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Below the Quote on Morning Outlook 12th March 2026 from Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited

Indian equity markets are expected to begin the trading session on March 12 on a negative note. The GIFT Nifty is trading around 23,713, down nearly 225 points, indicating a weak opening for the domestic benchmark indices.

The Nifty index opened on a flat note in the previous session and briefly attempted to move above the 24,300 mark, touching an intraday high of 24,299. However, selling pressure intensified as the day progressed, dragging the index down to an intraday low of 23,834.30. It eventually settled at 23,866.85. This price action reflects strong bearish momentum in the market. From a technical perspective, the 24,000–24,050 zone is expected to act as immediate resistance, while the 23,600–23,500 range is likely to serve as a crucial support level. The Relative Strength Index (RSI) stands at 30.11, suggesting that the market is approaching oversold territory, which could lead to short-term consolidation or a technical rebound.

The Nifty Bank index followed a similar trend during the session. It opened flat and moved up to an intraday high of 56,938.40. However, sustained selling pressure in banking stocks pulled the index down to a low of 55,631.95, before it closed at 55,735.75, registering a decline of 2.13 percent. On the technical front, the 55,900–56,000 zone remains the immediate resistance level, while 55,000–55,100 is seen as a key support area. The RSI reading of 28.74 indicates oversold conditions, which could result in a short-term bounce or sideways consolidation.

On March 11, Foreign Institutional Investors (FIIs) continued their selling trend, offloading equities worth Rs 6,267 crore and extending their selling streak to nine consecutive sessions. In contrast, Domestic Institutional Investors (DIIs) remained consistent buyers for the 11th straight day, purchasing equities worth Rs 4,965 crore.

Given the ongoing global uncertainties and heightened market volatility, investors are advised to remain disciplined and selective. Focusing on fundamentally strong stocks during market corrections may be a prudent approach. Initiating fresh long positions may be considered only after the Nifty decisively breaks and sustains above the 25,000 level, as such a move would signal improving market sentiment and the potential formation of a stronger bullish trend."

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