Nifty Microcap 250

Sensex fell 829 points, Nifty dropped 0.95 percent to 23,639., Nifty faces key support at 23,500, resistance at 23,850., Midcap and smallcap indices declined around 0.5 percent.

* Sensex fell 829 points, Nifty dropped 0.95 percent to 23,639.
* Nifty faces key support at 23,500, resistance at 23,850.
* Midcap and smallcap indices declined around 0.5 percent.

Nifty and Sensex fell sharply amid weak global cues and geopolitical tensions, with Nifty closing down 0.95% at 23,639 and Sensex dropping 1.08%. Analysts see key support at 23,500; further declines possible if breached. Midcaps and smallcaps outperformed.

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The equity benchmark indices settled sharply lower on Thursday, extending their recent decline amid weak global cues and persistent geopolitical tensions.

The Nifty opened with a gap down, tracking negative sentiment in global markets, and remained volatile through the session. Though the index attempted intermittent recoveries during intraday trade, sustained selling in the latter half dragged it lower and it finally settled around the 23,639 mark, down nearly 0.95 percent.

The Sensex tanked 829.29 points or 1.08 percent to settle at 76,034.42. During the day, it had plunged 992.53 points or 1.29 percent to hit 75,871.18. The Nifty slipped to an intra-day low of 23,556.

So far in March, the Nifty has closed in the red in six out of eight trading sessions, declining more than 8 percent during this period.

Market participants are closely watching whether the current weakness will continue or if strong support levels could help stabilise the index.

Ajit Mishra, SVP – Research at Religare Broking, said the Nifty has breached its previous swing low of 23,700 but managed to hold the support around the 23,500 level.

&quot;Going ahead, a decisive break below this band could trigger the next leg of decline towards the 23,000–23,200 zone. On the upside, any recovery towards the 24,000–24,300 region is likely to face stiff resistance,&quot; he said.

Mishra said amid prevailing uncertainty and the negative trend in the market, participants should align their index positions with the broader trend while keeping position sizes in check.

He added that stock-specific opportunities remain on both sides of the market. While sectors such as pharma and energy are holding firm, several others continue to face pressure. Traders should maintain a balanced approach and consider opportunities on both long and short sides.

Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, said the 23,550–23,500 range will act as a key support zone for the index.

&quot;A sustained move below 23,500 could trigger further downside towards the 23,350 level. On the upside, 23,800–23,850 remains an immediate resistance zone, while a decisive breakout above 23,850 may lead to a pullback rally towards the 23,970–24,000 zone,&quot; he said.

Rupak De, Senior Technical Analyst at LKP Securities, said the index slipped below the recent consolidation low, indicating increased weakness amid ongoing concerns around the Strait of Hormuz.

&quot;Though the session remained somewhat volatile, overall selling pressure persisted at higher levels. In the short term, sentiment continues to support a bearish view, with sell-on-rise likely to remain the preferred strategy,&quot; he said.

De added that the RSI indicator is in a bearish crossover and is declining further, entering a zone of significant weakness.

On the downside, support is placed at 23,400 and 23,200, while resistance is seen at 23,850, he said.

Meanwhile, on the broader front, midcap and smallcap indices showed relatively better performance, declining around 0.5 percent each.

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.

Nifty closes in red for 6th time in March: Will market weakness continue or is any strong support visible? Here's what analysts say

Next support for Nifty 50 placed at 23,500, followed by 23,200 being crucial support, On higher side, 23,800–24,000 can be the immediate hurdle zone, India VIX remains above 21 zone, increasing concerns for bulls

* Next support for Nifty 50 placed at 23,500, followed by 23,200 being crucial support
* On higher side, 23,800–24,000 can be the immediate hurdle zone
* India VIX remains above 21 zone, increasing concerns for bulls

shorts/business/technical-view-selling-may-intensify-if-nifty-breaks-23-500-amid-oil-price-volatility-bank-nifty-bears-eye-54-200-as-vix-stays-above-21

The Nifty 50 broke Monday's low and fell nearly 1 percent, extending selling pressure for the second consecutive session on March 12, as the lower high–lower low structure remains intact with further weakening momentum indicators and moving averages trending down, following volatility in oil prices.

