NIFTY 750 TOTAL MKT

Weekly options data signals strong resistance for Nifty 50 at 26,000, immediate hurdle at 25,500, while support at 25,000-24,900, Elevated VIX maintains caution for bulls as market approaches the Union Budget

* Weekly options data signals strong resistance for Nifty 50 at 26,000, immediate hurdle at 25,500, while support at 25,000-24,900
* Elevated VIX maintains caution for bulls as market approaches the Union Budget

shorts/business/technical-view-nifty-consolidates-after-3-day-rally-25-500-crucial-for-upward-journey-bank-nifty-holds-all-emas-ahead-of-budget

* Weekly options data signals strong resistance for Nifty 50 at 26,000, immediate hurdle at 25,500, while support at 25,000-24,900
* Elevated VIX maintains caution for bulls as market approaches the Union Budget

The Nifty 50 could not see follow-through buying interest on January 30 and snapped its three-day winning streak amid consolidation ahead of the Union Budget 2026, the much-awaited key economic event scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. The index remained within the previous day’s trading range throughout the session, but volume stayed strong, and the index consistently held above the 200-day EMA (25,170) for the fourth straight session.

The benchmark Nifty 50 needs to surpass and sustain above the immediate crucial hurdle of 25,450–25,500, as only above this zone could an uptrend be seen toward 25,600 (100-day EMA) and 25,700 (50-day EMA). Until then, consolidation may continue, with the immediate critical support placed at the 200-day EMA. A decisive fall below this level could drive the index down toward 24,900, the current month’s low, according to experts.

After opening sharply lower at 25,248, the Nifty 50 shifted into rangebound action. The index attempted a recovery in the later part of the session and finally finished at 25,321, down 98 points (0.39 percent). It formed a bullish candle with minor upper and lower shadows on the daily timeframe, indicating consolidation near the crucial resistance.

According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the outcome of the Budget could open fresh moves in the market on either side. “Immediate support is placed at 25,200, and a sustainable upmove above the 25,450–25,500 levels could possibly open a sharp upside ahead,” he said.

According to the weekly options data, strong resistance for the Nifty 50 is placed at 26,000 in the short term, with an immediate hurdle at 25,500, while support is placed at 25,000.

The maximum Call open interest was placed at the 26,000 strike, followed by the 25,500 and 25,800 strikes, with the maximum Call writing seen at the 26,000, 25,300, and 25,500 strikes. Meanwhile, the 25,000 strike holds the maximum Put open interest, followed by the 25,300 and 24,900 strikes, with the maximum Put writing at the 24,900, 25,300, and 25,350 strikes.

The market will remain open on February 1, Sunday for Union Budget.

Bank Nifty

The Bank Nifty also traded within the previous day’s range and closed lower for the first time in the current week. Notably, despite this profit booking, it stayed above all key moving averages as well as the midline of the Bollinger Bands ahead of the Union Budget.

The banking index declined 347 points (0.58 percent) to 59,610 and formed a small-bodied bullish candle with a long upper shadow on the daily charts, indicating profit booking amid consolidation.

According to Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, the immediate resistance is placed in the 60,000–60,100 zone, making it a crucial supply area to watch. Any sustained move above this zone could lead the index to continue its up move toward 60,400, followed by 60,800 in the near term.

On the downside, the 20-day EMA zone of 59,400–59,300 is likely to act as strong support, he said.

Meanwhile, the fear gauge, India VIX, rose 1.96 percent to 13.63 after a two-day fall and remained above all key moving averages, maintaining caution for bulls as the market approaches the Union Budget.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Technical View: Nifty consolidates after 3-day rally, 25,500 crucial for upward journey; Bank Nifty holds all EMAs ahead of Budget

The Nifty 50 could not see follow-through buying interest on January 30 and snapped its three-day winning streak amid consolidation ahead of the Union Budget 2026, the much-awaited key economic event scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. The index remained within the previous day’s trading range throughout the session, but volume stayed strong, and the index consistently held above the 200-day EMA (25,170) for the fourth straight session.

The benchmark Nifty 50 needs to surpass and sustain above the immediate crucial hurdle of 25,450–25,500, as only above this zone could an uptrend be seen toward 25,600 (100-day EMA) and 25,700 (50-day EMA). Until then, consolidation may continue, with the immediate critical support placed at the 200-day EMA. A decisive fall below this level could drive the index down toward 24,900, the current month’s low, according to experts.

