March 14, 2024

Stock Market Prediction for Nifty & Bank Nifty on March 15th, 2024

By Ovais Mirza

Overview of March 14th, 2024

On March 14th, 2024, the Indian stock markets experienced a mixed day. The Nifty reached 22,150 points, marking a positive movement, while the Sensex rose by 336 points. However, the banking sector didn’t fare as well, showing a lackluster performance.

AspectDetails
Market PerformanceNifty closed at 22,150 (+149.00), Sensex rose by 335.39 points. Top gainers: Adani, Hero, ONGC.
Sectoral PerformanceExcept banking, all sectors ended positively. Telecom, power, oil & gas sectors added 3%.
Midcap & Smallcap IndicesBSE Midcap rose by 2.2%, Smallcap gained 3%, outperforming main indices.
Nifty PredictionsResistance at 22,150, support at 22,100. Possible bullish trend with break above 22,200.
Bank Nifty PredictionsResistance at 47,000, support at 46,720. Uncertainty depicted by a doji candle; potential upward movement.

Market Performance

  • Nifty: Closed at 22,150, gaining 149.00 points.
  • Sensex: Rose by 335.39 points to reach 73,097.2.
  • Top Gainers: Adani Enterprises, Adani Ports, Hero MotoCorp, Hindalco Industries, and ONGC.
  • Top Losers: Axis Bank, IndusInd Bank, Bajaj Finance, Tata Steel, and JSW Steel.

Sectoral Performance

  • Except for Banking Stocks, all other sectors ended positively.
  • Telecom, power, and oil & gas sectors each added 3%.
  • Auto, capital goods, FMCG, Information Technology, healthcare, and metal sectors rose by 1 to 2%.

Midcap and Smallcap Indices

  • BSE Midcap index rose by 2.2%.
  • Smallcap index gained 3%, outperforming the main indices.

Nifty Stock Prediction for March 15th, 2024

Key Levels

  • Resistance: 22,150, 22,200.
  • Support: 22,100, 22,000.

Predictions

  • Nifty might face resistance around 22,150-22,200.
  • Breaking above 22,200 could drive it towards 22,500 soon.
  • Support levels are seen at 22,100-22,000.

Stock Predictions

StockGood AboveWeak Below
APOLLOHOSP60506000
KOTAKBANK17501722
TATAMOTORS976961
SAIL123120

Bank Nifty Prediction for March 15th, 2024

Key Levels

  • Resistance: 47,000, 47,500.
  • Support: 46,720, 46,060.

Predictions

  • Bank Nifty saw uncertainty, depicted by a doji candle on the daily chart.
  • Immediate resistance at 47,000; breaking above could signal upward movement.
  • Support lies at 46,720-46,060; breaking below could lead to further declines.

Bank Nifty Support and Resistance

SupportResistance
46,72047,000
46,06047,500

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