Brent crude oil prices hit $100 a barrel again amid fresh attacks on oil-shipping vessels, intensifying concerns over inflation and gas supply constraints, sustaining risk-off sentiment and ongoing FII outflows.

Now the next support for the Nifty 50 is placed at 23,500, which coincides with the 61.8 percent Fibonacci retracement (of the April 2025 low to the January 2026 high). If the index breaks the said support, a fall toward 23,200 can't be ruled out (which is the higher end of the bullish gap of April 15, 2025). Below it, 22,700 can act as a support. However, on the higher side, 23,800–24,000 can be the immediate hurdle zone, experts said.

The Nifty 50 opened nearly 200 points down at 23,675 and touched an intraday low of 23,556. The index remained under bears' control for the entire session and closed at 23,639, down 228 points (0.95 percent), forming a small-bodied bearish candle with upper and lower shadows on the daily charts, signalling the formation of a high-wave type candle pattern at the swing lows.

From an indicator perspective, moving averages and momentum-based indicators continue to suggest a bearish undertone, indicating that the short-term trend remains under pressure unless the index manages to reclaim key resistance levels convincingly.

According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the underlying trend of the Nifty remains weak.

&quot;But the overall chart pattern indicates a possibility of lower bottom formation around the supports of 23,500–23,400 in the short term. A sustainable move above the hurdle of 23,850 could confirm a reversal on the upside,&quot; he said.

The weekly options data suggested that 23,500 is expected to be immediate support for the Nifty 50, as below it 23,000 is likely to be a major support, both of which have maximum Put open interest. However, 23,700 and 24,000 are expected to be hurdles.

Meanwhile, the India VIX, also known as the fear index, remained above the 21 zone, rising 2.16 percent to the 21.52 level, increasing concerns for bulls.

Bank Nifty

The Bank Nifty also remained in a bear trap, falling 635 points (1.14 percent) to 55,101 and forming a small-bodied bullish candle with long upper and lower minor shadows on the daily timeframe, indicating pressure at higher levels with some buying interest at lower levels.

The banking index closed below the crucial support level of 55,300, indicating strong bearish control over the index. Technically, all key moving averages and momentum indicators continue to signal a bearish bias, suggesting a downward move toward the 54,500–54,200 levels.

&quot;The prevailing panic in the market and Bank Nifty’s high beta nature continue to keep overall sentiment weak, though on the hourly chart, a positive divergence in the oversold zone suggests the possibility of a short-term recovery or rebound,&quot; Vatsal Bhuva, Technical Analyst at LKP Securities, said.

According to him, if the index extends its decline, the next key support is placed around 54,500, while on the upside, any pullback or recovery is likely to face resistance near the 56,200 level.

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: Selling may intensify if Nifty breaks 23,500 amid oil price volatility; Bank Nifty bears eye 54,200 as VIX stays above 21

Sensex fell 829 points, Nifty down 228 amid global tensions, Rupee hit record low of 92.36 against US dollar, BSE market cap dropped by Rs 1.77 lakh crore

* Sensex fell 829 points, Nifty down 228 amid global tensions
* Rupee hit record low of 92.36 against US dollar
* BSE market cap dropped by Rs 1.77 lakh crore

Indian equity indices fell for a second day amid rising geopolitical tensions and crude prices above $100. Sensex dropped 829 points, Nifty 228. Rupee hit a record low. Auto, FMCG, and banks declined, while power and energy gained. Over 360 stocks hit 52-week lows.

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Indian equity indices extended their losses for the second consecutive session on March 12 amid escalating geopolitical tensions that pushed crude oil prices above USD 100 per barrel. Weak global cues, rupee depreciation, and continued foreign institutional investor (FII) selling further weighed on investor sentiment.

