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.
Aspect
Information
Market Recap
Indian 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 Predictions
Nifty 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 Predictions
Specific 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
Stock
Good Above
Weak Below
BAJFINANCE
6480
6440
ICICIBANK
1089
1075
INFY
1620
1600
DRREDDY
6320
6280
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.
