Market Outlook for March 24 Expiry Week
1. Market Performance
- Nifty surged 1,000 points (4.5%)—best week since 2021.
- Midcap & Smallcap indices gained 7.5% and 8.5%—best in five years.
- BSE market cap jumped ₹22 lakh crore, crossing ₹400 lakh crore.
2. Key Focus Areas
- Expiry Week & Earnings Season: Markets await Q4 & full-year results.
- US Tariffs from April 2: Uncertainty over impact remains.
- FIIs Net Buyers: Driven largely by passive inflows.
3. Technical Levels
- Nifty Resistance: 23,400 (short-term), 23,600 (next).
- Nifty Support: 23,250 (immediate), 23,100 (key).
- Nifty Bank: Nearing 51,000, bullish momentum intact.
4. F&O Market Trends
- Heavy OI Addition in Nifty Calls (23,600-23,800) & Puts (23,000-23,300).
- Key Stocks in F&O:
- Long Positions: Torrent Power, Poonawalla Fincorp.
- Short Positions: Jindal Stainless, NALCO.
5. Stocks to Watch
- Godrej Properties: Land deal worth ₹2,500 crore in Bengaluru.
- L&T: Approves ₹12,000 crore borrowing, promotes new Deputy MD.
- Apollo Hospitals: Buys 11.2% stake in Keimed for ₹625.23 crore.
- Power Grid: Sells ₹424.26 crore worth of equity in subsidiaries.
Conclusion
- Bullish sentiment continues, but expiry & global tariff concerns could add volatility.
- Key Levels: Nifty 23,400 (resistance), 23,250 (support).
- Stock-Specific Opportunities Emerging.
