Stock Market Holiday On March 31: Is Trading On BSE, NSE Closed On Monday For Eid? Weekly Outlook Here!

Eid Ul Fitr 2025 Holiday: Indian stock market will be closed on March 31, 2025, due to the celebration of Eid Ul Fitr across India. Eid Ul Fitr marks the month-long fasting period of Ramadan, and is the longest festival in Islam. On this festival, markets are usually closed. Notably, with the trading session for March ended last week, Sensex and Nifty recorded their best monthly gains since their peak levels of September 2024.

Stock Market Holiday:

As per BSE, NSE listed of holidays for March 2025, the date of March 31 is a holiday due to Eid Ul Fitr. That being said, traders will not be able to buy or sell in equity, equity derivatives, derivatives, commodities, forex and other market related instruments.

Sensex, Nifty In March 2025:

Sensex ended the month of March at 77,414.92. Overall, in March, the 30-scrip benchmark posted 4,216.82 points or 5.76% gains. Similarly, Nifty closed the month at 23,519.35, with upside of 1,394.65 points or 6.30%. This also makes Sensex and Nifty better performing assets in March compared to safe haven like gold which gained by 5.3% overall.

According to Vinod Nair, Head of Research, Geojit Investments, Asian markets are experiencing a new phase of consolidation as the latest U.S. tariff measures are expected to have a significant impact on major manufacturing economies. Additionally, a rise in Japan's CPI has contributed to the prevailing weakness. Domestically, the market's upward momentum has stalled as investors evaluate the implications of these tariffs on the auto, ancillary, pharma and others sectors. Meanwhile, gold prices have reached a new high, on concerns that a deepening of the trade war could further deteriorate global economic health.

Also, Shrikant Chouhan, Head Equity Research, Kotak Securities said, Indian markets continued to witness positive sentiment from foreign investors. Post persistent selling over the past many month, FII's has turned net buyers over the past few days.Tariff war will likely continue to dominate the direction of the markets globally. Further, RBI policy and Q4FY25 financial performance (including management commentary) are important factors to watch out for in the coming weeks."

Weekly Outlook For Sensex, Nifty:

Key Events To Watch Out:

Ajit Mishra - SVP, of Research, Religare Broking said, that with the upcoming holiday-shortened week, market participants will turn their attention to global developments in the absence of major domestic triggers. The implementation of reciprocal tariffs from April 2 and its broader implications on global trade will be closely monitored.

Meanwhile, Puneet Singhania, Director at Master Trust Group said, the upcoming week is set to be volatile for global and Indian markets, driven by India-US tariff policy developments, the impact of US President Donald Trump's announcement of a 25 % tariff on finished vehicle imports effective April 3 and US Fed Chair Powell Speech.

Also, Singhania added, India's HSBC Composite PMI data for March is set to be released on Friday, April 4, with a projected value of 58.6. A reading stronger than expectations could signal strong economic expansion, influencing investor sentiment and market trends.

Technical Outlook:

On Nifty, Singhania said, Nifty surged 6.3% for the month, reversing the previous month's decline and closed on a strong positive note, supported by consistent foreign inflows. The index formed a bullish engulfing candle on the monthly chart, reinforcing its upward momentum. It is currently trading above the key 21-day and 55-day EMAs indicating a strong bullish trend and making it favorable for a "buy on dips" strategy. Additionally, the daily RSI remains above the 14-day SMA, further confirming bullish sentiment. Strong support is placed at 23300, and if breached, the index could decline toward 23000. On the upside, resistance is seen at 23800, and a breakout above this level could drive Nifty towards 24100, potentially extending the rally.

On Bank Nifty, Singhania added, Bank Nifty rallied for the second consecutive week, closing the month with strong gains of 6.66%, forming a bullish candle this month. The index is trading above the key 21-day and 55-day EMAs, indicating a positive trend. Additionally, the RSI is above the 14-day EMA, reinforcing bullish momentum. Prices are sustaining above the double-bottom breakout pattern, visible on the weekly chart, further strengthening the positive outlook. Key support is placed at 50600, which aligns with the neckline of the breakout. If this level is breached, downside pressure may emerge towards 50000. On the upside, resistance is at 52000, and a breakout above this level could trigger a rally toward 52600. The trend remains favorable for a "buy on dips" approach.

Furthermore, Mishra said, Nifty continues to consolidate within a narrow range of 23,400-23,800, while staying above key support levels marked by the 100- and 200-day exponential moving averages (DEMA). A decisive breakout could open the door for a rally towards 24,100, whereas a breakdown may extend the consolidation phase, with the next major support at 23,100.

In case of banking stocks, Mishra's said, the banking index outperformed the broader market, posting nearly 2% gains amid consolidation. The 50,700 level, which previously acted as resistance, has now turned into a key support. The index is expected to gradually move towards 52,800, with 53,900 as the next upside target.

What Should Investors Do?

In Mishra's opinion, traders should maintain a "buy on dips" strategy, prioritizing sectors with sustained strength. Banking and financial stocks remain our top picks, while selective opportunities can be explored in other sectors and broader market as well. However, caution is advised in IT stocks, which signal potential underperformance in the near term.