The negative crossover in daily and hourly momentum indicators signals a sell opportunity. Key support levels to watch are 24,265 (20-day moving average) and 24,000 (23.6% Fibonacci retracement level). A breakout above 24,860 could push the market towards 25,530, according to Jatin Gedia of Sharekhan.
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