After opening sharply lower at 25,248, the Nifty 50 shifted into rangebound action. The index attempted a recovery in the later part of the session and finally finished at 25,321, down 98 points (0.39 percent). It formed a bullish candle with minor upper and lower shadows on the daily timeframe, indicating consolidation near the crucial resistance.

According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the outcome of the Budget could open fresh moves in the market on either side. “Immediate support is placed at 25,200, and a sustainable upmove above the 25,450–25,500 levels could possibly open a sharp upside ahead,” he said.

According to the weekly options data, strong resistance for the Nifty 50 is placed at 26,000 in the short term, with an immediate hurdle at 25,500, while support is placed at 25,000.

The maximum Call open interest was placed at the 26,000 strike, followed by the 25,500 and 25,800 strikes, with the maximum Call writing seen at the 26,000, 25,300, and 25,500 strikes. Meanwhile, the 25,000 strike holds the maximum Put open interest, followed by the 25,300 and 24,900 strikes, with the maximum Put writing at the 24,900, 25,300, and 25,350 strikes.

The market will remain open on February 1, Sunday for Union Budget.

Bank Nifty

The Bank Nifty also traded within the previous day’s range and closed lower for the first time in the current week. Notably, despite this profit booking, it stayed above all key moving averages as well as the midline of the Bollinger Bands ahead of the Union Budget.

The banking index declined 347 points (0.58 percent) to 59,610 and formed a small-bodied bullish candle with a long upper shadow on the daily charts, indicating profit booking amid consolidation.

According to Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, the immediate resistance is placed in the 60,000–60,100 zone, making it a crucial supply area to watch. Any sustained move above this zone could lead the index to continue its up move toward 60,400, followed by 60,800 in the near term.

On the downside, the 20-day EMA zone of 59,400–59,300 is likely to act as strong support, he said.

Meanwhile, the fear gauge, India VIX, rose 1.96 percent to 13.63 after a two-day fall and remained above all key moving averages, maintaining caution for bulls as the market approaches the Union Budget.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Nifty and Sensex fell, ending a three-day win streak before the Budget., Metal index fell 5%, while pharma, FMCG, and media sectors gained up to 1.8%, South Indian Bank shares crashed 15% as CEO decided not to seek reappointment

* Nifty and Sensex fell, ending a three-day win streak before the Budget.
* Metal index fell 5%, while pharma, FMCG, and media sectors gained up to 1.8%
* South Indian Bank shares crashed 15% as CEO decided not to seek reappointment

Dalal Street indices ended lower, snapping a three-day winning streak as Nifty fell below 25,250 intraday amid cautious sentiment before the Union Budget. Metals led sector losses, while pharma and FMCG gained. Over 280 stocks hit 52-week lows.

shorts/business/taking-stock-markets-snap-3-day-winning-streak-sensex-down-297-pts-nifty-below-25-350-ahead-of-budget

* Nifty and Sensex fell, ending a three-day win streak before the Budget.
* Metal index fell 5%, while pharma, FMCG, and media sectors gained up to 1.8%
* South Indian Bank shares crashed 15% as CEO decided not to seek reappointment

Bears returned on Dalal Street as the benchmark indices snapped a three-day winning streak, with the Nifty slipping below 25,250, intraday, amid cautious investor sentiment ahead of the Union Budget scheduled for Sunday, February 1.

Amid weak global cues, Indian benchmark indices opened lower, with the Nifty slipping below 25,300 in early trade, while extended mid-session selling dragged the index to the day’s low of 25,213.65. However, buying interest in the second half helped the Nifty recover to close above 25,300, near the day’s high.

At close, the Sensex was down 296.59 points or 0.36 percent at 82,269.78, and the Nifty was down 98.25 points or 0.39 percent at 25,320.65.

The broader indices ended mixed, with the Nifty Midcap index slipping 0.2%, while the Smallcap index gained 0.3%.

For the week, BSE Sensex and Nifty50 indices rose 1 percent each.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/gold-silver-etfs-crash-up-to-14-as-precious-metals-tumble-from-record-highs-should-you-buy-13799082.html">Gold, silver ETFs crash up to 14% as precious metals tumble from record highs: Should you buy?</a>

Hindalco, Tata Steel, Coal India, ONGC, ICICI Bank were among major losers on the Nifty, while gainers were Tata Consumer, Apollo Hospitals, Nestle, M&amp;M, ITC.

