Pre-Market Outlook – 18.03.2026
Support held, Resistance conquered – The Nifty has held its recent support and moved above immediate resistance, indicating a positive shift in momentum. Sustaining above 23500 as 16th March’s high suggests strength and potential for further upside. As long as the index remains above the new support zones as 23500/23300, dips may attract buying interest. However, failure to hold above the breakout could lead to short term consolidation or mild profit booking.
Thank you for reading this post, don't forget to subscribe!A stable opening is expected for the Nifty amidst favourable global cues. The index may remain range-bound with healthy consolidation between 23500 and 23800, favoring a Buy-on-Dips strategy. A breakout from this range could trigger directional moves towards 23400 on the downside or 24000 on the upside.
From a positional perspective, a decisive close above 24079 is crucial to validate strength and unlock further upside towards 24300 to 24700.
Sectoral Focus
Auto, Realty, Bank, Metal, Defence, Capital Goods.
Stocks To Watch
Wipro, Tech Mahindra, Hexaware Technologies, Tata Steel, Aurobindo Pharma, India Glocols, National Aluminium Company.
Traders should adhere to disciplined stoploss levels in all positions.
Wishing everyone a fruitful day!
