Nifty prediction for monday
Nifty Prediction for Monday
“Nifty 50 is currently approaching the 24,400 region. A sustained break below this support could extend the decline toward 24,300-24,200, which has previously acted as a demand zone,” stated Ponmudi R, highlighting the critical levels for the index as it heads into the new trading week.
On March 9, 2026, Nifty is anticipated to open with a gap-down, reflecting the ongoing market volatility. GIFT Nifty was trading about 274 points lower at 24,300, indicating a challenging start for investors.
The previous week saw Nifty 50 close at 24,450, marking a decline of 2.9%. Similarly, the Sensex settled at 78,919, also down 2.9%, while Bank Nifty dropped 4.5% to close near 57,783.
This downturn has been attributed to heavy selling pressure, particularly from Foreign Institutional Investors (FIIs), who sold equities worth Rs 21,831 crore during the first week of March. In contrast, Domestic Institutional Investors (DIIs) bought equities worth Rs 32,787 crore, indicating a mixed sentiment in the market.
The surge in crude oil prices, which rose nearly 25% during the week, has further complicated the market dynamics. Vinod Nair noted, “A sustained rise in oil prices could weigh on investor sentiment and adversely affect India’s twin deficits, inflation trajectory and the RBI’s monetary stance.”
As Nifty has broken key trendline support and is trading below its 200-day EMA, market analysts are closely monitoring the 24,300 level, seen as crucial support. A sustained break below this could drag prices toward 24,000.
Immediate resistance for Nifty is observed around 24,700-24,900, which traders will be watching closely. Given the heightened geopolitical risks and continued FII outflows, Ajit Mishra advised that investors should adopt a cautious and disciplined approach in the near term.
As the market opens on Monday, all eyes will be on the performance of Nifty and its ability to hold key support levels amidst the prevailing uncertainties.
