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Below the Quote on Post market comment for Wed Mar 18th by Aakash Shah, Research Analyst, Choice Broking

Indian equity benchmarks closed higher on March 18, 2026, supported by increased buying momentum in index. The Nifty 50 opened at 23,632.90 and declined to an intraday low of 23,618.45 during the first half. Subsequently, buying interest increased, leading the index to rally 243.80 points from the day’s low to touch a high of 23,862.25. The index finally settled at 23,777.80, registering a gain of 196.65 points or 0.83 percent over the previous close.

From a technical standpoint, the 23,600–23,650 zone is likely to act as immediate support, while resistance is seen in the 23,900–23,950 range. The Relative Strength Index (RSI) stands at 37.04 and is gradually recovering from oversold levels. Although early signs of recovery are visible, sustained movement above this zone would confirm improving momentum. Technically, the index has formed a bullish candle and recovery will sustain if same kind of momentum and buying pressure continues in the index.

The Bank Nifty index also witnessed strong buying in today’s trading session, indicating improved investor sentiment. The index opened on a positive note at 54,927.05 but declined to an intraday low of 54,689.10 in the first half. Subsequently, buying momentum increased, leading to upside momentum from the day’s low. The index rallied by 865.05 points to touch an intraday high of 55,554.15 and eventually closed at 55,326.05, registering a gain of 450.05 points or 0.82 percent.

From a technical perspective, the 55,000–55,100 range is expected to act as immediate support, while resistance is seen at 55,600–55,700. The Relative Strength Index (RSI) stands at 35.11, indicating that the index remains near the oversold zone. A sustained recovery from these levels would confirm strengthening momentum.

The volatility index, India VIX declined by -5.39 percent to close at 18.7225, indicating easing market volatility and a reduction in risk perception among market participants. In the derivatives segment, in Nifty index, significant call writing was observed at the 23,800 strike followed by the 23,900 strike, while notable put writing was seen at the 23,700 and 23,600 strikes.

Considering the ongoing geopolitical tensions, traders are advised to remain cautious near the key support and resistance levels and wait for a clear breakout on either side before initiating fresh directional trades.

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