NIFTY MIDCAP 150

A potential India-US trade deal in 2026 could be a healthy sign to enhance market access, strengthen supply chain benefitting the sectors specially electronics, automobiles, and pharmaceuticals, Mohit Bhatia said.

shorts/business/daily-voice-this-ceo-sees-portfolio-opportunities-in-financial-services-automobiles-and-healthcare-for-2026

According to Mohit Bhatia, the CEO at Bank of India Mutual Fund, financial services, automobiles, and healthcare sectors look relatively a potential opportunity for 2026 portfolio.

"Financial services sector expects the credit expansion and interest rate cycles could support growth," he said, adding automobiles sector sentiment is turning increasingly positive, supported by expectations of lower interest rates, higher disposable income from tax savings, and upcoming 8th pay Commission, and the recent GST Cut.

As far as the Union Budget expectations are concerned, the market expects policy support to continue, with measures to boost economy and earnings growth, capex primarily from government side which could be focused towards infrastructure spending, he said in an interview to Moneycontrol.

Do you strongly believe that the worst is over for the equity market, and that both the benchmark indices and the broader markets are set to deliver double-digit gains in 2026?

Looking back, we realise that some of the key pressure points are easing. Some of the key growth enablers like increased capacity, capex revival, and GST rate improvements are definitely helping along with consumer-led demand that is giving the market a breather. Government and private investments are kicking in, supporting growth along with GST rate rationalization and compliance ease helping the businesses.

Moving ahead, high-frequency indicators continue to suggest resilient demand, which should support earnings momentum across sectors. The macroeconomic setup of India is expected to aid the stabilisation of the INR following its recent depreciation, largely driven by a temporary demand-supply mismatch for USD in the onshore market.

Global factors, however, remain critical. Any delay in the signing of the USA free trade deal, or the emergence of broader geopolitical challenges, could weigh on investor sentiment and market performance. Additionally, volatility in crude oil prices and global interest rate trajectories will need close monitoring, as they directly impact inflation expectations and liquidity conditions.

What are the three key factors likely to impact equity markets in 2026?

Sustainability of Earnings Growth: Corporate earnings are expected to improve, driven by higher government spending, stable GST collections, and personal income tax relief.

US-India Trade Deal: A resolution on trade issues could attract foreign investors and support exports.

GoI Capex: Focus on infrastructure and private sector investment could drive growth.

Is large-scale FPI inflow likely to occur only after the US trade deal in 2026?

While a US trade deal could boost investor confidence, it's uncertain if large-scale FPI inflow will occur only after the deal. A potential India-US trade deal in 2026 could be a healthy sign to enhance market access, strengthen supply chain benefitting the sectors specially electronics, automobiles, and pharmaceuticals.

Do you think India is a very lucrative market for NBFCs?

India's growing economy and increasing financial inclusion make it an attractive market for NBFCs, but specific opportunities and challenges depend on various factors. India's credit penetration is indeed low, especially compared to other emerging markets. With a huge population and growing middle class, there's massive potential for credit growth. From the overall segment opportunity, diversified NBFCs including HFCs continued to witness steady loan growth led by underlying demand from retail segment.

Do you expect more measures from the government in the Union Budget 2026 to boost economy and earnings growth?

The year 2025 started with significant tax relief, raising the limit to Rs 12 lakh with recalibrating the slab rates in the new regime. Also, the mid-year review on GST rates boosted the sentiments and much needed support to the consumption led demand and announcement of FDI of 100% in the Insurance sector.

The market expects policy support to continue, with measures to boost economy and earnings growth, capex primarily from government side which could be focused towards infrastructure spending. Measures around reducing import dependence, possibly via higher customs duties and targeted incentives for local manufacturing could help strengthen the domestic ecosystem.

Do you foresee a continuation of the RBI’s rate-cut cycle in 2026, or will the central bank opt for a prolonged pause?

The Reserve Bank of India closed out 2025 with a policy statement that is both strategically calibrated and firmly anchored in macroeconomic realities. Against the backdrop of historic disinflation and resilient economic momentum, the Monetary Policy Committee (MPC) delivered a 25bps rate cut, lowering the repo rate to 5.25%, while maintaining its neutral stance.

The RBI’s soft-but-measured tone creates an environment in which fixed-income remains a compelling tactical allocation even as equities benefit from strong macro undercurrents. With one more rate cut still on the table—and liquidity guidance turning explicitly supportive—the fixed income outlook enters 2026 on exceptionally firm footing. The RBI may continue its rate-cut cycle in 2026, depending on inflation trends and economic growth.

What is your contrarian investment bet for 2026?

Indian IT sector has remained muted relative to global peers in the year 2025 in view of the apparent lag on AI related initiatives &amp; earnings guidance.

Given the strong talent pool, healthy balance sheet, global client reach coupled with structural digital initiatives from the Government of India, the Indian industry / sector may see potential winners in the medium to long term.

Which three sectors are on your radar for building a 2026 portfolio?

