Policy rate cut transmission may finally be over as lending rates are climbing
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.
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.
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.
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.
While Bank Nifty fell more than 2 percent today, the weakness in financial stocks dragged benchmark indices Sensex and Nifty lower. Analysts said the banking index is witnessing some consolidation after Tuesday’s rebound.
The benchmark 10-year bond yield fell to 6.65% from 6.67 % in the previous session
In the previous session, the rupee again slipped below the 92 mark before making a recovery, probably on the intervention of the RBI
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,
Stocks to Watch, 11 March: Stocks like Infosys, Waaree Renewable Technologies, Arvind SmartSpaces, Waaree Energies, Central Bank of India, Hindustan Zinc, Adani Enterprises, SEDEMAC Mechatronics, HG Infra Engineering, Polycab India, InterGlobe Aviation, and Eicher Motors will be in focus on March 11
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.
Apollo Pipes shares fell 3.46 percent to Rs 382.1, while Styrenix Performance shares rallied 2.85 percent to Rs 1,937.6 on the NSE.
The state-owned bank believes that engaging in such business could expose it to risks as it has a sizable loan portfolio in global markets, and also hurt its reputation
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.
In 2025, Norges Bank India portfolio gave a dollar return of -1.4% compared to 15% overall return generated by the fund globally.
Among individual banking stocks, Federal Bank led the gains, rising about 2.4 percent. ICICI Bank shares advanced more than 2 percent. PSU bank stocks also participated in the rally. The recovery comes a day after the banking index witnessed heavy selling pressure.
IDFC First said it had completed reconciliation of all relevant accounts at the branch and had found no further discrepancies
The benchmark 10-year bond yield was trading at 6.68 percent on March 10 after US President Donald Trump indicated that the Iran war would be over soon
The local currency had hit a record low of Rs 92.35 in the previous trading session
Motilal Oswal is bullish on AU Small Finance Bank recommended buy rating on the stock with a target price of Rs 1250 in its research report dated March 09, 2026.
The RBI announced last week that it would purchase Rs 1 trillion worth of government bonds in two tranches
Momentum indicators have entered the oversold zone and a bullish divergence has been seen on the hourly charts.
The overall structure looks weak as the bearish chart pattern of lower highs and lower lows remains intact, while the VIX soared to a 21-month high. Momentum indicators being in the oversold zone signal the possibility of some bounce, but the sustainability of the upside bounce is the key to watch.
The weekly options data suggested that 23,500 is expected to be key support for the Nifty 50, while resistance is placed at 24,500, which is likely to be the trading range in the short term.
The rupee can fall to 93 if the Brent continues to rise, analysts said