Indian equity benchmarks Sensex and Nifty 50 closed significantly lower on Wednesday (March 11, 2026), as persistent volatility and cautious investor sentiment triggered broad-based selling across the market.
The Nifty 50 index opened on a flat note and briefly attempted to move above the 24,300 mark, touching an intraday high of 24,299. However, selling pressure intensified through the day, pushing the index down to a low of 23,834.30 before it eventually closed at 23,866.85, down 394.75 points, or 1.63 per cent. Similarly, the BSE Sensex declined by 1,342.27 points, or 1.72 percent, ending the session at 76,863.71.
The banking sector also witnessed strong selling pressure, with the NIFTY Bank index falling 1,215.05 points (2.13 percent) to close at 55,735.75.
Meanwhile, the India VIX surged 11.41 percent to 21.06, reflecting a sharp rise in market volatility and growing uncertainty among investors.
Nifty Prediction
Hitesh Tailor, Research Analyst - Research at Choice Equity Broking, said that today's price movement reflects strong bearish momentum in the market.
"From a technical perspective, the 24,000–24,050 zone is expected to act as immediate resistance, while the 23,700–23,750 range is likely to serve as a crucial support level," he said.
20 Day EMA: 24,938.59
50 Day EMA: 25,322.20
100 Day EMA: 25418.83
200 Day EMA: 25189.46
The Relative Strength Index (RSI) currently stands at 30.11, indicating that the market is approaching oversold territory, which could result in short-term consolidation or a technical rebound, he added.
In the derivatives market, notable put writing was seen at the 23,700 strike, while heavy call writing appeared at the 24,000 strike, indicating that traders expect the index to trade within this range in the near term.
"Considering the current setup, traders are advised to remain cautious near key support levels and avoid aggressive directional trades until the index manages to break above the resistance zone," the analyst said.
Nifty Bank Prediction
The Nifty Bank index followed a similar pattern during the trading session. It opened flat reaching an intraday high of 56,938.40. However, sustained selling in banking stocks dragged the index down to 55,631.95, and it finally closed at 55,735.75, registering a decline of 2.13 percent.
Technically, Hitesh said, 56,000–56,100 remains the immediate resistance zone, while 55,400–55,500 acts as an important support level. The RSI reading of 28.74 signals oversold conditions, suggesting the possibility of a short-term bounce or sideways consolidation.
