StockEdge’s Morning Market Report | Wednesday, 11 March 2026

Nifty 50 closed at 24,261 — up 233 points (+0.97%). Auto was the top gaining sector, rising over 3%, followed by Consumer Durables and PSU Banks — a meaningful reversal for two of the hardest-hit sectors this week. On the downside, Nifty IT and Oil & Gas ended lower. Midcap was up 1.62% and Smallcap gained 2.12%.

However, the session was choppy. FII’s continued to sell around 4263 Crs
India VIX dropped to 18 levels — down approx. 18% , still higher levels for the markets to be in a comfort zone.

WTI crude settled at $83.45. US markets ended with minor losses

GIFT Nifty is pointing to a cautious-to-flat opening.

Nifty 50
The index opened with a gap up and then tested the lows in the 1st 15 mins and rebvounced gradually, forming a hammer candle on the daily charts. However the chart structure has not changed materially. Prices remain well below all key moving averages. The 24,300 is an immediate resistance, which was not crossed yesterday. If the index crosses this level – the bears should emerge around the budget low – 24570 – 600 zone.

These are the pullback levels , which may emerge. Anything bullish and to say that bullish momentum is back in the markets is only abobe 24850. So keep a watch out on these levels. Until then, each bounce should be treated with caution.

Nifty Bank

Bank Nifty closed at 56,950 — up 931 points (+1.66%) — the best single-session recovery among major indices on Tuesday. PSU Banks, which were the worst hit earlier in the week, led the bounce. That said, the index is still well below its key short-term averages and the budget day low. The recovery is encouraging but one session does not make a trend. A huge gap has been created in this index which is being tried to get filled. 57700 will act as a strong resistance.

Conclusion

The market is attempting a recovery but it is fragile and heavily news-driven. Stay measured — reduce exposure on rallies.

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