The Nifty index formed a shooting star-like pattern on Wednesday, facing resistance levels around 19,800 after gaining 98 points. Analysts suggest that the support zone will be in the range of 19,615-19,560, while the upside target is seen at 19,830-19,850. According to Prashanth Tapse, the technical landscape of the Nifty suggests consolidation, with interweek support at 19561 and immediate hurdles at 20000. Meanwhile, Minor downward correction has been completed and the market is likely to shift into an upside bounce, according to Nagaraj Shetti.
Over 800 smallcaps end the week in red. 116 stocks fall in double-digits up to 43%
BSE Smallcap fell 2% last week, with 821 stocks declining up to 43%. Market sentiment remained weak due to US recession fears and tariff wars.
March 15, 2025