Among sectors, metal index shed 5%, oil &amp; gas, Bank, IT, Energy shed 0.5-1%, while pharma, media, consumer durables, FMCG rose 0.7-1.8%.

In stock specifics, South Indian Bank shares crashed 15% as CEO doesn’t seek reappointment, Swiggy shares price fell 4% as consolidated losses increase, Paytm shares fell 3% despite company reports profit in Q3, ACME Solar shares rose 4% after signing power purchase agreement (PPA) with NHPC, Capri Global share price shed 2.5% even as Q3 profit jumps 99.5%, NTPC Green Energy share price declined 6.5% after profit slips 73%. Meanwhile, Genesys International Corporation jumped 5% on winning an urban digital twin mapping platform project, and Ajanta Pharma rose 3% on better-than-expected Q3 results.

Also Read - <a href="https://www.moneycontrol.com/news/business/earnings/select-psu-stock-rally-lifts-sector-s-market-share-to-17-month-high-13798606.html">Select PSU stock rally lifts sector’s market share to 17-month high</a>

More than 280 stocks touched their 52-week lows, including Rainbow Children, Aditya Birla Real, Concord Biotech, LT Technology, Colgate, CG Consumer, Akzo Nobel, ACC, Syngene International, Emami, Blue Jet, Berger Paints, Newgen Software, ITC, Brigade Enterprises, Whirlpool, KPIT Technologies, Poly Medicure, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-low-bse/?indexName=BSE%2520500&amp;id=12">Click to View More</a>

Outlook for February 1

Shrikant Chouhan, Head Equity Research, Kotak Securities

The Indian market posted weekly gains, led by recovery across market cap. The BSE midcap and the small cap indices outperformed the larger peers. BSE Metals (commodity rally), capital goods (budget expectation) and Oil &amp; Gas (rise in oil price) were the major gainers in this week, whereas BSE Auto index (reacted to India EU FTA) witnessed correction.

The INR (vs USD) that has been weakening in recent weeks, hit fresh record lows this week. Oil prices have been climbing sharply in this week — with Brent crude and WTI hitting multi-month highs on rising geopolitical risk. From India’s perspective, sharp increase in oil prices can fuel inflation, put pressure on currency and widen the current account deficit.

The Indian market witnessed a decent Q3FY26 earnings season, with aggregate earnings marginally ahead of expectations until now. FII continues to sell Indian equities with net selling in cash market in Jan 2026 (till date) crossing Rs 40,000 crore.

Global equity markets priced in weakening of the Dollar index, the US Fed keeping policy rates unchanged, increased geopolitical tensions, and a sharp increase in gold and silver prices. In the coming week, Union Budget, commodity price movement, geo-political developments, currency movements, Q3FY26 results &amp; management commentary and FII activity will influence the Indian equity market.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Nifty opened on a weak note and spent most of the session in a narrow, sideways range. The index found strong intraday support twice in the 25220–25210 zone and staged a smart recovery towards the last hour. However, it closed the day at 25,321, down 0.39% for the day. After bouncing off its 200-day EMA in the previous session, Nifty failed to see meaningful follow-through and ended the day trading inside the prior day’s range.

Going ahead, the immediate resistance for Nifty is placed in the 25,450–25,500 zone, with the Index failing to decisively close above this zone after attempting twice in the last six sessions. A decisive breakout above this zone could result in Nifty extending its pullback towards 25,650, followed by 25,800 in the near term. On the downside, the 200-day EMA zone of 25,200–25,150 zone is likely to act as a strong support.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Taking Stock: Markets snap 3-day winning streak; Sensex down 297 pts, Nifty below 25,350 ahead of Budget

Bears returned on Dalal Street as the benchmark indices snapped a three-day winning streak, with the Nifty slipping below 25,250, intraday, amid cautious investor sentiment ahead of the Union Budget scheduled for Sunday, February 1.

Amid weak global cues, Indian benchmark indices opened lower, with the Nifty slipping below 25,300 in early trade, while extended mid-session selling dragged the index to the day’s low of 25,213.65. However, buying interest in the second half helped the Nifty recover to close above 25,300, near the day’s high.

At close, the Sensex was down 296.59 points or 0.36 percent at 82,269.78, and the Nifty was down 98.25 points or 0.39 percent at 25,320.65.

The broader indices ended mixed, with the Nifty Midcap index slipping 0.2%, while the Smallcap index gained 0.3%.

