Indian Stock Market Outlook Today, 24 March 2026: Sensex, Nifty Likely to Stay Volatile Amid US-Iran Tension

Indian stock markets are expected to trade volatile on 24 March 2026, following Monday's sharp declines driven by rising US-Iran tensions. Traders are likely to remain cautious, with Nifty and Sensex showing a bearish bias in early trade.

Stock Market Outlook Today, 24 March 2026: Trump Announces 5-Day Delay on Iran Strikes; Tehran Rejects Claims

Concerns over potential disruptions in the Strait of Hormuz and threats to energy infrastructure heightened fears of supply shocks, keeping sentiment fragile. Crude oil prices plunged more than 11% after US President Donald Trump announced a five-day postponement of strikes on Iranian energy sites, following what he described as "productive conversations" with Iran.

However, Tehran denied these claims, maintaining uncertainty in the region.

Sensex, Nifty Prediction Today Amid Iran-US Tension

Monday's session saw the Nifty 50 decline 2.6% (over 600 points) and the Sensex fall 2.5% (over 1,800 points), with broader markets underperforming sharply. The Midcap 100 and Smallcap 100 indices fell 4% each, reflecting widespread risk aversion.

India Vix Rising: Market volatility surged, with the India VIX rising 19.1% to 27.17, its highest level since June 2024, signaling elevated near-term uncertainty.

Nifty Prediction Today, 24 March 2026

According to Bajaj Broking Research, Index formed a sizable bearish candle with a lower high and a lower low and a bearish gap above its head (23067-22851), signaling continuation of the downward bias for the fifth consecutive week.

"Technically, the index continues to show a bearish bias in both the short and medium term, as it is forming a pattern of lower highs and lower lows. Market volatility is expected to remain elevated in the near term amid uncertain global cues, rising crude oil prices, and escalating geopolitical tensions," said the brokerage.

Index breached the support area of 22,700 and dragged lower in yesterday's session. A follow-through weakness will open further downside towards 22,200 and 21,800 levels in the coming sessions. The daily and weekly oscillators have approached oversold territory.

Bajaj Broking further added, "However, until and unless we see any confirmation on the price front, the bias remains firmly down. Index has immediate resistance at Monday's gap down area of 23,067-22,851."

Bank Nifty Outlook Today

On the Bank Nifty, Bajaj Broking added Index formed a sizable bearish candle with a lower high and a lower low and a bearish gap above its head (53,297-52,665), signaling continuation of the downward bias for the fifth consecutive week. Volatility is expected to remain elevated in the near term, driven by rising geopolitical tensions and crude oil prices.

The brokerage also cautioned, "Bank Nifty breached the support area of 52,500 in yesterday's session and dragged lower below 51,500. A follow-through weakness will open further downside towards 50,700 and 50,000 levels in the coming sessions. The daily and weekly oscillators have approached oversold territory. Until we see confirmation on the price front, the bias remains firmly down. Immediate resistance is at Monday's gap down area of 53,297-52,665."

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