by Shrikant Chouhan, Head, Equity Research Kotak Securities
🕗 Last Update: 11 March 2026, 8.00 PM
Analysis for 12 March 2026
Today, the benchmark indices corrected sharply. The Nifty ended down by 395 points, while the Sensex was down by 1342 points. Among sectors, almost all the major sectoral indices registered profit booking at higher levels, but the Auto index lost the most, shedding over 3 percent. Technically, after a muted open, the market slipped below 24,000/77500, and post-breakdown, selling pressure intensified. On daily charts, it has formed a long bearish candle and is also holding a lower top formation, indicating further weakness from the current levels.
For day traders, as long as the market is trading below 24,000/77500, a weak sentiment is likely to continue. On the lower side, the market may retest the level of 24,700/76300. Further downside could continue, dragging the market till 24,600-24,550/76000-75800. On the flip side, above 24,000/77500, a pullback move could extend up to 24,150/78000
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