After opening weak below 23,700, the Nifty extended its losses during the session to hit an intraday low of 23,556.30. The index later saw some recovery and hovered around the 23,700 level but amid final hour selling index closed near day's low.

At close, the Sensex was down 829.29 points or 1.08 percent at 76,034.42, and the Nifty was down 227.70 points or 0.95 percent at 23,639.15.

Broader indices fared better than the benchmarks, with the Nifty Midcap and Smallcap indices declining 0.4% and 0.7%, respectively.

Also Read - NSE shortlists around 20 investment banks for mega IPO

The Indian rupee depreciated for the second consecutive session to hit a fresh record low of 92.36 against the US dollar. It settled at 92.19, down 16 paise from the previous close.

The market capitalisation of BSE-listed companies declined by Rs 1.77 lakh crore to around Rs 440 lakh crore in today’s session.

Also Read - US revives tariff pressure, launches new trade probe on 16 countries including India and China

Biggest Nifty losers were Eicher Motors, M&amp;amp;M, Maruti Suzuki, Bajaj Finance, UltraTech Cement, while gainers included Coal India, Jio Financial, Adani Enterprises, NTPC, Power Grid Corp.

Among sectors, Auto index slipped more than 3%, FMCG index shed 1.7% and Private Bank index declined 1.6%, while Power index gained 2.5%, Energy index rose 2%, Oil &amp;amp; Gas, Metal, Capital Goods rose 0.5% each.

Also Read - Why a Goldman Sachs executive said the Iran war is distracting investors

In stock specific, Omnitech Engineering share price rose 5.6% on bagging five-year contract worth Rs 920 crore, VA Tech Wabag shares gained 1.5% on winning order from Chennai Metropolitan Water Supply &amp;amp; Sewerage Board, KEC International share price rose 2.7% on winning new orders worth Rs 1,476 crore, Vascon Engineers shares added 1.7% on getting work order worth Rs 115.9 crore.

Enviro Infra Engineers share price advanced 5% on project win of Rs 411 crore, Borosil shares fell 6.5% after production impacted as LPG supply curbs hit operations amid Middle East conflict, Aarti Industries shares surged 3.5% on USD 150 mn contract win, Jagsonpal Pharmaceuticals shares rose 6% on share buyback approval.

More than 360 stocks touched their 52-week low, including Hexaware Technologies, Jubilant Foodworks, Five-Star Business, C E Info Systems, Varun Beverages, Jyothy Labs, Tata Motors Passenger Vehicles, ITC Hotels, Lemon Tree, Trent, KPIT Technologies, Jyoti CNC Auto, Swiggy, Colgate Palmolive, Cera Sanitary, Aegis Logistics, IRCTC, among others. Click to View More

Outlook for March 13

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities 

The downside momentum continued in the market on Thursday and Nifty closed the day lower by 227 points amidst volatility. After opening with a downside gap of 190 points, the market recovered smartly in the early-midpart of the session and filled the opening down gap completely. But, the market was failed to sustain the highs and slipped into sharp weakness towards the mid to later part of the session.

A small negative candle was formed on the daily chart with upper and lower shadow. Technically this market action signals a formation of high wave type candle pattern at the swing lows.

The current market action reflects volatility at the lower supports. Sometime, such high wave pattern formations after a down trend or at the supports signal possible bottom reversal after the confirmation. Positive divergence pattern has also started to form in Nifty/daily RSI.

The underlying trend of Nifty remains weak. But the overall chart pattern indicates a possibility of lower bottom formation around the supports of 23500-23400 in the short term. A sustainable move above the hurdle of 23850 could confirm reversal on the upside.

Rupak De, Senior Technical Analyst at LKP Securities

The index slipped below the recent consolidation low, heightening weakness amid the ongoing problems at the Strait of Hormuz. Though the session remained somewhat volatile, overall selling pressure persisted at higher levels.

