Mid-week market commentary: Check key support and resistance levels for NIFTY50 and NIFTY Bank

NIFTY50: What happened last week?

Last week, Indian stock markets ended flat, with a slight dip on the last trading day. The ongoing trade tensions and foreign capital outflows kept the markets from gaining much traction. However, this week kicked off on a more positive note, thanks to strong industrial output and lower inflation numbers that were released at the end of last week.

FII & DII activity

FIIs were net sellers of ₹792.90 crore, while DIIs were net buyers to the tune of ₹1,723.82 crore on March 13, 2025. On March 17, FIIs continued to be the net sellers as they net sold ₹329.12 crore worth of Indian equities.

How did the major world indices move?

In the US, major indices saw a sharp rebound on Friday after four straight days of losses. The easing risk of a government shutdown outweighed the concerns over rising trade tariffs, which boosted investor sentiments.

European markets carried the positive momentum from last week and started Monday’s session on a strong note. Reports also came out suggesting that German lawmakers had agreed on changes to the country’s "debt brake" rule, which limits how much the government can borrow. The news pushed the markets higher.

Asian markets followed suit, kicking off Monday’s session on a positive note as well, mirroring the movements of the global markets.

Economic events ahead

This week, there are key events to watch out for, especially the Fed and BOJ monetary policy meetings. The Federal Reserve is expected to keep interest rates unchanged and monitor the impact of Trump’s policy decisions on the economy. Similarly, the Bank of Japan is expected to maintain its rates and monitor the effects of its previous rate hikes.

NIFTY50 and NIFTY Bank support and resistance levels

NIFTY50 had a positive start on Monday, with the opening price and the low being similar, indicating positive momentum throughout the day. It closed in the green, gaining about half a percent. Looking ahead, immediate resistance is seen at 22,580 and 22,675 levels, with support at 22,315.

NIFTY Bank found support last week at the 47,840 level and has been steadily rising since then. If the momentum continues, the index is expected to witness resistance at around 48,600 and 48,840 levels. For now, 47,840 remains a key support level.