For the week, BSE Sensex and Nifty50 indices rose 1 percent each.

Also Read: Gold, silver ETFs crash up to 14% as precious metals tumble from record highs: Should you buy?

Hindalco, Tata Steel, Coal India, ONGC, ICICI Bank were among major losers on the Nifty, while gainers were Tata Consumer, Apollo Hospitals, Nestle, M&amp;amp;M, ITC.

Among sectors, metal index shed 5%, oil &amp;amp; gas, Bank, IT, Energy shed 0.5-1%, while pharma, media, consumer durables, FMCG rose 0.7-1.8%.

In stock specifics, South Indian Bank shares crashed 15% as CEO doesn’t seek reappointment, Swiggy shares price fell 4% as consolidated losses increase, Paytm shares fell 3% despite company reports profit in Q3, ACME Solar shares rose 4% after signing power purchase agreement (PPA) with NHPC, Capri Global share price shed 2.5% even as Q3 profit jumps 99.5%, NTPC Green Energy share price declined 6.5% after profit slips 73%. Meanwhile, Genesys International Corporation jumped 5% on winning an urban digital twin mapping platform project, and Ajanta Pharma rose 3% on better-than-expected Q3 results.

Also Read - Select PSU stock rally lifts sector’s market share to 17-month high

More than 280 stocks touched their 52-week lows, including Rainbow Children, Aditya Birla Real, Concord Biotech, LT Technology, Colgate, CG Consumer, Akzo Nobel, ACC, Syngene International, Emami, Blue Jet, Berger Paints, Newgen Software, ITC, Brigade Enterprises, Whirlpool, KPIT Technologies, Poly Medicure, among others. Click to View More

Outlook for February 1

Shrikant Chouhan, Head Equity Research, Kotak Securities

The Indian market posted weekly gains, led by recovery across market cap. The BSE midcap and the small cap indices outperformed the larger peers. BSE Metals (commodity rally), capital goods (budget expectation) and Oil &amp;amp; Gas (rise in oil price) were the major gainers in this week, whereas BSE Auto index (reacted to India EU FTA) witnessed correction.

The INR (vs USD) that has been weakening in recent weeks, hit fresh record lows this week. Oil prices have been climbing sharply in this week — with Brent crude and WTI hitting multi-month highs on rising geopolitical risk. From India’s perspective, sharp increase in oil prices can fuel inflation, put pressure on currency and widen the current account deficit.

The Indian market witnessed a decent Q3FY26 earnings season, with aggregate earnings marginally ahead of expectations until now. FII continues to sell Indian equities with net selling in cash market in Jan 2026 (till date) crossing Rs 40,000 crore.

Global equity markets priced in weakening of the Dollar index, the US Fed keeping policy rates unchanged, increased geopolitical tensions, and a sharp increase in gold and silver prices. In the coming week, Union Budget, commodity price movement, geo-political developments, currency movements, Q3FY26 results &amp;amp; management commentary and FII activity will influence the Indian equity market.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Nifty opened on a weak note and spent most of the session in a narrow, sideways range. The index found strong intraday support twice in the 25220–25210 zone and staged a smart recovery towards the last hour. However, it closed the day at 25,321, down 0.39% for the day. After bouncing off its 200-day EMA in the previous session, Nifty failed to see meaningful follow-through and ended the day trading inside the prior day’s range.

Going ahead, the immediate resistance for Nifty is placed in the 25,450–25,500 zone, with the Index failing to decisively close above this zone after attempting twice in the last six sessions. A decisive breakout above this zone could result in Nifty extending its pullback towards 25,650, followed by 25,800 in the near term. On the downside, the 200-day EMA zone of 25,200–25,150 zone is likely to act as a strong support.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Live: Nifty recovers 100 pts from day's low, metals under pressure | Closing Bell

Sensex and Nifty drop sharply after three-day rally, led by IT and metal stocks., Market sentiment hit by FII selling, rising crude prices, and weak global cues., Caution ahead of Union Budget; India VIX rises, signaling increased volatility.

* Sensex and Nifty drop sharply after three-day rally, led by IT and metal stocks.
* Market sentiment hit by FII selling, rising crude prices, and weak global cues.
* Caution ahead of Union Budget; India VIX rises, signaling increased volatility.

