StockEdge
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StockEdge Morning Market Report | Friday, 13 March 2026
Nifty 50 closed at 23,639 — down 228 points (-0.95%). The index opened at 23,675, touched an intraday low of 23,556, tried to recover but couldn’t sustain, and closed near the lows of the day — a weak price action structure.
The fall was led by sharp losses in Auto and Financial. Market breadth remained negative.
FII continued to sell of around 7000+ Crs yesterday.
India VIX at 21.52 — fear remains firmly elevated.
US markets had a brutal session — S&P 500 down 1.5% to 6,672, Dow shed 739 points (-1.6%) to 46,677, and Nasdaq fell 1.8% to 22,311. Three consecutive days of losses for Wall Street.
GIFT Nifty is 160+ points down, indicating a weak opening.
Nifty 50
The index is now at fresh multi-month lows and the pattern remains a structured one-way fall. A 2000 point fall from 25600 – 23600 in 10 trading sessions. RSI is deep in oversold territory, but as highlighted repeatedly, oversold can stay oversold in a trending bear market. Stochastics and MACD show no signs of bottoming out. The 23,200 is the level that the index may test. Rallies will not sustain. On the upside, 23700-800 zone will act as immediate resistance, whereas 24300 will act as the ceiling, during any kind of pullback.
With GIFT Nifty pointing weak, the bears remain firmly in control heading into Friday's close.
Bank Nifty closed at 55,101 — down 635 points (-1.14%) — extending its losing run. PSU Banks and Private Banks remain under equal pressure. The 55,000 mark is the immediate psychological support + there is a channel trendline around this area of 55000- 55100— a close below that level could accelerate selling toward 54,500. No base formation visible yet — the index remains one of the primary contributors to the broader market's decline.
Sector Watch
Strong (Relative): Power, PSU, Pharma
Weak: Auto, FMCG, Realty, IT
Conclusion
Heading into the weekend, the macro picture has not improved. The chart is weak, price action is weak, and there are no bottom signals yet. Be light on positions over the weekend as lot of can change overnight based on news. Be extremely selective, keep capital allocation low, and do not attempt to bottom-fish until the charts show a clear signal.
For more market insights and analysis, visit https://sedg.in/3btdq6gx
Nifty 50 closed at 23,639 — down 228 points (-0.95%). The index opened at 23,675, touched an intraday low of 23,556, tried to recover but couldn’t sustain, and closed near the lows of the day — a weak price action structure.
The fall was led by sharp losses in Auto and Financial. Market breadth remained negative.
FII continued to sell of around 7000+ Crs yesterday.
India VIX at 21.52 — fear remains firmly elevated.
US markets had a brutal session — S&P 500 down 1.5% to 6,672, Dow shed 739 points (-1.6%) to 46,677, and Nasdaq fell 1.8% to 22,311. Three consecutive days of losses for Wall Street.
GIFT Nifty is 160+ points down, indicating a weak opening.
Nifty 50
The index is now at fresh multi-month lows and the pattern remains a structured one-way fall. A 2000 point fall from 25600 – 23600 in 10 trading sessions. RSI is deep in oversold territory, but as highlighted repeatedly, oversold can stay oversold in a trending bear market. Stochastics and MACD show no signs of bottoming out. The 23,200 is the level that the index may test. Rallies will not sustain. On the upside, 23700-800 zone will act as immediate resistance, whereas 24300 will act as the ceiling, during any kind of pullback.
With GIFT Nifty pointing weak, the bears remain firmly in control heading into Friday's close.
Bank Nifty closed at 55,101 — down 635 points (-1.14%) — extending its losing run. PSU Banks and Private Banks remain under equal pressure. The 55,000 mark is the immediate psychological support + there is a channel trendline around this area of 55000- 55100— a close below that level could accelerate selling toward 54,500. No base formation visible yet — the index remains one of the primary contributors to the broader market's decline.
Sector Watch
Strong (Relative): Power, PSU, Pharma
Weak: Auto, FMCG, Realty, IT
Conclusion
Heading into the weekend, the macro picture has not improved. The chart is weak, price action is weak, and there are no bottom signals yet. Be light on positions over the weekend as lot of can change overnight based on news. Be extremely selective, keep capital allocation low, and do not attempt to bottom-fish until the charts show a clear signal.
For more market insights and analysis, visit https://sedg.in/3btdq6gx
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