Nifty India Defence

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.

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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.

India VIX fell 14 percent to 19.99 as oil prices retreated., Sensex jumped 557 points, Nifty rose 179 points on Tuesday., Market hopes rise as tensions in West Asia may ease.

* India VIX fell 14 percent to 19.99 as oil prices retreated.
* Sensex jumped 557 points, Nifty rose 179 points on Tuesday.
* Market hopes rise as tensions in West Asia may ease.

India VIX dropped 14% to 19.99 as crude oil prices fell and global markets recovered, easing concerns over US-Israeli tensions with Iran. Sensex rose 557 points, Nifty gained 179 points, with experts seeing opportunities for long-term investors.

shorts/business/india-vix-recovers-sharply-after-surging-over-70-in-a-month-what-lies-ahead-for-markets

* India VIX fell 14 percent to 19.99 as oil prices retreated.
* Sensex jumped 557 points, Nifty rose 179 points on Tuesday.
* Market hopes rise as tensions in West Asia may ease.

The India VIX recovered sharply on Tuesday after having surged more than 70 percent over the past month.

The volatility index had earlier climbed to a 21-month high as crude oil prices crossed USD 100 per barrel, amid concerns over the expanding US-Israeli conflict with Iran and the risk of disruptions to global supplies.

However, the index declined 14 percent to 19.99 on Tuesday, tracking a fall in crude oil prices and a recovery in global markets on hopes that tensions in West Asia could ease.

India VIX measures the market’s expectation of volatility in the near term. A decline in the index typically indicates easing concerns among investors and an improvement in risk appetite.

Oil prices retreated on Tuesday after hitting their highest level in more than three years in the previous session. The fall came after US President Donald Trump said the war in the Middle East could end soon, easing worries over prolonged supply disruptions.

Market participants said the recent spike in volatility had been driven largely by geopolitical tensions and the sharp rise in oil prices.

Anand James, Chief Market Strategist at Geojit Investments, said the pullback in the market without slipping much beyond the opening lows and the subsequent close above 24,000 in the previous session had revived hopes of an upside.

He said a vertical rise during the day could be limited to the 24,300–24,370 range, followed by consolidation or minor dips. A direct move above this band, he added, could open the door for a rally towards 25,000.

Devarsh Vakil, Head of Prime Research at HDFC Securities, said the benchmark index had recovered strongly from the previous session’s lows.

"From yesterday’s early morning lows of 23,697, the index clawed back more than 300 points to end near its daily high. The 23,697 level now provides immediate support for the Nifty,” he said.

Vakil noted that the Nifty has declined nearly 2,000 points from its recent swing high in the past three weeks.

"Such sharp falls present a good opportunity for long-term investors with cash to deploy to keep accumulating quality investment ideas," he added.

In the broader market, the Sensex jumped 557.52 points, or 0.72 percent, to 78,123.67. The Nifty rose 179 points, or 0.74 percent, to 24,207.05.

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.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

India VIX falls sharply after surging over 70% in a month: What lies ahead for markets?

The India VIX recovered sharply on Tuesday after having surged more than 70 percent over the past month.

The volatility index had earlier climbed to a 21-month high as crude oil prices crossed USD 100 per barrel, amid concerns over the expanding US-Israeli conflict with Iran and the risk of disruptions to global supplies.

However, the index declined 14 percent to 19.99 on Tuesday, tracking a fall in crude oil prices and a recovery in global markets on hopes that tensions in West Asia could ease.

India VIX measures the market’s expectation of volatility in the near term. A decline in the index typically indicates easing concerns among investors and an improvement in risk appetite.

Oil prices retreated on Tuesday after hitting their highest level in more than three years in the previous session. The fall came after US President Donald Trump said the war in the Middle East could end soon, easing worries over prolonged supply disruptions.

Market participants said the recent spike in volatility had been driven largely by geopolitical tensions and the sharp rise in oil prices.

Anand James, Chief Market Strategist at Geojit Investments, said the pullback in the market without slipping much beyond the opening lows and the subsequent close above 24,000 in the previous session had revived hopes of an upside.

He said a vertical rise during the day could be limited to the 24,300–24,370 range, followed by consolidation or minor dips. A direct move above this band, he added, could open the door for a rally towards 25,000.

Devarsh Vakil, Head of Prime Research at HDFC Securities, said the benchmark index had recovered strongly from the previous session’s lows.

&quot;From yesterday’s early morning lows of 23,697, the index clawed back more than 300 points to end near its daily high. The 23,697 level now provides immediate support for the Nifty,” he said.

Vakil noted that the Nifty has declined nearly 2,000 points from its recent swing high in the past three weeks.

&quot;Such sharp falls present a good opportunity for long-term investors with cash to deploy to keep accumulating quality investment ideas,&quot; he added.

In the broader market, the Sensex jumped 557.52 points, or 0.72 percent, to 78,123.67. The Nifty rose 179 points, or 0.74 percent, to 24,207.05.

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.

1 out of 2 years Nifty India Defence has given positive returns in March.

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