Overall, while near-term uncertainties persist, the medium-term outlook remains supportive, underpinned by domestic demand resilience, currency stabilisation, and robust earnings growth. A balanced approach favouring small-caps for growth potential while maintaining exposure to large-caps for stability could help investors navigate this evolving landscape. From the sectoral exposure perspective, some of the sectors which looks relatively a potential opportunity:

Financial Services: Financial Services as a sector has shown improvement in earnings and also with around 5 industries which this sector encompasses have shown relatively better resilience with high growth businesses viz. capital markets, fintech and general insurance with a mature business mix of Bank as well as Life Insurance companies. The sector expects the credit expansion and interest rate cycles could support growth.

Automobiles: Automobile companies reported a good set of numbers in Q2FY26, supported by the GST cut, strong festive demand, continued premiumization, and healthy growth in exports. Premiumization trend continued in Q2FY26, driving both volume growth and better realization across segments. Overall sector sentiment is turning increasingly positive, supported by expectations of lower interest rates, higher disposable income from tax savings, and upcoming 8th pay Commission, and the recent GST Cut.

Healthcare: This sector showcases stable demand and improving economic activity could benefit the sector. Within the sector, Domestic business is expected to maintain high single digit to double digit growth momentum with US generic launch pipeline remains thin. Hospital sector growth is likely to mirror bed capacity addition and price increase going forward.

How do you assess the outlook for banking and financial services funds in light of recent economic indicators and regulatory changes?

We are at a very different point in the financial cycle. Indian bank balance sheets are the cleanest in decades—NPAs are at cycle lows, capital adequacy is strong, and ROEs are structurally higher. This creates operating leverage as credit growth sustains in the low-to-mid teens. Also, the valuations are comfortable from entry point of view. Despite strong fundamentals, BFSI is trading at a discount to the broader market on P/B, especially banks.

We believe, this combination of earnings visibility plus reasonable valuations is rare. Finally, structural financialisation is a long runway theme—MF AUM, insurance penetration, demat accounts and digital payments are all compounding faster than GDP.

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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Daily Voice: This CEO sees portfolio opportunities in financial services, automobiles, and healthcare for 2026

According to Mohit Bhatia, the CEO at Bank of India Mutual Fund, financial services, automobiles, and healthcare sectors look relatively a potential opportunity for 2026 portfolio.

&quot;Financial services sector expects the credit expansion and interest rate cycles could support growth,&quot; he said, adding automobiles sector sentiment is turning increasingly positive, supported by expectations of lower interest rates, higher disposable income from tax savings, and upcoming 8th pay Commission, and the recent GST Cut.

As far as the Union Budget expectations are concerned, the market expects policy support to continue, with measures to boost economy and earnings growth, capex primarily from government side which could be focused towards infrastructure spending, he said in an interview to Moneycontrol.

Do you strongly believe that the worst is over for the equity market, and that both the benchmark indices and the broader markets are set to deliver double-digit gains in 2026?

Looking back, we realise that some of the key pressure points are easing. Some of the key growth enablers like increased capacity, capex revival, and GST rate improvements are definitely helping along with consumer-led demand that is giving the market a breather. Government and private investments are kicking in, supporting growth along with GST rate rationalization and compliance ease helping the businesses.

Moving ahead, high-frequency indicators continue to suggest resilient demand, which should support earnings momentum across sectors. The macroeconomic setup of India is expected to aid the stabilisation of the INR following its recent depreciation, largely driven by a temporary demand-supply mismatch for USD in the onshore market.

Global factors, however, remain critical. Any delay in the signing of the USA free trade deal, or the emergence of broader geopolitical challenges, could weigh on investor sentiment and market performance. Additionally, volatility in crude oil prices and global interest rate trajectories will need close monitoring, as they directly impact inflation expectations and liquidity conditions.

What are the three key factors likely to impact equity markets in 2026?

Sustainability of Earnings Growth: Corporate earnings are expected to improve, driven by higher government spending, stable GST collections, and personal income tax relief.

US-India Trade Deal: A resolution on trade issues could attract foreign investors and support exports.

GoI Capex: Focus on infrastructure and private sector investment could drive growth.

Is large-scale FPI inflow likely to occur only after the US trade deal in 2026?

While a US trade deal could boost investor confidence, it's uncertain if large-scale FPI inflow will occur only after the deal. A potential India-US trade deal in 2026 could be a healthy sign to enhance market access, strengthen supply chain benefitting the sectors specially electronics, automobiles, and pharmaceuticals.

Do you think India is a very lucrative market for NBFCs?

India's growing economy and increasing financial inclusion make it an attractive market for NBFCs, but specific opportunities and challenges depend on various factors. India's credit penetration is indeed low, especially compared to other emerging markets. With a huge population and growing middle class, there's massive potential for credit growth. From the overall segment opportunity, diversified NBFCs including HFCs continued to witness steady loan growth led by underlying demand from retail segment.

Do you expect more measures from the government in the Union Budget 2026 to boost economy and earnings growth?

