Trade Setup for March 17: Nifty bulls hope for a rebound after Wall Street relief rally on Friday – CNBC TV18
The Nifty and Sensex ended lower on Thursday as the weekly expiry of Nifty 50 options contracts exerted pressure on the indices throughout the session. Although the Nifty recovered nearly 80 points from the day’s low, it closed below the 22,450 mark—a level it had defended for five consecutive sessions.
For the week, the Nifty returned to the red after some respite in the previous week, ending the truncated week nearly 1% lower.
As many as 35 of the 50 Nifty stocks ended the session with losses.
Nifty Bank consistently defended the 47,840 level on the downside and managed to close above 48,000 on Thursday.
Sun Pharma emerged as the top gainer on the Nifty for this truncated week, rising nearly 5%, followed by ICICI Bank and Kotak Mahindra Bank, both up 3%.
IndusInd Bank had its worst week on record, plunging 28%, primarily due to a sharp one-day drop on Tuesday. Other major losers on the Nifty included IT stocks such as Wipro (-7%), Infosys (-6%), and Tech Mahindra (-3.5%).
Looking ahead, all eyes are on the US Federal Reserve’s monetary policy review scheduled for March 19. While recent inflation data suggests a favorable trend, the possibility of an interest rate cut remains uncertain due to ongoing trade tensions. However, the Fed’s commentary will be crucial for market direction.
Back home, market participants will closely track FII activity, as selling pressure from foreign investors has intensified again after a brief slowdown. Any improvement on this front could provide some relief to the markets.
This week might also see the IPO of Aris Infra, a technology-enabled platform for construction material procurement, which is expected to launch on March 20. The issue will remain open for public subscription until March 25, though the price band is yet to be announced.
What do the Nifty 50 charts indicate?
For the past three days, the Nifty has largely remained within the range of 22,350–22,550. A decisive move above 22,550 could trigger a meaningful rally in the short term. Conversely, a decisive fall below 22,350 could weaken sentiment in the short term, said Rupak De of LKP Securities.
Nagaraj Shetti of HDFC Securities said that a decisive upmove above the hurdle or upper range of 22,600 could open renewed buying enthusiasm towards 23,000 levels in the short term. However, any weakness below the lower range of 22,300 could drag index down to the next support of 22,000 levels.
“The ongoing consolidation in the Nifty index has kept participants cautious, but a decisive breakout from the 22,250-22,650 range is expected soon,” said Ajit Mishra – SVP, Research at Religare Broking.
What do the Nifty Bank charts indicate?
The Nifty Bank ended the session flat at 48,060.40. The index attempted to cross the 9 EMA at 48,350 but failed to sustain above it, highlighting near-term resistance.
On weekly basis, the index registered a 0.90% decline, reflecting continued weakness. In the broader timeframe, a strong uptrend is likely to emerge only above 48,600, while the index may remain in sideways consolidation until a breakout occurs. The immediate support levels are positioned at 47,800 and 47,600, which could act as critical zones in the event of further downside pressure, said Om Mehra of SAMCO Securities.
Here are the stocks to watch ahead of Monday’s trading session:
IndusInd Bank: Lender is well-capitalised, with a Capital Adequacy Ratio of 16.46% and a Provision Coverage Ratio of 70.20% as of December 31, 2024. The bank’s Liquidity Coverage Ratio (LCR) stands at 113% as of March 9, 2025, exceeding the regulatory requirement of 100%, said RBI on IndusInd Bank.
Tata Motors informed the exchanges on Thursday that its board will meet on Wednesday, March 19, to consider a fund raising proposal up to ₹2,000 crore.
Ola Electric: Rosmerta Digital Services Ltd, a maker of high security number plates and a vehicle registration agency, has taken Ola Electric to court for defaulting on a payment of approximately ₹18-20 crore. Ola Electric, which is one of India’s leading electric two-wheeler makers, made the disclosure in a stock exchange filing.
SpiceJet: Ajay Singh, Chairman and Managing Director of aviation carrier SpiceJet Ltd. sold some stake in the airline via block deals on Thursday, according to official data available on the Bombay Stock Exchange. Singh sold 1.15 crore shares or 0.89% of the total equity through these blocks, data indicated. The 1.15 crore shares were sold at an average price of ₹45.34 per share, taking the total transaction value to ₹52 crore.
Vishal Mega Mart: Shareholders of the retail chain operator will have to pay close attention to the trading session next Monday, March 17, as the company’s shareholder lock-in period ends that day.
Shilpa Medicare: US FDA issues form 483 with 0 observation for Raichur-based unit-2 of its arm Shilpa Pharma Lifesciences. US FDA inspected unit-2 of the Shilpa Pharma Lifesciences from March 10-14, 2025.
KEC International bags orders worth ₹1,267 crore.
TCS appoints Sudeep Kunnumal as Chief Human Resources Officer Designate effective March 14, 2025. He will take over as CHRO upon superannuation of Milind Lakkad.
JB Chemicals & Pharmaceuticals Ltd on Friday (March 14) announced that its API (Active Pharmaceutical Ingredient) manufacturing facility (D9) in Panoli, Gujarat, successfully cleared a US Food and Drug Administration (USFDA) inspection without any observations.
Dalmia Bharat: The cement maker on Saturday (March 15) said its material subsidiary Dalmia Cement (North East) Ltd has commenced commercial production at its newly expanded 2.4 million tonnes per annum (MTPA) cement grinding capacity in Lanka, Hojai district, Assam.
KPIT Technologies informed the exchanges that Qualcom Ventures LLC, will be the third shareholder in Qorix GmbH, the Joint Venture company of KPIT Tech.
Brigade Enterprises said it has launched its latest residential project, Brigade Eternia, in Yelahanka, Bengaluru. Spanning 14.65 acres, the project comprises 1,124 residential units with a total built-up area of approximately 2 million square feet across 12 towers of 2 basement + ground + 13/14 floors each.
