Nifty 50 weekly analysis covering market trend, technical levels, sector performance and FII–DII data for Indian stock market (16th March to 20th March, 2026)
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Nifty50 |
|||
|
Week High |
Week Low |
Market structure |
Range |
|
23862 |
22930 |
LHLL |
932 |
|
Nifty 50 |
||
|
Start |
End |
Return (%) |
|
23151 |
23115 |
-0.16 |
Indian equity markets continued to remain under pressure in Week 11, extending the ongoing downtrend. The index formed its 5th consecutive Lower High–Lower Low (LHLL) structure, highlighting persistent bearish control despite a relatively flat weekly return.
Nifty 50 Technical Analysis (Weekly View)
Moving Averages:
|
Wk |
Current |
50 DMA |
200 DMA |
|
8 |
25075 |
25695 |
25383 |
The index continues to trade significantly below both key moving averages of 50 and 200 DMA, reinforcing bearish sentiment. More importantly, Nifty 50 has formed a death cross on weekly basis where 50 DMA (25075) has crossed below 200 DMA (25383). A Death Cross is a major bearish signal in technical analysis indicating Short-term trend (50 DMA) turns weaker than long-term trend (200 DMA). Death Cross usually leads to extended consolidation or deeper downside before base formation.
Pivot level:
|
Pivot level (classical) |
||||
|
Resistance 1 |
23562 |
Pivot (23176) |
Support 1 |
23007 |
|
Resistance 2 |
23453 |
Support 2 |
22898 |
|
|
Resistance 3 |
23284 |
Support 3 |
22729 |
|
The index closed just below the pivot (23176), indicating continued bearish bias.
Indicators:
RSI: 32
RSI is in near oversold territory indicating weak momentum but potential for short-term bounce.
MACD: -601 Signal : -21)
MACD remains deeply negative, confirming ongoing bearish momentum despite slight stabilization in price.
India Vix : 22.8
Volatility remains elevated, reflecting uncertainty and cautious market sentiment.
Sector Performance (Weekly)
Despite a flat weekly return, internal rotation remained active with defensive sectors showing relative strength and cyclical sectors continuing to lag.
Top Performing Sectors:
FMCG continued defensive outperformance with srong domestic demand visibility
Pharma showed stability amid market weakness with export-oriented resilience
IT gave relative outperformance despite weak trend, supported by near-100 Dollar Index
Underperforming sectors:
Continued FII selling in banking heavyweights was key drag on financial services performance
Global uncertainty along with commodity volatility led to selling in Metals.
Realty which is sensitive to liquidity and rate outlook, showed high-beta correction.
Top gainers of Nifty 50:
HUL, ITC, Sun Pharma, Infosys
Top losers of Nifty 50:
HDFC, Tata Steel, Adani Enterprise, Indusind Bank
FII–DII Activity:
|
Net purchase/Sell (crore) |
|
|
FII |
DII |
|
-29897.67 |
30641.90 |
FII selling continues, though slightly reduced compared to Week 10 value of -35,052.03 cr. DII buying remains strong, providing crucial support to the market. The market is currently domestic liquidity-driven, with DIIs absorbing foreign outflows.
Global Factors:
Brent Crude (106.77 USD)
Dollar Index (99.5)
Brent Crude rose further to $106.77, maintaining elevated levels after the spike to $119.5 amid the US–Israel–Iran conflict. High crude prices continue to pose risks to inflation and corporate margins.
Domestic Macro:
CPI inflation: 3.1%
Forex reserves: $709.76 billion
For the month of February, CPI is at 3.1% which remains within RBI comfort range.
The forex reserves have declined from $716.81 billion to $709.76 billion. It Indicates continued external pressure and possible currency stabilization efforts.
Week 11 reflects a classic bearish continuation phase with signs of stabilization. Despite weak structure, the flat weekly return suggests selling pressure may be gradually exhausting. The market is nearing oversold conditions, increasing the probability of a relief rally. It is important to avoid aggressive longs and watch out for reversal signals like HHHL formation. A decisive move above resistance or breakdown below support will determine the next directional trend.
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