Market bias is likely to be on the lower side in the coming week. Here's what investors must do

For the second day straight, Sensex and Nifty closed down in the negative territory on March 5, following global peers as US-Bond yields soared.

The S&P BSE Sensex ended 440 points lower at 50,405, while the 50-stock NSE Nifty gave up the 15,000 levels on Friday.

Banking stocks were dragging markets lower with HDFC Bank and ICICI Bank being the top index contributors.

ONGC, Maruti Suzuki, and Kotak Mahindra Bank were the top index gainers.

Volatility soared higher during the day but on closing had pared some gains. Volatility increased on a day-to-day basis. But, on a weekly note, INDIA VIX came off some 9.18% to 25.56.

Both price trends and investor sentiment of the domestic equity market got affected by the spike in US bond yields.  A rise in Brent crude prices was a double whammy.

Here’s how experts believe markets will trade on Monday

Manish Shah, Founder, Niftytriggers.com

It was a volatile week for Nifty as the rally seen in the first three days of the week was not sustained as we had a two-day decline. The pattern for the week is a candle with a long upper shadow but it seems that the bearishness in the previous two weeks was not sustained.

On the daily, it was a spinning top candle or a Doji. This is a common doji as it is within a range and nothing much can be inferred from this. The silver lining that we have is a possible 5-0 bullish harmonic pattern on the lower time frame charts which does indicate the possibility of a Nifty moving higher. In essence the decline in the last two days seems to have corrected the rally from Monday to Wednesday.

Oscillators show mixed and conflicting signals. MACD is in a sell mode and RSI is hovering around 50. We still to get confirmation from additional price action. Nifty needs to show a break above 15,175 for the rally to continue. If Nifty breaks below 14850 expect a drop to 14,650 and below that to 14,550.

Shrikant Chouhan, EVP, Equity Technical Research, Kotak Securities:-

On the weekly basis, despite the market closed in the positive territory the market mood was sluggish. A substantial jump in the long term treasury yields and upward activity in the dollar index towards 92, resulted in weakness across the globe. The Nifty/Sensex closed below the crucial supports of 14,950 and 50,500 on a daily basis.

The bank nifty has narrowed down the trading range and closed at an unchanged level on a weekly basis. The dollar index has formed a series of higher high and higher low that could be the cause of concern as it controls or curtail inflows for emerging markets. On a daily basis, the market has formed the long-legged Doji formation, which is an indication of indecisiveness.

However, in the short term until the market is not breaking 15,280 levels our bias should be on the downside. In the coming week, we could see, Nifty/Sensex touching minimum 14,750/50,000 or 14,550/49,300 levels. On the higher side, 15,150/51,200 and 15,280/51,600 would be major hurdles. The focus should be on FMCG and auto companies.