The Nifty could remain volatile next week as geopolitical tensions in West Asia persist. The index closed near a key support zone of 24,400 on Friday, and a break below could drag it to 24,300, and then to 24,000, while a move above the 24,700–24,800 zone is needed to stabilise sentiment, analysts said.

CHANDAN TAPARIA
HEAD – DERIVATIVES & TECHNICALS, MOTILAL OSWAL FINANCIAL SERVICES

Where is Nifty headed?
Nifty has been making lower top – lower bottom on weekly charts and corrected by more than 2,000 points from 26,341 to 24,305 in the last four weeks. Now till it holds below 24,700 zones, the immediate structure could remain weak to test the next meaningful support of 24,000–23,850 zones, while on the upside, hurdles are shifting lower at 24,700 and 24,850. Trading Strategies: The recommended strategy for Nifty Option for the next weekly, 17 March 2026, expiry is a Bear Put Spread. Traders are advised to buy one lot of 24,400 strike Put option and simultaneously Sell one lot of 24,000 strike Put option. Maximum risk in the strategy is 115 points (Rs 7,475), and a maximum potential profit is 285 points (Rs 18,525) per lot if the index expires below 24,000 zones towards the next weekly expiry.

TOP STOCKS FOR THE WEEK: Bharat Electronics: Buy at CMP Rs 468, Stop Loss: Rs 455, Target: Rs 495
Given a fresh consolidation breakout on daily and weekly scales with a decisive hold above the `455 zone. Recently, it gave a narrow range breakout on weekly chart and is holding well above its rising support trend line. It has seen a rise in trading and delivery volume with a breakout in the Defence index.

Oil India: Buy at CMP Rs 484, Stop Loss: Rs 472, Target: Rs 506
Oil India has been holding its 50-DEMA with the support of a rising trend line on the daily scale. Crude oil witnessed a massive surge with a breakout on multiple time frames along with a higher top-higher bottom on daily scale, which suggests a bullish stance in the entire sector.

AJIT MISHRA
SVP- RESEARCH, RELIGARE BROKING

Where is Nifty headed?
The index closed below the important 24,600 mark, indicating deterioration in short-term market structure. Next crucial support is placed around 24,050 zone, which coincides with the 100-week exponential moving average (WEMA). A breakdown below this level could extend the decline toward 23,800 region. On the upside, 24,800–25,200 zone is likely to act as a strong resistance band, and the index would need to reclaim this range to stabilise sentiment.

Trading Strategies: For Nifty, traders may consider a “sell on rise” approach in range of 24,700–24,800, with a stop loss at 25,000 and potential targets of 24,050–23,800. Among the themes, Nifty Defence index has witnessed a fresh breakout after spending more than one-and-a-half years in consolidation phase. Participants can consider playing this theme through an ETF. It is currently trading at 93.76, and one can accumulate it in 91–94 zone with a stop loss at 86 for a positional target of 110.

TOP STOCKS FOR THE WEEK:
Sun Pharmaceutical Industries: Buy at CMP Rs 1,799.40, Stop Loss: Rs 1,710, Target: Rs 1,960

Showing early signs of a trend shift as it emerges from a prolonged consolidation, supported by higher lows near the 200-week moving average and improving momentum indicators. A sustained move above the Rs 1,800–1,820 resistance band could confirm a broader trend reversal.

Hindustan Unilever: Sell March Futures at CMP Rs 2,234, Stop Loss: Rs 2,300, Target: Rs 2,120

Exhibiting a weak structure as the stock trades below key short-term moving averages and has slipped beneath the 20- and 50-week averages, breaching the immediate swing low around Rs 2,244.7.

SOMIL MEHTA
HEAD OF RETAIL RESEARCH, MIRAE ASSET SHAREKHAN

Where is Nifty headed?
Technically, 24,300–24,400 remains an important support zone, while 24,800–25,000 acts as a resistance area. Overall, the trend is still negative in the medium-term.

Trading Strategies: Traders may consider a ‘buy on dips’ approach for Nifty in range of 24,300– 24,400 with a stop loss at 24,150 and a potential target of 24,800.

TOP STOCKS FOR THE WEEK:
Hindustan Aeronautics: Buy at Rs 4,023, Stop Loss: Rs 3,840, Target: Rs 4,400
HAL has taken support at a crucial trendline and also broken out of a small consolidation on daily chart. Momentum indicators have given a positive crossover, and the stock is expected to bounce back sharply.

Avenue Supermarts: Buy at Rs 3,875: Stop Loss: Rs 3,730, Target: Rs 4,100.

Taken support at 61.8% retracement level of previous swing and has started forming higher tops and higher bottoms. Momentum indicators have turned positive and may continue the uptrend.