NIFTY MID SELECT

Immediate support for Nifty 50 seen at 23,000, followed by 22,700 being crucial support, Decisive breakdown of both supports can open door for a 1,000-point fall thereafter, 23,500–23,800 can act as the immediate resistance zone

* Immediate support for Nifty 50 seen at 23,000, followed by 22,700 being crucial support
* Decisive breakdown of both supports can open door for a 1,000-point fall thereafter
*23,500–23,800 can act as the immediate resistance zone

shorts/business/technical-view-nifty-logs-biggest-weekly-fall-since-june-2022-nears-death-cross-iran-war-fears-push-bears-to-target-22-700-bank-nifty-eyes-53-000

Bloodbath continued for the third consecutive session as the benchmark Nifty 50 tumbled over 2 percent on March 13 and recorded its biggest weekly loss since June 2022. Deepening geopolitical tensions in the Middle East kept Brent crude oil prices around $100 a barrel, ultimately leading to macroeconomic shocks, along with margin-related technical pressures. Momentum and technical indicators deteriorated further, increasing the possibility of the emergence of a death cross as the 50-day EMA moved closer to the 200-day EMA. The former moving average falling below the latter moving average is known as a death cross, a signal of strong bearish strength.

The immediate support for the Nifty 50 is placed at 23,000-22,900, below which 22,700 (the 78.6 percent Fibonacci retracement of the April 2025 low to the January 2026 high) is the level to watch. However, 23,500–23,800 can act as the immediate resistance zone, according to experts.

The Nifty 50 saw another gap-down opening, falling over 175 points at the start. The index maintained weakness as the day progressed and finished Friday's session at 23,151 (the lowest closing level since April 11, 2025), down 488 points (2.06 percent, the biggest single-day fall since April 3, 2025). In fact, the index partially filled the long bullish gap (22,200–22,900) created on April 15, 2025, and has erased all the gains of FY26.

The index formed a long bearish candle on the daily charts and made a new swing low of the current year at 23,112. Further, the weakness is significant as Nifty closed below its 100-week EMA for the first time since June 2022 and slipped below the 20-month EMA for the first time since February 2025.

Momentum indicators remain strongly negative, with the RSI falling below 25, indicating sharp bearish momentum, while a rising ADX highlights strengthening downside trend pressure.

According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, though Nifty is placed near support levels, there is still no confirmation of any bottom reversal pattern forming. This is not a good sign, and hence the underlying trend of the market remains sharply down.

For the week, the Nifty 50 plunged 5.31 percent, the biggest weekly loss since June 2022, and formed a long red candle with an upper shadow on the weekly timeframe, indicating major selling pressure at higher levels.

&quot;There is a higher possibility of Nifty showing a minor pullback from near the lows of around 22,900 next week. If it fails to do so, then one may expect more weakness down to the 22,500–22,000 levels in the near term. Immediate resistance is placed at 23,500,&quot; Nagaraj said.

Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, also agreed with Nagaraj. Any sustainable move below the 23,000–22,950 zone could result in Nifty extending its weakness towards 22,750, followed by 22,500 in the short term.

Weekly options data indicated that 23,000 and 22,500 are expected to be the next support levels, which hold maximum Put open interest. Meanwhile, resistance is placed at 23,500 and 23,600, where the maximum Call open interest is observed.

Meanwhile, the fear gauge India VIX remained at elevated levels, rising 13.9 percent during the week to 22.64 (the highest closing level since May 2024), in addition to a 45 percent surge in the previous week, signalling ballooning risk for bulls. It was up 5.24 percent on Friday.

Bank Nifty

The banking index consistently underperformed the benchmark index Nifty 50, sinking 1,343 points (2.44 percent) to 53,758, the lowest closing level since September 2, 2025. For the week, the index plunged 6.97 percent (the biggest weekly loss since May 18, 2020), in addition to a 4.5 percent correction in the previous week.

The Bank Nifty formed a long bearish candlestick on both the daily and weekly charts, reflecting strong selling pressure. The RSI has entered the oversold zone.

&quot;From a technical perspective, this may lead to a short-term rebound or recovery. However, such a move should be treated only as a pullback rather than a signal of a trend reversal. Hence, a cautious approach is advisable at current levels,&quot; Vatsal Bhuva, Technical Analyst at LKP Securities, said.