The year 2025 started with significant tax relief, raising the limit to Rs 12 lakh with recalibrating the slab rates in the new regime. Also, the mid-year review on GST rates boosted the sentiments and much needed support to the consumption led demand and announcement of FDI of 100% in the Insurance sector.

The market expects policy support to continue, with measures to boost economy and earnings growth, capex primarily from government side which could be focused towards infrastructure spending. Measures around reducing import dependence, possibly via higher customs duties and targeted incentives for local manufacturing could help strengthen the domestic ecosystem.

Do you foresee a continuation of the RBI’s rate-cut cycle in 2026, or will the central bank opt for a prolonged pause?

The Reserve Bank of India closed out 2025 with a policy statement that is both strategically calibrated and firmly anchored in macroeconomic realities. Against the backdrop of historic disinflation and resilient economic momentum, the Monetary Policy Committee (MPC) delivered a 25bps rate cut, lowering the repo rate to 5.25%, while maintaining its neutral stance.

The RBI’s soft-but-measured tone creates an environment in which fixed-income remains a compelling tactical allocation even as equities benefit from strong macro undercurrents. With one more rate cut still on the table—and liquidity guidance turning explicitly supportive—the fixed income outlook enters 2026 on exceptionally firm footing. The RBI may continue its rate-cut cycle in 2026, depending on inflation trends and economic growth.

What is your contrarian investment bet for 2026?

Indian IT sector has remained muted relative to global peers in the year 2025 in view of the apparent lag on AI related initiatives &amp;amp; earnings guidance.

Given the strong talent pool, healthy balance sheet, global client reach coupled with structural digital initiatives from the Government of India, the Indian industry / sector may see potential winners in the medium to long term.

Which three sectors are on your radar for building a 2026 portfolio?

Overall, while near-term uncertainties persist, the medium-term outlook remains supportive, underpinned by domestic demand resilience, currency stabilisation, and robust earnings growth. A balanced approach favouring small-caps for growth potential while maintaining exposure to large-caps for stability could help investors navigate this evolving landscape. From the sectoral exposure perspective, some of the sectors which looks relatively a potential opportunity:

Financial Services: Financial Services as a sector has shown improvement in earnings and also with around 5 industries which this sector encompasses have shown relatively better resilience with high growth businesses viz. capital markets, fintech and general insurance with a mature business mix of Bank as well as Life Insurance companies. The sector expects the credit expansion and interest rate cycles could support growth.

Automobiles: Automobile companies reported a good set of numbers in Q2FY26, supported by the GST cut, strong festive demand, continued premiumization, and healthy growth in exports. Premiumization trend continued in Q2FY26, driving both volume growth and better realization across segments. Overall sector sentiment is turning increasingly positive, supported by expectations of lower interest rates, higher disposable income from tax savings, and upcoming 8th pay Commission, and the recent GST Cut.

Healthcare: This sector showcases stable demand and improving economic activity could benefit the sector. Within the sector, Domestic business is expected to maintain high single digit to double digit growth momentum with US generic launch pipeline remains thin. Hospital sector growth is likely to mirror bed capacity addition and price increase going forward.

How do you assess the outlook for banking and financial services funds in light of recent economic indicators and regulatory changes?

We are at a very different point in the financial cycle. Indian bank balance sheets are the cleanest in decades—NPAs are at cycle lows, capital adequacy is strong, and ROEs are structurally higher. This creates operating leverage as credit growth sustains in the low-to-mid teens. Also, the valuations are comfortable from entry point of view. Despite strong fundamentals, BFSI is trading at a discount to the broader market on P/B, especially banks.

We believe, this combination of earnings visibility plus reasonable valuations is rare. Finally, structural financialisation is a long runway theme—MF AUM, insurance penetration, demat accounts and digital payments are all compounding faster than GDP.

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.

Momentum suggests that the Bank Nifty is also likely to inch higher toward the 60,000–60,100 levels once it decisively clears 59,800 hurdle, while 59,200–59,000 is expected to be the immediate support.

shorts/business/trading-plan-will-nifty-50-bank-nifty-maintain-upward-journey-amid-consolidation

The momentum and technical indicators remain supportive for bulls; hence, the index may gradually climb toward the 26,350–26,400 levels, but only after it convincingly surpasses and holds the 26,200 zone (which coincides with the falling resistance trendline). Until then, consolidation may continue with support at the 26,050–26,000 levels. Meanwhile, momentum suggests that the Bank Nifty is also likely to inch higher toward the 60,000–60,100 levels once it decisively clears 59,800 hurdle, while 59,200–59,000 is expected to be the immediate support, experts said.

On January 1, the Nifty 50 rose 17 points to 26,147, while the Bank Nifty climbed 130 points to 59,712, with positive market breadth. A total of 1,486 shares advanced against 1,386 declining shares on the NSE.

Nifty Outlook and Strategy

Jay Mehta, Technical Research at JM Financial Services

Nifty has been range-bound within a 630-point band from 25,700 to 26,330 over the past 36 trading sessions. Buyers have defended the lower end, while sellers have aggressively dominated the upper boundary, leading to three bearish weekly candlestick patterns at the highs over the past 36 sessions: two Hanging Man and one Gravestone Doji.

