Last Updated:
Nifty Prediction For Monday: The weak indication comes after a volatile week for Indian equities, which saw heavy selling pressure amid escalating Iran-Israel-US war.
Nifty Prediction For Monday, March 9.
Nifty Prediction For Monday, March 9: Indian equity markets may start the coming week on a weak note, as the GIFT Nifty, an early indicator of how Indian markets may open, is signalling another sharp gap-down opening on Monday, March 9. The weak indication comes after a volatile week for Indian equities, which saw heavy selling pressure amid rising geopolitical tensions and a sharp spike in crude oil prices due to escalating Iran-Israel-US war.
At around 12:15 pm on Saturday, the GIFT Nifty, or Nifty Futures, was trading about 274 points, or 1.11%, lower at 24,300, indicating a likely gap-down opening for the Nifty 50.
Markets End Week With Sharp Losses
Indian stock markets ended the week with significant declines. The Nifty 50 closed the week at 24,450, falling 2.9%, while the Sensex settled at 78,919, also down 2.9%. The Bank Nifty underperformed the broader market and dropped 4.5% to close near 57,783.
According to Ponmudi R, CEO of Enrich Money, the weakness was largely driven by global uncertainties and rising energy prices. “Indian equity markets remained volatile and under sustained selling pressure in the week ended March 6, 2026, as escalating global geopolitical uncertainties and the accompanying rise in crude oil prices kept investor sentiment subdued.”
Oil Prices And Middle East Tensions Weigh On Markets
The key trigger for the market decline has been the escalation of tensions in the Middle East, particularly the conflict involving the US and Iran.
The situation has raised concerns about disruption to tanker movement through the Strait of Hormuz, a critical global oil shipping route. The uncertainty pushed crude oil prices sharply higher during the week, with Brent crude briefly rising above the $90–95 per barrel range.
Higher crude prices are a major concern for India because the country is the world’s third-largest oil importer.
A sustained rise in oil prices could widen India’s current account deficit, increase imported inflation and put pressure on the rupee. It also raises input costs for sectors such as transportation, power, cement and refining.
FIIs Continue Heavy Selling
Foreign institutional investors continued to exit Indian equities during the first week of March.
FIIs sold equities worth Rs 21,831 crore, reflecting cautious global sentiment and shifting capital flows.
However, domestic institutional investors helped cushion the fall. DIIs bought equities worth Rs 32,787 crore during the same period, providing strong support to the market.
Nifty Technical Levels To Watch
Market experts say the 24,300 level will be crucial for Nifty in the coming sessions.
Ponmudi R said the index is approaching an important support zone.
“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,” he said.
On the upside, immediate resistance for the index is seen around 24,700-24,900.
Momentum indicators are also weak. The RSI is in the mid-30s, indicating near-oversold conditions, while MACD remains in negative territory.
Ravi Singh, chief research officer at Master Capital Services, said the recent market weakness reflects rising global risks and persistent foreign investor selling.
“The Indian benchmark indices remained under pressure amid escalating geopolitical tensions in the Middle East,” he said.
According to him, crude oil prices surged nearly 25% during the week, reviving inflation concerns and weighing on investor sentiment.
From a technical perspective, Singh said Nifty has broken key trendline support and is now trading below its 200-day EMA, indicating a deepening bearish trend.
“For the coming week, the 24,300 level stands as the critical make-or-break support, and a breakdown here could drag prices toward the 24,000 psychological level,” he said.
On the upside, 24,700 and 25,000 are expected to act as strong resistance levels.
What Investors Should Watch
Going into the new week, market direction is likely to be influenced by three key factors —
developments in the Middle East conflict, movements in crude oil prices, and foreign institutional investor flows.
With global uncertainty still high and crude prices elevated, analysts expect markets to remain volatile in the near term. For now, the broader view among experts remains cautious, with many advising investors to adopt a ‘sell on rise’ strategy until key resistance levels are reclaimed.
Click here to add News18 as your preferred news source on Google.
Follow News18 on Google. Join the fun, play games on News18. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Also Download the News18 App to stay updated.
March 07, 2026, 12:43 IST
Read More