In the short term, sentiment continues to support a bearish view, with sell-on-rise likely to remain the preferred strategy. The RSI indicator is in a bearish crossover and is declining further, entering a zone of significant weakness.

On the lower end, support is placed at 23,400 / 23,200, while on the higher end, resistance is seen at 23,850.

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: Nifty, Sensex extend losses for second day as oil surges; rupee falls

Nifty India Defence index falls for second consecutive session., Defence shares drop despite steady growth in India's exports., Analysts see potential, but execution and supply issues persist.

* Nifty India Defence index falls for second consecutive session.
* Defence shares drop despite steady growth in India's exports.
* Analysts see potential, but execution and supply issues persist.

India's defence shares stayed subdued despite rising exports and regional tensions, with the Nifty India Defence index falling over 2% in two sessions. Analysts cite shifts in warfare tech, execution focus, and supply chain concerns as reasons for muted performance.

shorts/business/why-are-defence-shares-muted-despite-escalating-us-iran-war-here-are-three-possible-reasons

The defence shares remained subdued on Thursday, with the Nifty India Defence index extending its losses for a second straight session, even as tensions escalate between the United States and Iran.

The index has fallen more than 2 percent over the past two sessions amid profit booking by investors.

During Thursday’s session, only five of the 18 constituents of the index were trading in the green, while the rest were in the red. Dynamatic Technologies and Paras Defence and Space Technologies were among the major laggards, declining up to 3 percent.

The muted performance comes despite steady growth in India’s defence exports. Exports rose to Rs 23,600 crore in FY25, with the government targeting Rs 50,000 crore by FY29, indicating continued momentum in overseas demand.

Countries such as Saudi Arabia, the United Arab Emirates, Qatar and Bahrain have historically increased defence spending during periods of geopolitical tension. Analysts estimate that a 10–15 percent rise in regional procurement budgets could create an incremental export opportunity of Rs 25,000–40,000 crore for emerging suppliers such as India.

However, unlike earlier conflicts such as the Russia-Ukraine conflict or Operation Sindoor, defence stocks have not witnessed strong buying interest so far.
Key factors behind decline in defence shares
1) Shift in modern warfare technologies: In the current conflict involving US and Israel with Iran, the modern warfare is increasingly influenced by the cost of engagement. According to a report by Choice Institutional Equities, relatively inexpensive loitering munitions such as the Shahed drone, which costs about USD 20,000, have often required interception using high-end air defence systems that can cost several hundred thousand to more than a million dollars per engagement.

This dynamic is driving demand for cost-effective counter-drone systems, layered air defence and electronic warfare solutions, areas where Indian companies are gradually building capabilities.

The report said Bharat Electronics Ltd (radar and electronic warfare), Bharat Dynamics Ltd (missile systems), Data Patterns (India) Ltd (mission-critical electronics) and Zen Technologies (counter-drone systems) are among companies that could benefit from potential export opportunities.

2) Focus shifting to execution: Analysts say that while order books across defence companies remain strong and inflows appear promising, execution will be the key factor for investors.

&quot;During previous conflicts, a lot of the rally came through price discovery and momentum supported by liquidity. Now that discovery premium is largely gone. The markets have already factored in the order books and demand for defence. What the market wants to see now is actual execution by companies while maintaining margins,&quot; said Nirav R Karkera, Head of Research at Fisdom.

3) Concerns over supply chain constraints: Brokerage firm Motilal Oswal said supply chain issues could also weigh on sentiment in the near term. The brokerage noted that availability of specialised components and imported subsystems could impact execution timelines for certain defence platforms.

Despite the current weakness, analysts remain constructive on the sector over the longer term.

Ajit Mishra, Senior Vice-President (Research) at Religare Broking, said the broader structure for defence stocks remains positive.