For the next strong upward rally, the price must sustain above 26,330; otherwise, further consolidation is likely to continue. The key positive takeaway is that the index is trading above all key EMAs, with the 50-day EMA offering solid support.

Key Resistance: 26,225, 26,330, 26,550

Key Support: 25,930, 25,800, 25,700

Strategy: Traders can engage in range trading until 25,700 or 26,330 is decisively breached on either side. Momentum traders should await a breakout for directional plays.

Om Mehra, Technical Research Analyst at Samco Securities

The Nifty 50 formed a small-bodied candle on the daily chart, reflecting indecision at higher levels. Nifty is holding above its short-term average, which continues to act as immediate support on declines. As long as the index sustains above 26,050, the broader bias remains constructive, although a decisive breakout is still awaited.

The daily RSI is placed near 56, while the MACD has turned marginally positive, indicating stabilisation rather than strong momentum.

The PCR around 1.1 indicates balanced to mildly bullish positioning. Call open interest remains concentrated around the 26,200–26,300 strikes, indicating strong overhead resistance in this zone. On the Put side, notable open interest build-up is visible near the 26,000 strike, reflecting support and suggesting that market participants are comfortable defending this level. The maximum pain level is placed near 26,150, reinforcing the ongoing range-bound setup in the near term.

Overall, Nifty continues to trade in a range-bound consolidation phase with a slight bullish bias, as support gradually shifts higher. A sustained close above 26,200 is required to re-ignite upside momentum.

Key Resistance: 26,200, 26,250, 26,300

Key Support: 26,050, 26,000, 25,950

Strategy: Bull Call Spread for the January 6 expiry by buying one lot of 26,000 CE at Rs 192.20 and selling one lot of 26,300 CE at Rs 25.25. This setup is designed to benefit from a gradual upside or sustained trade above the 26,000 zone, while limiting downside risk in case Nifty remains range-bound.

Stop-Loss: Hold the strategy with a maximum MTM loss capped near Rs 5,000.

Target: Hold the strategy until expiry for a maximum profit potential of Rs 8,600, or consider booking profits if MTM gains approach Rs 5,500–6,000.

Amruta Shinde, Derivative Research Analyst at Choice Broking

Thursday's price action indicates consolidation near record highs, suggesting that while bulls remain in control, fresh triggers are required for a strong follow-through move. The index continues to hover close to the 25,900–26,100 zone, reinforcing the presence of supply at higher levels while also highlighting strong underlying demand.

Going forward, immediate resistance is placed in the 26,200–26,250 range, and a sustained move above this zone could open the door for an upside extension toward 26,400–26,600 in the near term. On the downside, immediate support is seen at 26,000, followed by 25,900, which is expected to act as a strong demand zone. As long as the index holds above 25,900–26,000, the broader trend remains positive, and a “buy-on-dips” strategy continues to be advisable.

Key Resistance: 26,400, 26,600

Key Support: 26,100, 25,900

Strategy: Buy Nifty futures on dips near the 26,200 levels for a target of 26,450–26,600 levels, with a stop-loss of 26,050 on a closing basis.

Bank Nifty - Outlook and Positioning

Jay Mehta, Technical Research at JM Financial Services

Bank Nifty is trading in a 58,600–59,900 range but demonstrates superior relative strength compared to Nifty. Recent sessions have seen strong volume participation, enhancing the bullish setup. Price has built a firm base around the 20-day EMA and remains above all key EMAs.

RSI has repeatedly found support at 50 during consolidation and now trades at 62. The short-term structure favours a high probability of retesting all-time highs or higher in the coming sessions, provided 59,100 holds. On the 75-minute chart, it is forming a pennant pattern.

Key Resistance: 60,110, 60,300, 60,550

Key Support: 59,500, 59,250, 59,100

Strategy: Buy Bank Nifty futures with a stop-loss at 59,100, targeting 60,110, 60,300, and 60,550.

Om Mehra, Technical Research Analyst at Samco Securities

The daily chart continues to reflect a bullish continuation after a minor pullback from its all-time high of 60,114.30. The recent pullback suggests consolidation within an upward bias rather than any signs of trend exhaustion in Bank Nifty.

On the daily timeframe, the index is holding comfortably above all key moving averages. The 10 EMA and 20 EMA continue to act as reliable medium-term support. On the hourly chart, the index traded steadily, with no significant signs of distribution.

The daily RSI has moved back above 60, signalling strengthening momentum, while the MACD has registered a bullish crossover, confirming the continuation of the prevailing uptrend.

The PCR is placed near 1.16, indicating a bullish positioning bias. Put open interest is concentrated around the 59,500 strike, highlighting a strong support base, while Call open interest is visible near the 60,000 level, marking it as an immediate resistance zone. The maximum pain level is placed near 59,500.

Bank Nifty continues to trade firmly, with the trend remaining bullish. Pullbacks toward support zones are likely to attract accumulation interest, while a sustained move above 59,850 could open the path toward the 60,000 mark.

