The Indian stock market is likely to start on the positive side on March 24, 2026, as the global sentiment improves following the signs of de-escalation of the US-Iran conflict. GIFT Nifty trends are suggesting the gap-up opening and trading at 22,843 with a premium of 328 points over the last Nifty future close.

This follows a drastic sell-off in the last session, in which the benchmark indices experienced massive losses amid geopolitical uncertainty.

Recap

On Monday, 23 March 2026, there was great pressure on Indian equities. The Sensex went down by 1,836 points or 2.46% to settle at 72,696, and the Nifty 50 fell by 601 points or 2.60 to close at 22,512.

Broader markets suffered more as midcap and smallcap indices fell by about 4% each, evidence of widespread risk takers. 

Meanwhile, India VIX spiked 19.1% to its highest level since June 2024, indicating high volatility in the near future.

Global Cues Support Recovery

The global markets have gone green following the news that the US has postponed the possibility of attacking Iran by five days, hence delaying the anxiety of scarcity of supplies in the short term.

Crude oil prices that had soared had been corrected by more than 11%, which decreased the inflation. This decrease in energy costs is likely to favor equities, specifically in such new markets as India.

Nifty 50 Outlook

Even with this anticipated favorable opening, technical indicators show that the overall trend is weak. The Nifty 50 has broken the crucial support of 23,000-22,900, forming a bear structure of lower highs and lower lows.

The support has been pegged at 22,500, and a fall below the mark may pull the index down to 22,000-21,800. 

On the upside, the 22,700-22,800 zone can be regarded as a key resistance, and selling pressure can be observed here.

The derivatives data also shows high levels of call writing at 22,600 and put writing at 22,500, and this shows that the trading range is not wide in the short term.

Sensex Outlook

The Sensex has fallen below its key support level of 74,000-73,500, which is a sign that it has traversed to short-term bearish momentum.

The support is now considered to be around the 72,000-72,200 zone, whereas the resistance is observed between the 73,000-73,200 zone. 

Analysts predict any compression away from resistance to encounter selling pressure unless a formidable buying opportunity arises.

Bank Nifty Outlook

Bank Nifty remains weak, declining by 3.72% or 1,989 points to 51,437. The index has already reduced by almost 17% since its high in only 33 sessions, indicating that the selling in the banking stocks has been sustained.

The key resistance is at 51,900-52,000, and the support is observed around the 50,700 and 50,000 levels. 

The technical indicators, such as RSI at 24 shows oversold and yet the overall direction is bearish.

Also Read: US Stock Market Today: Wall Street Edges Higher, Oil Drops as Trump Delays Iran Strikes