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StockEdge Morning Market Report | Wednesday, 18 March 2026
Nifty 50 closed at 23,581 — up 172 points (+0.74%). The markets extended recovery to a second straight session.
Metals and Auto led the gains. Broader markets participated — Nifty MidCap rose 1.07% and SmallCap gained 0.78%. Market breadth was robust with 322 advances vs 177 declines on the Nifty 500.
FIIs net sold ₹4,741.
India VIX fell sharply — down 8.39% to close at 19.79.
US markets extended their rebound on Tuesday — but gave up their gains closing near the lows of the day.
GIFT Nifty is 75 points + currently. The big event is tonight's FOMC decision — rates are widely expected to be held, but Pwell's tone on inflation and energy prices is a market-mover to watch.
Nifty
Two sessions of recovery – and the questions which we all have, Pullback or recovery. Well, the chart structure is not yet repaired. Prices remain well below all short-term and long-term moving averages, RSI is bouncing from extreme oversold territory around 24 but no bullish divergence is visible yet. There isn’t any reversal pattern or base formation. The deeply oversold indicators and market breadth data hinted a pullback – which is what we are seeing in the markets. The 23,700 and 23850 is the immediate battleground — the index needs to build and sustain above this level to signal some bullish momentum. After a steep fall, last 2 trading action is a counter pullback – which can extend to test the resistance levels mentioned. On the downside, 23,350 is the immediate support
Bank Nifty
Bank Nifty has a steady session – as it bounce back from the supports. The level of 5300 is important monthly support zone. RSI is bouncing off extreme oversold near 23 — short covering is likely driving a part of this recovery. The recovery could extend further to test 55000 and 55650 levels.
Conclusion
The market is in a delicate recovery mode. Tonight's FOMC decision is the next major event Stay measured, avoid chasing the recovery aggressively. Be extremely selective in stocks with a reduced capital allocation.
For more market insights and analysis, visit https://sedg.in/3btdq6gx
Nifty 50 closed at 23,581 — up 172 points (+0.74%). The markets extended recovery to a second straight session.
Metals and Auto led the gains. Broader markets participated — Nifty MidCap rose 1.07% and SmallCap gained 0.78%. Market breadth was robust with 322 advances vs 177 declines on the Nifty 500.
FIIs net sold ₹4,741.
India VIX fell sharply — down 8.39% to close at 19.79.
US markets extended their rebound on Tuesday — but gave up their gains closing near the lows of the day.
GIFT Nifty is 75 points + currently. The big event is tonight's FOMC decision — rates are widely expected to be held, but Pwell's tone on inflation and energy prices is a market-mover to watch.
Nifty
Two sessions of recovery – and the questions which we all have, Pullback or recovery. Well, the chart structure is not yet repaired. Prices remain well below all short-term and long-term moving averages, RSI is bouncing from extreme oversold territory around 24 but no bullish divergence is visible yet. There isn’t any reversal pattern or base formation. The deeply oversold indicators and market breadth data hinted a pullback – which is what we are seeing in the markets. The 23,700 and 23850 is the immediate battleground — the index needs to build and sustain above this level to signal some bullish momentum. After a steep fall, last 2 trading action is a counter pullback – which can extend to test the resistance levels mentioned. On the downside, 23,350 is the immediate support
Bank Nifty
Bank Nifty has a steady session – as it bounce back from the supports. The level of 5300 is important monthly support zone. RSI is bouncing off extreme oversold near 23 — short covering is likely driving a part of this recovery. The recovery could extend further to test 55000 and 55650 levels.
Conclusion
The market is in a delicate recovery mode. Tonight's FOMC decision is the next major event Stay measured, avoid chasing the recovery aggressively. Be extremely selective in stocks with a reduced capital allocation.
For more market insights and analysis, visit https://sedg.in/3btdq6gx
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