Key Resistance: 59,850, 60,000, 60,150

Key Support: 59,500, 59,450, 59,400

Strategy: Traders can apply a Bull Call Spread strategy for the January 27 expiry by buying one lot of 59,500 CE at Rs 863 and selling one lot of 60,100 CE at Rs 525.90. This strategy is positioned to benefit from a continued upward trend.

Stop-Loss: Maintain the strategy with a maximum MTM loss capped near Rs 5,000.

Target: Hold the strategy until expiry for a maximum profit potential of Rs 7,800, or consider booking profits if MTM gains approach Rs 5,500–6,000.

Amruta Shinde, Derivative Research Analyst at Choice Broking

On the daily chart, Bank Nifty formed a small-bodied candle near the highs, highlighting healthy consolidation after the recent rally. This price structure suggests that the prevailing uptrend remains intact, with bulls maintaining control despite the absence of strong momentum buying. The index continues to trade comfortably above its short-term moving averages, reinforcing a positive near-term technical structure.

On the 1-hour timeframe, Bank Nifty displayed a sideways-to-mild bullish structure, with higher lows intact and intraday declines being swiftly absorbed. This behaviour points toward ongoing accumulation and indicates that market participants are positioning for a potential continuation move rather than exiting long positions.

Going forward, immediate resistance is placed in the 60,000–60,200 zone, and a sustained breakout above this range could open the door for an upside move toward 60,350 and higher in the near term. On the downside, key support is seen in the 59,300–59,500 zone, followed by a stronger base near 59,000, which is expected to act as a major demand area. As long as the index holds above 59,000, the broader trend remains bullish, and a “buy-on-dips” strategy continues to be advisable.

Key Resistance: 60,000, 60,300

Key Support: 59,300, 59,500

Strategy: Buy Bank Nifty futures on dips near the 59,700 levels for a target of 60,000–60,350 levels, with a stop-loss of 59,400 on a closing basis.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Trading Plan: Will Nifty 50, Bank Nifty maintain upward journey amid consolidation?

The momentum and technical indicators remain supportive for bulls; hence, the index may gradually climb toward the 26,350–26,400 levels, but only after it convincingly surpasses and holds the 26,200 zone (which coincides with the falling resistance trendline). Until then, consolidation may continue with support at the 26,050–26,000 levels. Meanwhile, momentum suggests that the Bank Nifty is also likely to inch higher toward the 60,000–60,100 levels once it decisively clears 59,800 hurdle, while 59,200–59,000 is expected to be the immediate support, experts said.

On January 1, the Nifty 50 rose 17 points to 26,147, while the Bank Nifty climbed 130 points to 59,712, with positive market breadth. A total of 1,486 shares advanced against 1,386 declining shares on the NSE.

Nifty Outlook and Strategy

Jay Mehta, Technical Research at JM Financial Services

Nifty has been range-bound within a 630-point band from 25,700 to 26,330 over the past 36 trading sessions. Buyers have defended the lower end, while sellers have aggressively dominated the upper boundary, leading to three bearish weekly candlestick patterns at the highs over the past 36 sessions: two Hanging Man and one Gravestone Doji.

For the next strong upward rally, the price must sustain above 26,330; otherwise, further consolidation is likely to continue. The key positive takeaway is that the index is trading above all key EMAs, with the 50-day EMA offering solid support.

Key Resistance: 26,225, 26,330, 26,550

Key Support: 25,930, 25,800, 25,700

Strategy: Traders can engage in range trading until 25,700 or 26,330 is decisively breached on either side. Momentum traders should await a breakout for directional plays.

Om Mehra, Technical Research Analyst at Samco Securities

The Nifty 50 formed a small-bodied candle on the daily chart, reflecting indecision at higher levels. Nifty is holding above its short-term average, which continues to act as immediate support on declines. As long as the index sustains above 26,050, the broader bias remains constructive, although a decisive breakout is still awaited.

The daily RSI is placed near 56, while the MACD has turned marginally positive, indicating stabilisation rather than strong momentum.

The PCR around 1.1 indicates balanced to mildly bullish positioning. Call open interest remains concentrated around the 26,200–26,300 strikes, indicating strong overhead resistance in this zone. On the Put side, notable open interest build-up is visible near the 26,000 strike, reflecting support and suggesting that market participants are comfortable defending this level. The maximum pain level is placed near 26,150, reinforcing the ongoing range-bound setup in the near term.

Overall, Nifty continues to trade in a range-bound consolidation phase with a slight bullish bias, as support gradually shifts higher. A sustained close above 26,200 is required to re-ignite upside momentum.

Key Resistance: 26,200, 26,250, 26,300

Key Support: 26,050, 26,000, 25,950

Strategy: Bull Call Spread for the January 6 expiry by buying one lot of 26,000 CE at Rs 192.20 and selling one lot of 26,300 CE at Rs 25.25. This setup is designed to benefit from a gradual upside or sustained trade above the 26,000 zone, while limiting downside risk in case Nifty remains range-bound.