The immediate support is placed at 53,500, followed by 53,000 as the crucial support, while resistance is seen near 55,000, he added.

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: Nifty logs biggest weekly fall since June 2022, nears death cross; Iran war fears push bears to target 22,700; Bank Nifty eyes 53,000

Nifty and Sensex saw their biggest weekly fall in over a year, BSE market cap dropped nearly Rs 10 lakh crore in a single day, Indian rupee hit a record low of 92.47 against the US dollar

* Nifty and Sensex saw their biggest weekly fall in over a year
* BSE market cap dropped nearly Rs 10 lakh crore in a single day
* Indian rupee hit a record low of 92.47 against the US dollar

Indian markets plunged as Nifty fell below 23,150 amid broad selling and rising oil prices due to geopolitical tensions. Sensex dropped 1.93%, Nifty 2.06%. Rupee hit a record low. Over 500 stocks touched 52-week lows; market cap fell by nearly Rs 10 lakh crore.

shorts/business/taking-stock-bears-drag-nifty-to-23-150-sensex-crashes-1-470-pts-auto-metal-psu-banks-worst-hit

Bears tightened their grip on Dalal Street, dragging Nifty below 23,150 intraday on March 13 amid broad-based selling as rising geopolitical tensions pushed crude oil prices higher.

Amid weak global cues, the market opened weak with Nifty below 23,500, and with extended profit booking it touched day's low of 23,112, before closing near the day's low.

At close, the Sensex was down 1,470.50 points or 1.93 percent at 74,563.92, and the Nifty was down 488.05 points or 2.06 percent at 23,151.10.

Broader indices underperformed the benchmarks, with the Nifty Midcap and Smallcap each falling 2.5%.

Both BSE Sensex and Nifty declined more than 5 percent each during the week, recording their biggest weekly fall in more than a year.

Also Read - India’s mcap drops $533 billion in 2026 so far, steepest fall in 15 years

The Indian rupee depreciated for the second consecutive session to hit a fresh record low of 92.47 against the US dollar. It settled at 92.45, down 26 paise from the Thursday's close.

In today's fall, the market capitalisation of BSE-listed companies declined by nearly Rs 10 lakh crore to around Rs 430.18 lakh crore from Rs 440.06 lakh crore in the previous session.

Also Read - Middle East war could trigger India earnings downgrades, GDP cuts if oil stays above $100: Chakri Lokapriya

Hindalco, L&amp;amp;T, Tata Steel, UltraTech Cement, JSW Steel were among biggest losers on the Nifty, while gainers included Tata Consumer, HUL, Bharti Airtel.

All other sectoral indices ended in the red with auto, PSU Bank, metal, media, PSU Bank down 3-4%.

Also Read - Global reserves may soften Hormuz supply hit, but oil could surge to $150 if disruption lasts longer

In stock specific, JK Lakshmi Cement shares shed 1.5% despite winning Juipahar limestone block in Assam, Ramky Infra shares rose 4% on bagging order of Rs 3,000 crore from Maharashtra government.

Balaji Amines shares fell 3% as plant disrupted amid ammonia supply shortage, ACME Solar shares added 6% on commissioning 142.67 MW / 481.49 MWh BESS phase-1, HFCL share price slipped 3% despite bagging order worth Rs 10,160 crore.

Also Read - Prolonged West Asia war could push India’s inflation above 5%, economists warn

More than 500 stocks touched their 52-week low, including Sapphire Foods, Birla Corp, Gravita India, Latent View, Jyoti CNC Auto, Tata Motors Passenger Vehicles, Newgen Software, Embassy Developers, Sonata Software, Piramal Pharma, Five-Star Business, Vedant Fashions, Exide Industries, Jyothy Labs, Alkyl Amines, Berger Paints, HDFC Bank, Indegene, KPIT Technologies, among others. Click to View More

Outlook for March 16

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Nifty opened with a gap down and extended its decline through the session, ending the day 2.06% lower at 23,151. With today’s close, the index has partially filled the 203-point gap created on 15 April 2025 and has erased all the gains of FY26. Technically, the weakness is significant as Nifty closed below its 100-week EMA for the first time since June 2022 and slipped below the 20-month EMA for the first time since February 2025. Momentum indicators remain strongly negative, with the RSI falling below 25, indicating sharp bearish momentum, while a rising ADX highlights strengthening downside trend pressure.