&quot;The base is set for the next leg of the up move in defence counters, though the prevailing negative sentiment is capping the upside. Participants should use this phase to gradually accumulate quality names with strong earnings visibility and reasonable valuation,&quot; he said.

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.

Why are defence shares muted despite escalating US-Iran war? Here are three possible reasons

Nifty Auto index fell over 3 percent as crude prices surged, Top losers: Mahindra & Mahindra, Eicher Motors, Maruti Suzuki, LNG supply concerns may disrupt auto production and demand

* Nifty Auto index fell over 3 percent as crude prices surged
* Top losers: Mahindra & Mahindra, Eicher Motors, Maruti Suzuki
* LNG supply concerns may disrupt auto production and demand

Auto stocks fell sharply, with the Nifty Auto index dropping over 3% as crude oil prices surged above $100 a barrel and LNG supply concerns raised fears of production disruption. Mahindra & Mahindra led losses, while energy stocks gained amid market volatility.

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Auto stocks ended sharply lower on Thursday, with the Nifty Auto index tumbling more than 3 percent and automobile companies dominating the Nifty top losers list, as crude oil prices surged back above $100 a barrel and LNG supply constraints stoked fears of production disruption.

At close, the Sensex was down 829 points or 1.1 percent at 76,034, while the Nifty fell 228 points to 23,639. Market breadth remained negative with 2,409 shares declining against 1,645 advances on the NSE.
Auto stocks among top losers today
The Nifty Auto index ended 3.2 percent lower, the steepest fall among sectoral indices, as rising energy costs and supply-chain concerns weighed heavily on automobile stocks. Among the biggest losers on the Nifty, Mahindra &amp;amp; Mahindra stock plunged 4.32 percent, emerging as the top laggard on the benchmark index.

Other automobile stocks also saw broad-based selling. Eicher Motors dropped about 3.8 percent, while Maruti Suzuki declined around 3.6 percent. Tata Motors Passenger Vehicles fell over 3.2 percent, placing four automobile stocks among the top losers on the Nifty. Two-wheeler maker Bajaj Auto slipped over 1.9 percent.

	Also read | Crude sails past $100: Eternal, Jubilant Foodworks, other restaurant-related stocks fall up to 7% on gas shortage fears

The weakness in the sector comes amid renewed volatility in global energy markets following escalating tensions in the Middle East and reports of shipping disruptions near the Strait of Hormuz, a critical global oil transit route. Crude oil prices surged again during the week, with Brent crude climbing back toward $100 per barrel, raising concerns about higher fuel costs, rising inflation and potential demand pressure for automobile companies.
High crude price may hit demand, LNG shortage may weigh on production
For vehicle manufacturers, higher crude prices have multiple implications. It can add to fuel cost pressures for customers and dampen demand. Analysts also flagged the risk of potential production disruptions due to shortages of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) amid supply constraints linked to the Gulf conflict. LNG is widely used in heat treatment processes for metal components, particularly in casting and forging. Any shortage of gas could disrupt component production, which in turn may halt vehicle assembly lines, an analyst told the Informist.

Brokerage Nomura warned that automobile companies operating at high capacity utilisation levels with limited vehicle inventories could face greater risks if gas supply disruptions persist. “Even if a single supplier faces LNG supply constraints, the production line will halt,” the brokerage said, according to the Informist report. Most vehicle manufacturers and suppliers are currently operating near peak production levels in March with relatively low inventory buffers.

The weakness in automobile stocks stood in contrast to gains in energy-linked companies. The Nifty Energy index rose nearly 2 percent, supported by higher crude prices, while the Nifty Oil &amp;amp; Gas index also ended in positive territory. Market volatility remained elevated, with the India VIX rising about 2 percent.



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.

Nifty Auto crashes over 3% as crude tops $100 again, LNG fears add pressure; M&M, Maruti among top Nifty losers

3 out of 5 years Nifty Microcap 250 has given negative returns in March.

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