Nifty Remains Steady Alert
All sectoral indexes except IT ended in the negative, with realty down roughly 3.5 percent, PSU Bank and Media down 2 percent apiece, and capital goods, FMCG, healthcare, metal, and power down 1 percent each.
On March 12, Indian benchmark indices ended mixed, with the BSE Sensex rising 165.32 points or 0.22% at 73,667.96 and the Nifty gaining three points or 0.01% at 22,335.70.
Investors are awaiting US inflation data release to determine when the Federal Reserve will begin its rate cut cycle. The market extended gains but saw profit booking amid selling across sectors, except IT.
Sectors and stocks
Top Nifty gainers included HDFC Bank, TCS, LTIMindtree, Maruti Suzuki, and Infosys, while losers included Adani Enterprises, Cipla, Grasim Industries, Adani Ports, and SBI. Sectoral indices saw realty index down nearly 3.5%, PSU Bank and Media indices down two percent each, and capital goods, FMCG, healthcare, metal, and power indices falling one percent each.
The BSE Midcap index fell by 1.3% and Smallcap index by 2%. However, individual stocks like Aditya Birla Capital, Indiamart Intermesh, and Oracle Financial Services Software experienced a volume spike of over 200 percent, while Balkrishna Industries, Aditya Birla Capital, and Indiamart Intermesh experienced a long build-up.
TCS, Oracle Fin Serv, Interglobe Aviation, Quick Heal Technologies, eMudhra, Hercules Hoists, Cigniti Technologies, Gujarat Themis, Waaree Renewable, among other, touched their 52-week high on the BSE.
March 13 forecast
The Nifty experienced a volatile trading day, with intraday swings of around 200 points. The Nifty is currently rangebound between 22200 – 22600, with multiple support parameters such as the 20-day moving average and previous swing lows acting as a cushion.
On the upside, 22500 – 22550 will act as an immediate hurdle. The Bank Nifty tested the 20-day moving average and pulled back, closing off intraday lows down around 45 points.
Crucial support for Bank Nifty is at 47000 – 46900, while resistance is in the 47820 – 48000 zone. The broader market also experienced deep cuts, with the Midcap Index closing down about 1.4% and the Small Cap Index down about 1.98%.
During a volatile trading session, buying in frontline stocks led to positive benchmarks, while broad-based selling occurred in realty, power, and capital goods stocks. Focus is on US and Indian inflation readings, as further moderation could improve Fed rate cuts.
| FII Bought | 73.12Â Â Cr |
| DII Bought | 2,358.18Â Â Cr |
Indian Market Stocks
| Sensex | 165.32 | +0.22% | 73,667.96 |
| Nifty 50 | 3.05 | +0.01% | 22,335.70 |
| Bank Nifty | -45.45 | -0.10% | 47,282.40 |
Market Movers
| HDFC Bank | 31.75 2.22% | Adani Enterpris | -84.85 -2.65% |
| TCS | 69.90 1.70% | Cipla | -38.35 -2.55% |
| LTIMindtree | 86.20 1.68% | Grasim | -52.80 -2.36% |
| Maruti Suzuki | 114.35 1.00% | Adani Ports | -25.65 -1.93% |
| Infosys | 12.35 0.77% | SBI | -14.00 -1.81% |
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The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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