Going ahead, the immediate support for Nifty is placed in the 23000-22950 zone. Any sustainable move below this zone could result in Nifty extending its weakness towards 22750, followed by 22500 in the short term. On the upside, the zone of 23450–23500 zone is likely to act as a strong resistance.

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities 

The sharp downside momentum continued in the market for the third consecutive sessions on Friday amidst middle east conflict and rising International crude oil prices and Nifty closed the day lower by 488 points. After opening on a weak note, the market continued to slide lower further for better part of the session. Intraday upside recoveries in between have been used as sell on rise opportunity.

A long bear candle has been formed on the daily chart that made a new swing low of 23112 levels on Friday. Nifty has entered the support of previous opening upside gap area of 15th April 2025 around 23200-22900 levels. Though, Nifty placed near the supports, still there is no confirmation of any bottom reversal pattern forming. This is not a good sign.

The underlying trend of the market is sharply down. There is a higher possibility of Nifty showing minor pullback from near the lows of around 22900 by next week, if it fails to do so, then one may expect more weakness down to 22500-22000 levels in the near term. Immediate resistance is placed at 23500.

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: Bears drag Nifty to 23,150, Sensex crashes 1,470 pts; auto, metal, PSU Banks worst hit

Market Meltdown: Nifty, Bank Nifty Slide as Oil Surges &amp; Rupee Hits All-Time Low | Closing Bell

Sensex and Nifty fall for third straight session, down 2 percent., Markets hit by rising crude, FII selling, and weak global cues., Bank and auto stocks lead losses, rupee hits record low.

* Sensex and Nifty fall for third straight session, down 2 percent.
* Markets hit by rising crude, FII selling, and weak global cues.
* Bank and auto stocks lead losses, rupee hits record low.

Sensex and Nifty fell for a third straight session, dropping 2% amid weak global cues, rising crude prices, FII outflows, and rupee weakness. All NSE sectoral indices traded lower, with bank and auto stocks leading losses. Markets face continued pressure.

shorts/business/sensex-falls-650-pts-nifty-below-23-450-key-factors-behind-market-decline-for-3rd-day

The equity benchmark indices Sensex and Nifty extended losses for the third straight session on Friday, falling up to 2 percent amid persistent foreign fund outflows and rising crude oil prices linked to the ongoing conflict in West Asia.

The Sensex tumbled 1,579.82 points or 2 percent to 74,454.60 during intra-day trade. The benchmark finally settled at 74,563.92, down 1,470.50 points or 1.93 percent. The Nifty tanked 488.05 points or 2.06 percent to end at 23,151.10.

The Nifty has dropped 5.3 percent this week, marking its biggest drop since June 2022, while Sensex slid 5.5 percent in worst week since May 2020.

Larsen &amp;amp; Toubro, Tata Steel, SBI, Bharat Electronics, Maruti, and UltraTech Cement were among the major laggards, declining up to 7 percent. Hindustan Unilever and Bharti Airtel were the gainers.

Auto stocks plunged 10.6 percent, the biggest laggards, as fears the Middle East war could hit production and exports rattled investors. It was their steepest weekly drop in six years.

Heavyweight financials also slumped 5.7 percent amid intensifying foreign investor outflows.

Bucking the trend, Coal India jumped 6 percent as an early summer raised prospects for higher coal demand.

All the 16 major sectors logged losses this week. The broader Nifty Smallcap100 and Nifty Midcap100 indices declined 2.5 percent and 2.65 percent, respectively.
Key factors behind market decline
1) Crude oil surge: Crude prices surged after Iranian strikes on two oil tankers raised fears of supply disruptions through the Strait of Hormuz. Brent crude futures climbed close to USD 100 per barrel on Thursday before trading flat. The global benchmark Brent Crude Oil traded marginally higher at USD 100.5 per barrel on Friday.

Higher crude prices typically weigh on Indian equities as the country imports a large share of its oil needs. Rising oil costs increase the import bill, widen the current account deficit and fuel inflation, which in turn can hurt corporate profitability and investor sentiment.