Stop-Loss: Hold the strategy with a maximum MTM loss capped near Rs 5,000.

Target: Hold the strategy until expiry for a maximum profit potential of Rs 8,600, or consider booking profits if MTM gains approach Rs 5,500–6,000.

Amruta Shinde, Derivative Research Analyst at Choice Broking

Thursday's price action indicates consolidation near record highs, suggesting that while bulls remain in control, fresh triggers are required for a strong follow-through move. The index continues to hover close to the 25,900–26,100 zone, reinforcing the presence of supply at higher levels while also highlighting strong underlying demand.

Going forward, immediate resistance is placed in the 26,200–26,250 range, and a sustained move above this zone could open the door for an upside extension toward 26,400–26,600 in the near term. On the downside, immediate support is seen at 26,000, followed by 25,900, which is expected to act as a strong demand zone. As long as the index holds above 25,900–26,000, the broader trend remains positive, and a “buy-on-dips” strategy continues to be advisable.

Key Resistance: 26,400, 26,600

Key Support: 26,100, 25,900

Strategy: Buy Nifty futures on dips near the 26,200 levels for a target of 26,450–26,600 levels, with a stop-loss of 26,050 on a closing basis.

Bank Nifty - Outlook and Positioning

Jay Mehta, Technical Research at JM Financial Services

Bank Nifty is trading in a 58,600–59,900 range but demonstrates superior relative strength compared to Nifty. Recent sessions have seen strong volume participation, enhancing the bullish setup. Price has built a firm base around the 20-day EMA and remains above all key EMAs.

RSI has repeatedly found support at 50 during consolidation and now trades at 62. The short-term structure favours a high probability of retesting all-time highs or higher in the coming sessions, provided 59,100 holds. On the 75-minute chart, it is forming a pennant pattern.

Key Resistance: 60,110, 60,300, 60,550

Key Support: 59,500, 59,250, 59,100

Strategy: Buy Bank Nifty futures with a stop-loss at 59,100, targeting 60,110, 60,300, and 60,550.

Om Mehra, Technical Research Analyst at Samco Securities

The daily chart continues to reflect a bullish continuation after a minor pullback from its all-time high of 60,114.30. The recent pullback suggests consolidation within an upward bias rather than any signs of trend exhaustion in Bank Nifty.

On the daily timeframe, the index is holding comfortably above all key moving averages. The 10 EMA and 20 EMA continue to act as reliable medium-term support. On the hourly chart, the index traded steadily, with no significant signs of distribution.

The daily RSI has moved back above 60, signalling strengthening momentum, while the MACD has registered a bullish crossover, confirming the continuation of the prevailing uptrend.

The PCR is placed near 1.16, indicating a bullish positioning bias. Put open interest is concentrated around the 59,500 strike, highlighting a strong support base, while Call open interest is visible near the 60,000 level, marking it as an immediate resistance zone. The maximum pain level is placed near 59,500.

Bank Nifty continues to trade firmly, with the trend remaining bullish. Pullbacks toward support zones are likely to attract accumulation interest, while a sustained move above 59,850 could open the path toward the 60,000 mark.

Key Resistance: 59,850, 60,000, 60,150

Key Support: 59,500, 59,450, 59,400

Strategy: Traders can apply a Bull Call Spread strategy for the January 27 expiry by buying one lot of 59,500 CE at Rs 863 and selling one lot of 60,100 CE at Rs 525.90. This strategy is positioned to benefit from a continued upward trend.

Stop-Loss: Maintain the strategy with a maximum MTM loss capped near Rs 5,000.

Target: Hold the strategy until expiry for a maximum profit potential of Rs 7,800, or consider booking profits if MTM gains approach Rs 5,500–6,000.

Amruta Shinde, Derivative Research Analyst at Choice Broking

On the daily chart, Bank Nifty formed a small-bodied candle near the highs, highlighting healthy consolidation after the recent rally. This price structure suggests that the prevailing uptrend remains intact, with bulls maintaining control despite the absence of strong momentum buying. The index continues to trade comfortably above its short-term moving averages, reinforcing a positive near-term technical structure.

On the 1-hour timeframe, Bank Nifty displayed a sideways-to-mild bullish structure, with higher lows intact and intraday declines being swiftly absorbed. This behaviour points toward ongoing accumulation and indicates that market participants are positioning for a potential continuation move rather than exiting long positions.

Going forward, immediate resistance is placed in the 60,000–60,200 zone, and a sustained breakout above this range could open the door for an upside move toward 60,350 and higher in the near term. On the downside, key support is seen in the 59,300–59,500 zone, followed by a stronger base near 59,000, which is expected to act as a major demand area. As long as the index holds above 59,000, the broader trend remains bullish, and a “buy-on-dips” strategy continues to be advisable.

Key Resistance: 60,000, 60,300

Key Support: 59,300, 59,500

Strategy: Buy Bank Nifty futures on dips near the 59,700 levels for a target of 60,000–60,350 levels, with a stop-loss of 59,400 on a closing basis.

