Market Outlook: Can Nifty 50 surpass 23,600 and Bank Nifty exceed 55,000 with rising oil costs?

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Nifty 50, Bank Nifty: Key Levels to Watch Amid Elevated Oil Prices

Nifty Trading Plan for March 18

M

Moneycontrol•18-03-2026, 04:35

Nifty 50, Bank Nifty: Key Levels to Watch Amid Elevated Oil Prices

•Nifty 50 needs to sustain above 23,600-23,700 for a rally towards 23,800-24,000; support at 23,350.
•Bank Nifty must cross 55,000 convincingly for a move to 56,000; support at 54,100.
•Market rallied 3% in two sessions from March 16 low due to short covering and cooling VIX.
•Elevated oil prices above $100 a barrel and geopolitical tensions continue to influence market sentiment.
•Experts suggest buy-on-dips strategies for both Nifty and Bank Nifty with strict stop-loss discipline.

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