‘Indian markets may face selling if Nifty breaks 23,000 level’:Next week investors can ‘Buy on dips FMCG, Pharma Defence’ stocks

In the week starting from 18 May, there is going to be significant volatility in the stock market. From US-Iran tensions and foreign investor selling to technical factors will determine the market direction. Let’s understand what could happen in the market next week Support and Resistance Support Zone: 23,466 | 23,345 | 23,320 | 22,858 | 22,780 | 22,558 Support means the level where a share or index gets support from falling down. Due to increased buying here, the price doesn’t fall easily. There could be a buying opportunity here. Resistance Zone: 23,812 | 23,872 | 23,935 | 24,140 | 24,382 | 24,450 Resistance means the level where a share or index faces obstacles in moving up. This happens due to increased selling. Upon crossing the resistance zone, there is hope for a bullish trend. Note: The support and resistance levels are according to the Wealth View Analytics report. Now 5 factors that can determine the market direction 1. US-Iran war and peace talks It has been almost three months since the US-Iran war began. Iran has announced that it will soon present a proposal to manage maritime traffic through the Strait of Hormuz. Responding to this move, Donald Trump has warned that if Iran refuses to move forward on a peace agreement, it will have to face serious consequences. 2. Surge in crude oil prices Crude oil prices rose more than 3% on Friday after statements by US President Donald Trump and Iran’s Foreign Minister. These statements have weakened hopes of an agreement to stop attacks on ships near the Strait of Hormuz. Brent crude futures closed 3.35% higher at 109.26 per barrel. 3. Sixth week of fourth quarter results More than 500 companies will release their financial results for the quarter ending March 31, 2026. Major giant companies include Bharat Electronics (BEL), Bharat Petroleum Corporation (BPCL), Lenskart Solutions, LIC, and FSN E-Commerce Ventures (Nykaa). 4. Continuous FII Selling Foreign investors have sold shares worth ₹27,177 crore till the 16th of this month. With this, their total selling in the year 2026 so far has reached ₹2,31,486 crore. 5. Technical Factors Sensex Enrich Money’s CEO Ponmudi R said that the Sensex is currently around the zone of 75,200 to 75,300. This shows that amid persistent global uncertainty and volatile market conditions, the market is trying to recover slowly and cautiously. The immediate resistance for the market is in the range of 75,600 to 76,000, while strong support is visible around the zone of 74,500 to 74,200. The market will now give a major breakout (breaking the range) in either direction, only then will the real move of the market ahead be determined. Nifty 50 On the outlook of Nifty 50, Akash Shah, Technical Research Analyst at Choice Broking, said that if the market moves upward, the immediate resistance for it will be at 24,000 and 24,250. However, if the market falls, it may get support at 23,250. If Nifty breaks the level of 23,000, the selling pressure could increase further. Looking at the current market conditions, traders are advised to remain disciplined and follow a strict stop-loss strategy (rule to avoid losses) amid this volatility. Indian markets remained range bound in the last session in “wait and watch” mode with emerging worries from PM Modi statement on Petrol, Diesel and Gold consumption. On the hand, the growing concerns between IRAN-US talks is also making the market participants nervous on the street. -Arun Mantri, founder, Mantri Finmart The ace market expert has advised investors to adopt “BUY ON DIPS” strategy keeping view on the neutral side. According to him, one can look to add stocks from “FMCG, PHARMA DEFENCE” sectors.
Above analysis is of stock market experts. This is not an investment advice from Baskar Group.