March 14, 2024

Stock Market Prediction for Nifty & Bank Nifty 14th March 2024

By Ovais Mirza

Market Recap: March 13, 2024

The Indian equity market saw a rough ending on March 12, 2024, with Nifty dipping below 22,000 amidst widespread selling across various sectors. The Sensex witnessed a significant decline of 906.07 points, closing at 72,761.89, while the Nifty dropped by 338.00 points, settling at 21,997.70. The market sentiment was rather bearish with 290 shares advancing, 3202 declining, and 38 remaining unchanged.

AspectInformation
Market RecapIndian equity market ended weak on March 12, 2024, with Sensex down 906.07 points and Nifty dropping 338.00 points. Top gainers included ITC, UltraTech Cement, HCL Technologies, and banks.
Stock PredictionsNifty may go up if it crosses 22,400 or down below 21,900, with resistance at 22,400 and 22,500. Bank Nifty could rise above 47,000 or fall below, with strong resistance at 47,500.
Key PredictionsSpecific stock predictions include Bajaj Finance, ICICI Bank, Infosys, and Dr. Reddy’s, with identified levels for favorable and weak performance.

Top Performers and Underperformers

Top Gainers:

  • ITC
  • UltraTech Cement
  • HCL Technologies
  • Kotak Mahindra Bank
  • ICICI Bank

Top Losers:

  • Adani Enterprises
  • Coal India
  • Adani Ports
  • Power Grid Corporation
  • NTPC

Stock Predictions for March 14, 2024

Key Stock Predictions

StockGood AboveWeak Below
BAJFINANCE64806440
ICICIBANK10891075
INFY16201600
DRREDDY63206280

Nifty Prediction

The Nifty is expected to respond to global cues, with potential movement if it rises above 22,400 or drops below 21,900. The recent break below an upward channel on the daily chart suggests a possible downward trend, with resistance anticipated at 22,400 and 22,500. Support levels are likely to be seen at 21,900 and 21,700.

Bank Nifty Prediction

Bank Nifty could see upward movement if it surpasses 47,000 or downward movement below this level. Strong resistance at 47,500 indicates a crucial barrier for investors. Key support levels are expected between 47,000 and 46,900, with resistance in the range of 47,000 to 47,500.

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