Sensex and Nifty fell sharply after a three-day rally, hit by profit booking in metal and IT stocks, renewed FII selling, rising crude prices, weak global cues, caution ahead of the Union Budget, and increased market volatility.

shorts/business/sensex-falls-350-pts-nifty-below-25-350-weak-global-cues-among-key-factors-behind-market-decline

* Sensex and Nifty drop sharply after three-day rally, led by IT and metal stocks.
* Market sentiment hit by FII selling, rising crude prices, and weak global cues.
* Caution ahead of Union Budget; India VIX rises, signaling increased volatility.

The benchmark equity indices Sensex and Nifty fell sharply on Friday after a three-day rally, weighed down by selling in IT and metal stocks, weak global cues and caution ahead of the Union Budget to be presented on February 1.

Fresh foreign fund outflows and subdued trends in overseas markets further dented investor sentiment.

The Sensex settled 296.59 points or 0.36 percent lower at 82,269.78, while the broader Nifty declined to 25,320.65, down 98.25 points or 0.39 percent.

<a href="https://www.moneycontrol.com/india/stockpricequote/ironsteel/hindalcoindustries/HI">Hindalco Industries</a>, Tata Steel and Coal India were among the major laggards in the Nifty50 pack, declining up to 6 percent, while <a href="https://www.moneycontrol.com/india/stockpricequote/hospitalsmedical-services/apollohospitalsenterprises/AHE">Apollo Hospitals Enterprise</a> and Tata Consumer Products were among the top gainers, risnig up to 2 percent.
<h3>Key factors behind market decline</h3>
1) Profit booking in metal shares: Metal shares were among the biggest laggards, with the Nifty Metal index declining up to 4 percent, retreating from the gains of the past three sessions. The sector had risen sharply earlier on higher base metal prices amid geopolitical concerns.

Tim Waterer, Chief Market Analyst at KCM Trade, said a potentially less dovish Federal Reserve chair, a rebound in the dollar and overbought conditions had contributed to the decline in metal prices.

2) Renewed FII selling: Investor sentiment was also hit by renewed selling by foreign institutional investors (FIIs) after a brief pause on Wednesday. FIIs have remained net sellers for most of January so far, turning net buyers in only two sessions during the month.
<h3><a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-suggests-a-weak-start-us-markets-mixed-asia-gains-liveblog-13798597.html" target="_blank">Stock Market LIVE Updates</a></h3>
3) Rise in crude prices: Crude oil prices added to the pressure, rising to a five-month high on Thursday amid concerns over possible supply disruptions if the US attacks Iran, a major OPEC producer. Higher oil prices are a negative for India, which is a net importer of crude.

"The spike in Brent crude to near USD 70 is a headwind for Indian macros in general and for industries that use oil as an input," said VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.

4) Caution ahead of union budget: Markets also remained cautious ahead of the Union Budget, which Finance Minister Nirmala Sitharaman is scheduled to present in Parliament on Sunday. The stock markets will operate in a special trading session on Budget day.

"As we near Budget day, there are both headwinds and tailwinds for the market. Geopolitical issues continue to plague global trade, with persistent threats of tariff weaponisation," Vijayakumar said.

5) Weak global cues: In Asian markets, Japan’s Nikkei 225, China’s Shanghai Composite and Hong Kong’s Hang Seng were quoting lower. US markets ended mostly in the red on Thursday.

6) Rise in India Vix: The India VIX, which measures market volatility and reflects investor fear, rose nearly 4 percent to 13.85, indicating increased uncertainty in the near term.

7) Sellingin IT shares: IT stocks also came under pressure, with the sector declining up to 2 percent, tracking a sharp overnight sell-off in the Nasdaq.

8) Fears of Hawkish Fed chair: Gold prices slid more than 4 percent amid speculation that the US Federal Reserve could get a more hawkish chair. US President Donald Trump said he would announce his pick to replace Fed Chair Jerome Powell on Friday. A more hawkish stance by the Fed typically strengthens the dollar and tightens global liquidity, which can weigh on emerging markets like India.

"Rumours that Kevin Warsh will replace Jerome Powell as Fed chair have weighed on gold during Asian trade," said Matt Simpson, Senior Analyst at StoneX.
<h3>Technical outlook </h3>
Anand James, Chief Market Strategist at Geojit Investments, said the 25,180 level had earlier provided support, allowing the market to rebound.

