Strait of Hormuz Crisis: Oil above $100, Nifty 50 to breach 23,500? Bank Nifty eyes 54,500
MMoneycontrol•13-03-2026, 04:44
Strait of Hormuz Crisis: Oil above $100, Nifty 50 to breach 23,500? Bank Nifty eyes 54,500
- •Rising oil prices above $100 due to intensifying Strait of Hormuz tensions are fueling risk-off sentiment in the market.
- •Nifty 50 is expected to breach the 23,500 support, potentially sliding towards 23,000, with 23,700-23,800 as immediate resistance.
- •Bank Nifty is projected to move down towards the 54,500-54,200 zone, facing immediate resistance at 55,600.
- •Bearish momentum indicators, lower high–lower low structure, and VIX above 21 signal further market weakness.
- •Experts advise caution, suggesting strategies like short straddles, selling on rises, or buying on dips near strong support levels.
