Weekly Market Outlook: March 23, 2026 The Nifty 50 index closed at 23,114, reflecting a weekly decline of 0.16%. Market sentiment remains cautious as tensions between the U.S., Israel, and Iran continue to escalate, driving up Brent crude prices to around $112. This rise in oil prices has weighed on equity markets, which typically move inversely to crude. The index has now extended its decline for the sixth consecutive week, forming a pattern of lower highs and lower lows, signaling a sustained downtrend. It continues to trade below its 100-week EMA, reinforcing a "sell on rise" strategy amid volatility. The MACD indicator shows a declining histogram, indicating weak upside momentum and subdued bullish strength in the near term. Traders are advised to consider short positions if the index rises toward 23,300, with potential downside targets at 22,700 and 22,500. A stop-loss should be placed at 23,650 on a closing basis. Investors, meanwhile, may look to accumulate shares in the 22,500–21,900 range, with a target set at 28,600, offering significant upside potential. The Nifty Midcap 150 index closed at 20,226, down 0.03% weekly. Since September 2024, the index has underperformed, slipping below its 20-month EMA on the monthly timeframe. On lower timeframes, it continues to form lower highs and lower lows, trading below its 200-day DEMA, which underscores a bearish trend and lack of recovery. Momentum indicators like MACD show a declining histogram and a softening MACD line, highlighting fading buying interest. Market breadth remains weak, with only 45 out of 150 stocks trading above their 200-day EMA, while the remaining 105 are below this level, indicating broad-based weakness. The Nifty Small Cap 250 index closed at 14,791, down 0.44% weekly.#nifty_50 #tata_consultancy_services #acme_solar #nifty_midcap_150 #nifty_small_cap_250
