In this week’s Stocks of the Week (14 March 2026), we analyze the current market structure after a sharp correction in the indices. Bears continued to dominate the market throughout the week, and Nifty breaking the crucial 23,800 support level has shifted the short-term sentiment towards caution.
The index has now entered the unfilled gap zone of 22,924 – 23,207, which could act as a potential zone for short covering or temporary pullbacks. However, the breach of the 61.8% Fibonacci retracement of the 52-week swing suggests weakening medium-term momentum.
In this video, we will discuss:
📊 Nifty Technical Analysis
• Important support: 22,900 – 22,880
• Next supports: 22,655 & 22,480
• Resistance levels: 23,400 – 23,425
• Short covering levels: 23,640 & 23,780
📉 Bank Nifty Analysis
Bank Nifty has corrected more than 7,200 points in just 10 trading sessions and is currently hovering near the 53,500 – 53,000 support zone. While a technical pullback is possible, rallies may continue to face selling pressure.
🌍 Macro Factors to Watch
• USD/INR at record high: 92.49
• Crude Oil up 8.24% last week
A rising dollar and crude prices can continue to weigh on market sentiment, so traders should closely monitor these developments in the coming week.
📌 Options Data Insights
• Strong 23,000 PE open interest suggests support near 23,000
• Heavy 23,500 & 23,600 CE OI indicates resistance above
• PCR at 0.58 signals market moving toward oversold territory
⚠️ Caution
Short-term traders should remain cautious and avoid aggressive longs at higher levels until the index reclaims 23,800 with strong closing confirmation.
📅 Stocks of the Week + technical levels discussed in the video
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