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Below the Quote on Pre-market comment for Monday March 30th by Hitesh Tailor, Research Analyst, Choice Broking

Indian equity markets are likely to open the trading session on March 30 with a gap-down and negative bias. The GIFT Nifty is currently hovering near 22,565, reflecting a decline of about 262 points (-1.15%), indicating a weak start for the benchmark indices.

On 27th March 2026, the Nifty 50 began the session on a weak note, opening with a gap-down of 132.90 points at 23,173.55. The index faced immediate selling pressure, with the day’s high placed near the opening level at 23,186.10, indicating lack of buying interest at higher levels. It remained under pressure throughout the session, slipping further to an intraday low of 22,804.55 before closing at 22,819.60, down 486.85 points (2.09%). The formation of a bearish candlestick reflects sustained weakness and negative market sentiment. Immediate support is placed between 22,450 and 22,500, while resistance is seen in the 22,950–23,000 zone. The RSI stands at 35.76, indicating weak momentum and remaining below the neutral 50 mark, suggesting that any recovery may face resistance at higher levels.

On 27th March 2026, the Bank Nifty index began the session on a weak note, opening with a gap-down of 463.85 points at 53,244.25. The intraday high remained close to the opening level at 53,292.50, reflecting immediate selling pressure and lack of buying interest at higher levels. The index continued to witness heavy selling throughout the session, slipping to an intraday low of 52,211.20 and eventually closing at 52,274.60, down 1,433.50 points (2.67%). The formation of a bearish candlestick indicates sustained weakness and negative sentiment in the banking space. From a technical standpoint, support is seen in the 51,000–51,100 range, while resistance is placed around 52,400–52,500. The RSI stands at 33.43, indicating weak momentum and remaining below the neutral 50 mark, suggesting that any recovery may face resistance at higher levels.

Foreign Institutional Investors (FIIs) extended their selling streak on March 27, 2026, offloading equities worth around Rs.4,367 crore, highlighting continued caution and a risk-off sentiment among global investors. Meanwhile, Domestic Institutional Investors (DIIs) provided partial support by purchasing equities worth approximately Rs.3,566 crore, helping to cushion the downside and lend some stability to the domestic markets amid prevailing volatility.

In light of the recent sharp decline, continued weakness in both Nifty 50 and Bank Nifty, along with elevated volatility and cautious global cues, investors are advised to maintain a disciplined and selective approach. It would be prudent to focus on accumulating fundamentally strong stocks on meaningful declines rather than chasing any short-term bounce. Fresh long positions should ideally be considered only once the Nifty decisively breaks above and sustains the 24,000 mark, as such a move would indicate improving market sentiment and could pave the way for a more stable and sustained recovery.

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