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Live: Nifty to tread water ahead of Fed decision | Why is Tata Sons selling TCS stake? | Opening Bell

Indian equity market remained uncertain in trend with consistently taking support at 21,900 level and resistance at 22,200 mark for third consecutive session on March 18 after sharp correction on March 13, which overall indicates that the benchmark indices may be waiting for the outcome of central bank meetings (US, Japan and Bank of England) scheduled later this week. Hence, 21,900-21,850 is expected to act as a support for the Nifty 50 as breaking down of the same can bring more selling pressure, but trading consistently above 22,200 can strengthen the bulls for a move towards record high, experts said. On March 18, the market had a choppy session as some buying interest in second half helped the benchmark indices close moderately higher. The BSE Sensex rose 105 points to 72,748, while the Nifty 50 gained 32 points at 22,056 and formed small bullish candlestick pattern with upper and lower shadows on the daily charts, indicating volatility. However, the broader markets underperformed frontline indices, as the Nifty Midcap 100 and Smallcap 100 indices fell 0.4 percent and 0.6 percent respectively. Watch out for TCS as Tata Sons will sell 0.65% stake via block deal. Meanwhile, Popular Vehicles & services makes its Dalal Street debut today. Catch Nandita Khemka in conversation with Ajit Mishra--SVP, Technical Research, Religare Broking and Shrikant Chouhan, Head of Equity Research, Kotak Securities.

first published: Mar 19, 2024 09:35 am