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Below the Quote on Pre-market comment for Friday March 20 by Hitesh Tailor, Research Analyst, Choice Broking

Indian equity markets are likely to open the trading session on March 20 with a flat to positive bias. The GIFT Nifty is currently hovering near 23,236, reflecting a gain of about 116 points and signaling a firm start for the benchmark indices

On the previous day, 19th March, 2026, the Nifty 50 continued its downward trajectory, reflecting sustained bearish sentiment. It opened sharply lower at 23,197.75, nearly 580 points below the previous close, and immediately faced selling pressure without any meaningful recovery. Although the index briefly stabilized around the 23,200 mark, it failed to hold that level and slipped further to an intraday low of 22,930. It eventually closed at 23,002.15, marking a decline of 775.65 points (3.26%). From a technical perspective, resistance is placed in the 23,200–23,250 range, while support lies between 22,850 and 22,900. The RSI at 29.74 suggests oversold conditions.

On Thursday, the Nifty Bank index also opened with a sharp fall of nearly 1,860 points and remained under continuous selling pressure throughout the session. This persistent weakness dragged it down to an intraday low of 53,240.6, indicating strong bearish dominance and minimal buying interest. The index closed at 53,451, down 1,875 points (3.39%), underscoring ongoing downside momentum and a risk-off sentiment in banking stocks. Technically, resistance is seen in the 53,800–54,000 zone, while support is positioned at 53,100–53,200. The RSI stands at 28.75, signaling deeply oversold conditions and the possibility of short-term consolidation.

Foreign Institutional Investors (FIIs) extended their selling pressure on March 19, 2026, offloading equities worth around ?7,558 crore, reflecting continued risk-off sentiment. Meanwhile, Domestic Institutional Investors (DIIs) remained supportive, purchasing equities worth approximately Rs.3,864 crore, helping to partially cushion the sharp decline in the domestic markets.

Considering the sharp sell-off witnessed on March 19, 2026, along with persistent global uncertainties and heightened volatility in the markets, investors are advised to maintain a cautious and disciplined approach. On March 20, 2026, it may be prudent to focus on accumulating fundamentally strong stocks on deeper declines rather than attempting to chase short-term pullbacks. Fresh long positions should ideally be considered only once the Nifty manages a decisive recovery and sustains above the 24,500–25,000 mark, as such a move would indicate improving market sentiment and could pave the way for a more stable recovery ahead.

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