Stock market outlook: What's working in favour of the bulls and bears?

Here are three key factors that are working in favour of the bulls and bears and could dictate the market trend going ahead as per the technical charts.

Since the start of the calendar year 2024, the Nifty 50 has witnessed intermediate corrections, even as the NSE benchmark scaled life-time highs on multiple occasions owing to valuation concerns and uncertainty over the likely timing on US interest rate cuts.

Arguably, intermediate corrections in a rising market are said to be healthy for the long-run. However, such behaviour can leave both bulls and bears in a tizzy.

On March 13, the Nifty 50 broke below its 20-DMA (Daily Moving Average) for the fourth time in less than two months. The first time index broke below this short-term moving average