Pre-Market 18 March 2026: Nifty Above 23,550; Will The Rally Continue?

Indian equity markets enter Wednesday, 18 March, following another day of gains, though the broader mood remains cautious.

The recovery that began earlier in the week continued despite intermittent volatility during the day. The Nifty has now bounced sharply from Monday’s low near 22,955, reflecting some improvement in near-term sentiment.

Still, traders remain watchful. Market risk appetite is, nevertheless, influenced by international affairs, particularly the ongoing conflict between Iran, Israel, and the United States. Investors are also cautious due to rising crude oil costs and a strong US dollar.

Yesterday’s Market Recap

Trading began on a positive note on Tuesday, and the Nifty gradually moved higher through most of the session.

The closing of the gap that was formed earlier this week, close to the 23,550 mark, was one significant event on the charts. The index eventually closed around that zone, a level that traders had been monitoring closely.

Sectoral performance, however, was not uniform. Automobile and metal stocks were among the strongest performers during the session. On the other hand, weakness was visible in IT and FMCG stocks, which ended the day slightly lower.

Global Markets And Oil Prices

Oil prices have surged since tensions intensified in the Middle East. Iran has restricted traffic through the Strait of Hormuz, one of the most important shipping routes for crude oil. Roughly 20% of global oil supply normally moves through this corridor.

Supply concerns pushed prices higher again on Tuesday.

• Brent crude climbed to about $103.73 per barrel
• WTI crude rose to roughly $97.29

Any prolonged disruption in the region could tighten supply further and add to inflation pressures worldwide.

Equity markets globally have been reacting to these developments.

On Wall Street, the previous session saw strong gains:

• S&P 500 rose 1%
• Dow Jones advanced 0.8%
• Nasdaq jumped 1.2%

Asian markets, however, showed mixed trends. Japan’s Nikkei 225 slipped slightly, while South Korea’s Kospi surged 1.6%. Hong Kong’s Hang Seng edged higher, whereas China’s Shanghai Composite declined modestly.

Commodities

On the MCX, silver prices climbed around 2% to ₹261,457 per kilogram, while gold advanced 0.8% to ₹156,996 per 10 grams.

Spot gold was trading over $5,023 per ounce, while spot silver was trading close to $81.28 per ounce in international markets.

Technical Levels To Watch

From a technical standpoint, the recent rebound has improved the short-term outlook. Even so, the market has not yet crossed a key resistance area.

For the Nifty, the 23,600–23,700 band is being watched as the next resistance level. The present rebound would be strengthened with an ongoing climb above this level.

23,350 is considered an instant support level on the downside. Traders might reconsider the strength of the rebound if the index falls below this threshold.

Also Read - Post Market, 17 March 2026

What To Expect In Today’s Market?

Early indicators suggest a steady opening for Wednesday’s session.

The gains seen over the past two sessions could offer some support when trading begins. Strength in global markets may also help sentiment in the early part of the day.

Still, the broader market remains sensitive.

Investors are weighing the recent rebound against ongoing global uncertainties. Because of this, the focus may shift toward individual stocks rather than a broad move in the indices during the session.

Sources:

Moneycontrol

Mint