Indian benchmark indices, Sensex and Nifty 50, are poised for a positive start on March 25, taking cues from GIFT Nifty, which hovered around 23,758 earlier this morning. March has been a defining month for the markets—Nifty 50 not only emerged from its correction phase but also turned positive for the year. Sensex, while still slightly in the red year-to-date, has also climbed out of correction territory.

On Monday, the indices extended their winning streak to six sessions, scaling one-month highs, fueled by strong buying in heavyweight sectors like banking and IT. The market’s rebound has been underpinned by upbeat global cues, a stronger rupee, easing valuations, and renewed interest from foreign institutional investors (FIIs), who have turned net buyers in three of the last four sessions after a month of relentless selling.

Yet, risks remain—geopolitical tensions and tariff-related disruptions could cloud sentiment. The market’s path ahead will hinge on a sustained recovery in domestic consumption and the resilience of corporate earnings.

Here are key levels to watch out for in today's session

"The 23,500 zone for the Nifty, followed by the 89 DEMA coinciding with the recent bullish gap of 23,433-23,400, is likely to cushion any shortcomings in the near period. On the flip side, the swing high of Feb’25 around 23800 seems the intermediate potent resistance, followed by 24,100 (200 DSMA) in the comparable period," Osho Krishan of Angel One said. "Looking ahead, we have a promising opportunity to capitalize on the significant shifts in market trends alongside the strong momentum as we approach the monthly expiry. With a positive outlook, one must consider dips in the market as valuable buying opportunities," he added.

"Technically, Bank Nifty has surpassed the resistance of the 200-Day Simple Moving Average (200-DSMA) and formed a bullish candle on the daily charts, indicating continued strength. The immediate support for Bank Nifty is placed near 50,970, where its 200-DSMA is located, while the next major resistance is around 52,000, which coincides with its previous swing high," Hrishikesh Yedve Assistant Vice President of Technical and Derivatives Research at Asit C. Mehta Investment Intermediates said. He added that a sustained move above 52,000 could trigger a fresh breakout in Bank Nifty. Traders are advised to adopt a "buy on dips" strategy to capitalize on the ongoing momentum.

The Nifty Put-Call Ratio (PCR), a key gauge of market sentiment, climbed to 1.22 on March 24 from 1.15 in the previous session. A rising PCR, especially above 0.7 or surpassing 1, suggests traders are offloading more Put options than Calls, signaling strengthening bullish sentiment. Conversely, when the ratio dips below 0.7 or nears 0.5, it indicates heavier selling in Calls than Puts, pointing to a bearish outlook.