2) Weak global cues: Global markets remained under pressure amid escalating geopolitical tensions. In Asia, South Korea’s KOSPI, Japan’s Nikkei 225, China’s SSE Composite Index and Hong Kong’s Hang Seng Index were trading lower.

In the United States, the Dow Jones Industrial Average, S&amp;amp;P 500 and Nasdaq Composite ended sharply lower, with the Dow Jones falling more than 700 points to settle below the 47,000 mark for the first time this year.

&quot;With the heightened uncertainty surrounding the West Asian conflict continuing, global markets are weak and in uncharted territory. Weakness in the US markets indicates that rebound in the market is some time away. With Brent crude around USD 100, bulls are on the defensive,&quot; said V. K. Vijayakumar, Chief Investment Strategist at Geojit Investments.

&quot;With the FIIs persisting with their sustained selling strategy, even large-cap blue-chips are under pressure,&quot; he added.
Stock Market Live Updates
3) Persistent FII selling: Foreign Institutional Investors (FIIs) continued their selling trend in the domestic market. According to exchange data, FIIs offloaded equities worth Rs 7,049.87 crore on Thursday. So far in March, foreign investors have sold shares worth more than Rs 39,000 crore.

4) Rupee at record low: The Indian Rupee weakened further on Friday, falling 12 paise to a record low of 92.37 against the United States Dollar. At the interbank foreign exchange market, the local unit opened at 92.33 and slipped to an intra-day low of 92.37.

Forex traders said the weakness was driven by elevated crude oil prices, persistent FII outflows and a stronger dollar. A weaker rupee also raises import costs, particularly for crude oil, which can add to inflationary pressures.

5) US Fed policy outlook: Investors are also awaiting the policy decision of the Federal Reserve, which meets on March 17. Devarsh Vakil, Head of Prime Research at HDFC Securities, said the central bank is widely expected to keep interest rates unchanged.

&quot;The central bank is widely expected to hold rates steady, but its updated economic projections will be scrutinised for revised inflation estimates — the crude spike from the now 13-day-old conflict has yet to filter through the data,&quot; he said.

&quot;For investors, the worry is that a broader energy shock could reignite inflation, much as it did after the Russia-Ukraine war, forcing central banks to keep monetary policy tighter for longer,&quot; said Ross Maxwell.

&quot;That would pressure equity markets and strain energy-importing economies such as India,&quot; Maxwell added.

6) Selling in bank, auto shares: Financial shares faced intense selling pressure with PSU bank stocks leading the losses. The Bank Nifty index was trading 1.75% lower to trade near the 54,000-mark with Union Bank of India, Punjab National Bank, Canara Bank leading the losses by declining 2.3%-2.7%. All of its constituents were trading in the red. Among private banks, IndusInd Bank was the biggest loser by falling 2.6%.

Auto stocks remained under pressure for a second straight session on Friday morning, with the Nifty Auto index falling more than 2 percent as concerns around rising crude oil prices, potential gas shortages and supply-chain disruptions continued to weigh on the sector.
Bank Nifty falls 1.7% to trade near 54,000-mark, PSU banks lead the losses
7) India Vix rises: The fear gauge or the volatility index rose nearly 6 percent to 22.66.
Technical outlook
Rupak De, Senior Technical Analyst at LKP Securities, said &quot;Nifty continued to fall as the sentiment has not improved so far. The index continued to deviate further away from the 200DMA as the selling intensified. The RSI has entered the oversold zone. Though the trend remains weak, in times of extreme weakness the market might continue to fall, keeping the RSI in a deep oversold zone. In the short term, the trend might continue to remain weak, with any rise being sold into. On the lower end, the index might fall towards 23000/22800, while on the higher end resistance is placed at 23400.&quot;

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sensex settles 1,500 pts lower, Nifty ends at 23,150: 7 key factors behind market decline for third day

Oil Above $100! Iran’s Mojtaba Khamenei Warns on Hormuz | US Markets Slide | Opening Bell

3 out of 5 years NIFTY MID SELECT has given positive returns in March.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	13,119.27	13,277.38	13,486.12	12,910.53	12,752.42	12,543.68	12,385.57
Fibonacci	13,050.67	13,137.25	13,277.38	12,910.53	12,770.40	12,683.82	12,543.68
Camarilla	12,994.78	13,028.41	13,062.03	12,910.53	12,927.52	12,893.89	12,860.27

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