Technical View: Follow-up buying crucial for Nifty rally, but strong bears, $100+ oil and elevated VIX cap upside; 54,700 key level for Bank Nifty
Weekly options data suggested that the Nifty 50 is expected to trade in the 23,000–24,000 range in the short term, as a decisive close on either side could provide a firm direction to the index, with immediate resistance at 23,500.
Trading Plan: Will West Asia Tensions push Nifty 50 below 23,000, Bank Nifty toward 53,000?
The Bank Nifty needs to defend 53,500 for a move toward 54,700 (50% Fibonacci level), but a decisive fall below it could open the door for 53,000.
Trade Spotlight: How should you trade NTPC Green Energy, Tata Power, JB Chemicals, Sterlite Technologies, Ajanta Pharma, and others on March 16?
The market may continue to consolidate with a negative bias amid the West Asia tensions. Below are some short-term trading ideas to consider.
Trade setup for March 16: Top 15 things to know before the opening bell amid Strait of Hormuz crisis
According to experts, if the Nifty fails to take support at the psychological level of 23,000, a fall toward 22,700 cannot be ruled out in the upcoming sessions. However, 23,300–23,500 can act as immediate resistance.
Chartist Talk: Sudeep Shah flags deeper correction risk as Nifty breaks 61.8% Fibonacci level; suggests two stocks
Given the current chart structure and weak momentum setup, any near term rebound, if it occurs, is likely to attract fresh selling interest, especially near resistance zones, said Sudeep Shah of SBI Securities.
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Markets don't move in straight lines. They bounce on the way down and pull back on the way up. That's exactly what catches traders out, confusing a retracement for a reversal.
Are markets in oversold territory and is a trend reversal possible next week? Here's what analysts say
For the week, the Nifty dropped 5.3%, its biggest decline since June 2022, while the Sensex fell 5.5%, marking its worst weekly fall since May 2020.
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
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.
Trading Plan: Will Nifty 50 decisively breach 23,500, Bank Nifty slip below 54,500 as Strait of Hormuz crisis drives oil above $100?
Bearish momentum indicators, along with the continuation of the lower high–lower low structure and the VIX sustaining above 21, signal further weakness. Experts expect the benchmark Nifty 50 to breach the 23,500 support and slide toward 23,000 in the upcoming sessions.
Trade Spotlight: How should you trade Ajanta Pharma, HFCL, Timken India, Linde India, Supreme Industries, and others on March 13?
The market is expected to continue to face risk-off sentiment amid geopolitical tensions. Below are some short-term trading ideas to consider.
Stocks to Watch Today: JK Lakshmi Cement, Gravita India, Balaji Amines, Shaily Engineering, Kalpataru, Action Construction Equipment in focus on 13 March
Stocks to Watch, 13 March: Stocks like Shaily Engineering Plastics, JK Lakshmi Cement, Max Financial Services, Manorama Industries, Nectar Lifesciences, Balaji Amines, and KPI Green Energy will be in focus on March 13.
Trade setup for March 13: Top 15 things to know before the opening bell as oil hits $100 amid Strait of Hormuz tensions
Bears seem to be keeping tight control over the market in the upcoming sessions, possibly pushing the Nifty 50 below the immediate support of 23,500 and signalling a major risk for the 23,200–23,000 zone. Notably, 23,000 has the maximum Put open interest.
Nifty closes in red for 6th time in March: Will market weakness continue or is any strong support visible? Here's what analysts say
Nifty has closed in the red in 6 out of eight trading sessions, declining more than 8 percent, so far in March.
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 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.
Trading Plan: Will Nifty 50, Bank Nifty defend Monday's low amid US-Iran tensions and elevated VIX?
If the Nifty 50 decisively breaks 23,700, Monday's low, a fall toward 23,500–23,400 can't be ruled out. However, a convincing move above 24,300 can drive the index toward 24,500–24,700.
Trade Spotlight: How should you trade Karnataka Bank, National Aluminium Company, Bajaj Finserv, Blue Star, Astral, and others on March 12?
The market may remain range-bound with a negative bias until it closes above Monday's bearish gap. Below are some short-term trading ideas to consider.
Trade setup for March 12: Top 15 things to know before the opening bell as traders track US–Iran tensions
Momentum indicators maintained sell signals, while the narrowing gap between the 50- and 200-day EMAs increased the possibility of a move toward a death cross, signalling bears having the upper hand.
Technical View: Nifty’s 23,700 support at risk amid US–Iran tensions; Bank Nifty falls over 2%, 55,300 crucial as VIX jumps 11%
The weekly options data indicated that 23,500, which has the maximum Put open interest, is expected to act as support for the Nifty 50, while resistance is placed in the 24,000–24,300 range, which holds the maximum Call open interest.
Sensex, Nifty resume downtrend after a day's breather, fall up to 1.6%: Where does next support lie? Check what analysts say
Out of 7 sessions in March so far, the Sensex and Nifty have declined by up to 7 per cent in 5 sessions combined.
Trading Plan: Will Nifty 50, Bank Nifty see a follow-up rally with oil below $100 a barrel?
According to experts, a follow-up rally is needed in the upcoming sessions toward the immediate hurdle of 24,400–24,500, followed by the 24,850–25,000 zone. Until then, consolidation with range-bound trading may be seen, with immediate support at 24,000, followed by 23,700,
Trade Spotlight: How should you trade Biocon, BlueStone Jewellery, Hero MotoCorp, Emcure, Aurobindo Pharma, and others on March 11?
The market is expected to see consolidation with range-bound trading in the next few sessions. Below are some short-term trading ideas to consider.
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 a further Nifty 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.
Technical View: Strong follow-up buying needed to push Nifty above 24,500; oil correction cools VIX, 57,500 key for Bank Nifty
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.
India VIX falls sharply after surging over 70% in a month: What lies ahead for markets?
Oil prices retreated on Tuesday after hitting their highest level in more than three years in the previous session.
Trading Plan: Will Nifty 50, Bank Nifty stage a bounce after Trump's Iran war comments and oil price correction?
Momentum indicators have entered the oversold zone and a bullish divergence has been seen on the hourly charts.
