still up 497.84 points or 0.64 percent. The Nifty quoted 194.60 points higher at 24,222.65, up 0.81 percent.
Reasons behind market pullback
1) Profit taking: Profit booking in information technology (IT) shares weighed on the market after two sessions of gains. The IT index was down up to 1 percent, with Coforge falling 2.17 percent and Infosys declining 1.7 percent, respectively.

2) Nifty expiry: Markets also remained volatile on the weekly expiry of Nifty derivatives contracts.

3) FII selling: The foreign institutional investors (FIIs) continued to remain net sellers. According to exchange data, foreign institutional investors offloaded equities worth Rs 6,345.57 crore on Monday and have been net sellers so far in March.
Technical view
According to Anand James of Geojit Investments, the recovery seen after the market held above the opening lows and closed above the 24,000 mark in the previous session has revived hopes of further upside.

He said the immediate rise could face resistance in the 24,300–24,370 range, followed by consolidation or mild dips. A decisive move above this zone could open the way towards the 25,000 level.

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.

9 out of 15 years NIFTY COMMODITIES has given positive returns in March.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	9,593.63	9,672.82	9,758.48	9,507.97	9,428.78	9,343.12	9,263.93
Fibonacci	9,570.94	9,609.84	9,672.82	9,507.97	9,444.99	9,406.09	9,343.12
Camarilla	9,529.56	9,544.67	9,559.78	9,507.97	9,499.34	9,484.23	9,469.12

INDEX CONTRIBUTION - NIFTY Commodities

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