Outlook of Nifty and Stock Picks for Mint Live: March, 19 2026

Technical Observation: Nifty

After showing a sustainable bounce back in the last three sessions, Nifty tanked on Thursday on the backdrop of weak global cues and is currently trading lower by 515 points.

After the formation of series of lower tops and bottoms over the last one month, Nifty seems to have formed a new lower top on Wednesday at 23862 levels. The current weakness is expected to form a double bottom or a slight lower bottom around the support of 22900 levels in the near term. Immediate resistance is at 23400.

Stock Picks

Buy ATHER ENERGY LTD @ 757, Target 815, Stoploss 725, Timeframe 1 week.

After showing a range bound action in the short term, the stock price has witnessed sharp upmove in the last few sessions. The stock price is currently placed at the edge of decisive breakout of important resistance band around Rs 755-760 levels. Volume has started to rise during upmove in the stock price and daily RSI shows positive indication.

Sell RBL BANK @ 293.65, Target 277, Stoploss 303, Timeframe 1 week.

After witnessing a consolidation movement in the last 3-4 sessions, the banking stock has declined on Thursday. Presently, the stock price is placed at the edge of breakdown of key support at Rs 290 levels. A decline below Rs 290-288 levels is likely to open sharp weakness in the near term. Daily and weekly RSI shows negative indication.