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

The India VIX finished near an all-time closing low and extended its downward journey for the third consecutive session on Thursday, maintaining a comfort zone for the bulls.

shorts/business/trade-setup-for-january-2-top-15-things-to-know-before-the-opening-bell-3

The Nifty 50 maintained its upward journey for another session amid range-bound trading and closed 17 points higher on January 1. The index made an attempt to hit the 26,200 level, which also coincides with a falling resistance trendline, but failed to sustain near it and finished slightly below 26,150. Momentum and technical indicators remained supportive; hence, experts believe the index is expected to give a strong breakout above 26,200 and march toward the 26,350–26,400 zone in the upcoming sessions. Until then, minor consolidation may continue, with immediate key support placed in the 26,050–26,000 zone.

<img class="alignnone size-full wp-image-13753138 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101172730_Image101012025.jpg" alt="Image101012025" width="1281" height="646" />

Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The <a href="https://www.moneycontrol.com/indian-indices/nifty-50-9.html" target="_blank">Nifty 50</a> (26,147)

Resistance based on pivot points: 26,185, 26,205, and 26,237

Support based on pivot points: 26,120, 26,101, and 26,068

Special Formation: The Nifty 50 formed a small-bodied bearish candle with minor shadows on the daily charts, indicating range-bound trading, but continued its higher high–higher low structure for another session after taking support and forming a higher bottom on the day of the Doji candle formation on December 30. Further improvement was seen in momentum indicators, with the RSI at 56.65 and the Stochastic RSI maintaining a bullish crossover. The MACD showed a bullish breakout, with the histogram climbing above the zero line. All these indicators suggest continued underlying strength in the trend despite short-term consolidation.

2) Key Levels For The <a href="https://www.moneycontrol.com/indian-indices/nifty-bank-23.html" target="_blank">Bank Nifty</a> (59,712)

Resistance based on pivot points: 59,741, 59,782, and 59,848

Support based on pivot points: 59,608, 59,568, and 59,501

Resistance based on Fibonacci retracement: 60,875, 62,294

Support based on Fibonacci retracement: 59,417, 58,985

Special Formation: The Bank Nifty also witnessed range-bound trading, forming a small bullish candle on the daily timeframe and closing near the upper Bollinger Bands. The index could not move beyond the previous day’s high, though it continued its upward journey for the third straight session, rising 130 points. The RSI climbed to 61.95 and the Stochastic RSI reached 81.50, while the MACD remained on the verge of a bullish crossover, with weakness in the histogram fading further. All these indicators point to sustained bullish bias with a possibility of continuation once resistance levels are crossed.

<img class="alignnone size-full wp-image-13753139 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101172752_Image201012025.jpg" alt="Image201012025" width="1281" height="646" />

3) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Nifty Call Options Data</a>

According to the weekly options data, the 26,200 strike holds the maximum Call open interest (with 1.23 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 26,400 strike (1.07 crore contracts) and 27,000 strike (1.02 crore contracts).

Maximum Call writing was observed at the 26,200 strike, which saw an addition of 59.75 lakh contracts, followed by the 26,350 and 27,000 strikes, which added 40.45 lakh and 38.18 lakh contracts, respectively. The maximum Call unwinding was seen at the 26,000 strike, which shed 1.76 lakh contracts, followed by the 25,800 and 25,900 strikes, which shed 1.34 lakh and 1.25 lakh contracts, respectively.

<img class="alignnone size-full wp-image-13753140 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101172811_Image401012025.jpg" alt="Image401012025" width="1255" height="341" />

4) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Nifty Put Options Data</a>

On the Put side, the maximum Put open interest was seen at the 26,000 strike (with 1.51 crore contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 26,100 strike (1.02 crore contracts) and the 25,900 strike (84.43 lakh contracts).

The maximum Put writing was placed at the 26,150 strike, which saw an addition of 24.06 lakh contracts, followed by the 26,100 and 26,000 strikes, which added 23.1 lakh and 15.78 lakh contracts, respectively. The maximum Put unwinding was seen at the 26,450 strike, which shed 19,890 contracts, followed by the 26,500 and 26,600 strikes, which shed 19,695 and 18,850 contracts, respectively.

<img class="alignnone size-full wp-image-13753141 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101172832_Image501012025.jpg" alt="Image501012025" width="1248" height="338" />

5) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Bank Nifty Call Options Data</a>

According to the monthly options data, the 59,500 strike holds the maximum Call open interest, with 14.91 lakh contracts. This can act as a key level for the index in the short term. It was followed by the 60,000 strike (12.32 lakh contracts) and the 61,000 strike (4.97 lakh contracts).

Maximum Call writing was observed at the 60,000 strike (with the addition of 2.1 lakh contracts), followed by the 61,500 strike (49,440 contracts) and 59,700 strike (43,770 contracts). The maximum Call unwinding was seen at the 59,500 strike, which shed 15,300 contracts, followed by the 61,300 and 60,900 strikes which shed 13,470 and 10,260 contracts, respectively.