"However, the consolidation seen after moving past 25,400 warrants caution. Inability to sustain above the 25,390–25,360 region could weaken the upside momentum, at least for today," he said.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Markets snap 3-day rally ahead of Budget: Sensex settles 300 pts lower, Nifty ends below 25,350; key factors behind decline

Sensex news today: Markets snap 3-day rally ahead of Budget: Sensex settles 300 pts lower, Nifty ends below 25,350; key factors behind decline

The benchmark equity indices Sensex and Nifty fell sharply on Friday after a three-day rally, weighed down by selling in IT and metal stocks, weak global cues and caution ahead of the Union Budget to be presented on February 1.

Fresh foreign fund outflows and subdued trends in overseas markets further dented investor sentiment.

The Sensex settled 296.59 points or 0.36 percent lower at 82,269.78, while the broader Nifty declined to 25,320.65, down 98.25 points or 0.39 percent.

Hindalco Industries, Tata Steel and Coal India were among the major laggards in the Nifty50 pack, declining up to 6 percent, while Apollo Hospitals Enterprise and Tata Consumer Products were among the top gainers, risnig up to 2 percent.
Key factors behind market decline
1) Profit booking in metal shares: Metal shares were among the biggest laggards, with the Nifty Metal index declining up to 4 percent, retreating from the gains of the past three sessions. The sector had risen sharply earlier on higher base metal prices amid geopolitical concerns.

Tim Waterer, Chief Market Analyst at KCM Trade, said a potentially less dovish Federal Reserve chair, a rebound in the dollar and overbought conditions had contributed to the decline in metal prices.

2) Renewed FII selling: Investor sentiment was also hit by renewed selling by foreign institutional investors (FIIs) after a brief pause on Wednesday. FIIs have remained net sellers for most of January so far, turning net buyers in only two sessions during the month.
Stock Market LIVE Updates
3) Rise in crude prices: Crude oil prices added to the pressure, rising to a five-month high on Thursday amid concerns over possible supply disruptions if the US attacks Iran, a major OPEC producer. Higher oil prices are a negative for India, which is a net importer of crude.

&quot;The spike in Brent crude to near USD 70 is a headwind for Indian macros in general and for industries that use oil as an input,&quot; said VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited.

4) Caution ahead of union budget: Markets also remained cautious ahead of the Union Budget, which Finance Minister Nirmala Sitharaman is scheduled to present in Parliament on Sunday. The stock markets will operate in a special trading session on Budget day.

&quot;As we near Budget day, there are both headwinds and tailwinds for the market. Geopolitical issues continue to plague global trade, with persistent threats of tariff weaponisation,&quot; Vijayakumar said.

5) Weak global cues: In Asian markets, Japan’s Nikkei 225, China’s Shanghai Composite and Hong Kong’s Hang Seng were quoting lower. US markets ended mostly in the red on Thursday.

6) Rise in India Vix: The India VIX, which measures market volatility and reflects investor fear, rose nearly 4 percent to 13.85, indicating increased uncertainty in the near term.

7) Sellingin IT shares: IT stocks also came under pressure, with the sector declining up to 2 percent, tracking a sharp overnight sell-off in the Nasdaq.

8) Fears of Hawkish Fed chair: Gold prices slid more than 4 percent amid speculation that the US Federal Reserve could get a more hawkish chair. US President Donald Trump said he would announce his pick to replace Fed Chair Jerome Powell on Friday. A more hawkish stance by the Fed typically strengthens the dollar and tightens global liquidity, which can weigh on emerging markets like India.

&quot;Rumours that Kevin Warsh will replace Jerome Powell as Fed chair have weighed on gold during Asian trade,&quot; said Matt Simpson, Senior Analyst at StoneX.
Technical outlook 
Anand James, Chief Market Strategist at Geojit Investments, said the 25,180 level had earlier provided support, allowing the market to rebound.

&quot;However, the consolidation seen after moving past 25,400 warrants caution. Inability to sustain above the 25,390–25,360 region could weaken the upside momentum, at least for today,&quot; he said.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Live: Will Nifty take a breather after 3-day rally amid mixed global cues | Opening Bell

2 out of 5 years NIFTY TOTAL MKT has given negative returns in January.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	13,007.87	13,056.13	13,139.37	12,924.63	12,876.37	12,793.13	12,744.87
Fibonacci	12,974.87	13,005.90	13,056.13	12,924.63	12,874.40	12,843.37	12,793.13
Camarilla	12,971.65	12,983.71	12,995.76	12,924.63	12,947.55	12,935.49	12,923.44

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