Nifty 50 can open with a wide gap-down below 25,000. The key levels to watch during the week will be 24,800 and 24,400
| Photo Credit:
VIVEK BENDRE
The US and Israel’s combined attack on Iran over the week is all set to jolt the Indian financial markets on Monday. The following is our take based on the current situation. Things may change based on how soon the situation eases.
Gap-down open
Nifty 50 can open with a wide gap-down below 25,000 on Monday. The index has closed at 25,178.65. The key levels to watch during the week will be 24,800 and 24,400. The extent of the fall or the chances of a recovery will depend on further developments
From a long-term perspective, 24,000 will be a very crucial level to watch on the Nifty. Indian investors may have to brace for severe pain only if the Nifty declines below it. So, we will have to wait and watch.
Oil impact
Crude Oil price can see a spike on Monday. The Brent Crude ($72.90 per barrel) can rise above $75 and approach $80. The possible disruption of the movement in the Strait of Hormuz may worsen the scenario. On the back of this, if Brent Crude goes above $82, then there are good chances to see $90-92 as well.
Stocks to watch
High crude oil prices can aid the upstream (exploration and production) companies such as ONGC, Oil India, etc., in increasing their revenues. Their share price can go up.
On the other hand, downstream (refining and marketing) companies will feel the pinch as high oil prices will increase their input cost. IOCL, BPCL, HPCL, Reliance Industries, etc., can take a hit.
FMCG and paint companies such as HUL, Asian Paints etc can also have a negative impact.
Weak Rupee
The Indian Rupee will come under risk of weakening. The domestic currency had closed at 90.98 on Friday. On the charts, there is room for the rupee see a new low of 92.50 in the coming weeks if the tensions do not ease. However, it will be important to see if the central bank intervenes to arrest the fall.
More glitters
Gold will be the clear winner amid all this chaos. The yellow metal, which has closed at $5,278 per ounce on Friday, has the potential to see a surge to $5,900-6,000 in the coming weeks.
Published on March 1, 2026
