NIFTY OUTLOOK FOR 11 MARCH 2025

 In a volatile trading session on March 10, Indian equity indices closed lower amid broad-based selling across sectors. The Nifty ended around the 22,450 mark, giving up its intraday gains due to late-session profit booking.

Market Summary:

• Sensex: Down 217.41 points (-0.29%) at 74,115.17

• Nifty 50: Down 92.20 points (-0.41%) at 22,460.30

The day began with a flat opening, followed by an upward movement in the first half, pushing the Nifty past 22,650. However, strong profit booking in the final hour erased those gains, driving the index below 22,500 by the close.

Top Performers and Laggards

• Top Losers: IndusInd Bank, Trent, ONGC, Eicher Motors, Bajaj Auto

• Top Gainers: Power Grid Corp, HUL, Infosys, SBI Life, Nestle India

Sectoral Performance

• FMCG was the only sector to finish positive.

• Other sectors, including Auto, Consumer Durables, Metals, Capital Goods, Oil & Gas, Realty, and PSU Banks, declined by 1-2%.

Broader Market Movement

• The BSE Midcap index fell by 1.5%

• The BSE Smallcap index dropped by 2.1%

• Over 120 stocks hit their 52-week lows, including notable names such as Vedant Fashions, KNR Construction, IndusInd Bank, Astral, Shoppers Stop, IDFC First Bank, EKI Energy, Shiva Cement, and PNB Gilts.

Technical Outlook

The Nifty faced resistance near its 21 EMA on the daily chart, which led to a pullback towards 22,400. Moving forward:

• Support Level: Nifty is expected to find crucial support at 22,400. A sustained break below this level may weaken market sentiment, potentially triggering further declines towards 22,330 and even 21,960.

• Resistance Level: On the upside, resistance is seen at 22,620-22,750. A decisive break above this range could reinforce bullish momentum and strengthen overall market sentiment, especially in large-cap stocks.

Outlook

For the Nifty to resume an upward trend, the index must breach the 22,620-22,730 resistance zone. Conversely, a break below 22,330 could result in extended selling pressure, retesting the previous swing low of 21,960.

Investors are advised to remain cautious amid ongoing volatility, with a focus on large-cap stability and sector-specific opportunities.