<img class="alignnone size-full wp-image-13753142 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101172851_Image601012025.jpg" alt="Image601012025" width="1251" height="342" />

6) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Bank Nifty Put Options Data</a>

On the Put side, the maximum Put open interest was seen at the 59,500 strike (with 18.61 lakh contracts), which can act as a key support level for the index. This was followed by the 59,000 strike (9.11 lakh contracts) and the 60,000 strike (7.13 lakh contracts).

The maximum Put writing was placed at the 60,000 strike (which added 1.59 lakh contracts), followed by the 59,500 strike (78,120 contracts) and the 59,700 strike (76,560 contracts). The maximum Put unwinding was seen at the 58,000 strike, which shed 16,530 contracts, followed by the 58,200 and 59,300 strikes, which shed 9420 and 4,020 contracts, respectively.

<img class="alignnone size-full wp-image-13753143 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101172909_Image701012025.jpg" alt="Image701012025" width="1248" height="344" />

7) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Funds Flow (Rs crore)</a>

<img class="alignnone size-full wp-image-13753208 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101220348_Image2701012026.jpg" alt="Image2701012026" width="700" height="414" />

8) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Put-Call Ratio</a>

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 1.13 on January 1, compared to 1.27 in the previous session.

The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.

<img class="alignnone size-full wp-image-13753145 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101172942_Image901012025.jpg" alt="Image901012025" width="1252" height="512" />

9) <a href="https://www.moneycontrol.com/indian-indices/india-vix-36.html" target="_blank">India VIX</a>

The India VIX, also known as the fear gauge, finished near an all-time closing low and extended its downward journey for the third consecutive session on Thursday, maintaining a comfort zone for the bulls.

<img class="alignnone size-full wp-image-13753146 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101172959_Image301012025.jpg" alt="Image301012025" width="1281" height="646" />

10) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Build-up (85 Stocks)</a>

A long build-up was seen in 85 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

<img class="alignnone size-full wp-image-13753203 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101220012_Image2201012026.jpg" alt="Image2201012026" width="700" height="700" />

11) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Unwinding (18 Stocks)</a>

18 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.

<img class="alignnone size-full wp-image-13753204 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101220054_Image2301012026.jpg" alt="Image2301012026" width="700" height="700" />

12) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short Build-up (60 Stocks)</a>

60 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.

<img class="alignnone size-full wp-image-13753205 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101220142_Image2401012026.jpg" alt="Image2401012026" width="700" height="612" />

13) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short-Covering (46 Stocks)</a>

46 stocks saw short-covering, meaning a decrease in OI, along with a price increase.

<img class="alignnone size-full wp-image-13753206 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101220227_Image2501012026.jpg" alt="Image2501012026" width="700" height="700" />

14) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">High Delivery Trades</a>

Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock.

<img class="alignnone size-full wp-image-13753207 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260101220308_Image2601012026.jpg" alt="Image2601012026" width="700" height="729" />

15) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Stocks Under F&amp;O Ban</a>

Securities banned under the F&amp;O segment include companies where derivative contracts cross 95 percent of the market-wide position limit.

Stocks added to F&amp;O ban: SAIL

Stocks retained in F&amp;O ban: Nil

Stocks removed from F&amp;O ban: Nil

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Trade setup for January 2: Top 15 things to know before the opening bell

The Nifty 50 maintained its upward journey for another session amid range-bound trading and closed 17 points higher on January 1. The index made an attempt to hit the 26,200 level, which also coincides with a falling resistance trendline, but failed to sustain near it and finished slightly below 26,150. Momentum and technical indicators remained supportive; hence, experts believe the index is expected to give a strong breakout above 26,200 and march toward the 26,350–26,400 zone in the upcoming sessions. Until then, minor consolidation may continue, with immediate key support placed in the 26,050–26,000 zone.



Here are 15 data points we have collated to help you spot profitable trades:

1) Key Levels For The Nifty 50 (26,147)

Resistance based on pivot points: 26,185, 26,205, and 26,237

Support based on pivot points: 26,120, 26,101, and 26,068

Special Formation: The Nifty 50 formed a small-bodied bearish candle with minor shadows on the daily charts, indicating range-bound trading, but continued its higher high–higher low structure for another session after taking support and forming a higher bottom on the day of the Doji candle formation on December 30. Further improvement was seen in momentum indicators, with the RSI at 56.65 and the Stochastic RSI maintaining a bullish crossover. The MACD showed a bullish breakout, with the histogram climbing above the zero line. All these indicators suggest continued underlying strength in the trend despite short-term consolidation.

2) Key Levels For The Bank Nifty (59,712)

Resistance based on pivot points: 59,741, 59,782, and 59,848

Support based on pivot points: 59,608, 59,568, and 59,501

Resistance based on Fibonacci retracement: 60,875, 62,294

Support based on Fibonacci retracement: 59,417, 58,985

Special Formation: The Bank Nifty also witnessed range-bound trading, forming a small bullish candle on the daily timeframe and closing near the upper Bollinger Bands. The index could not move beyond the previous day’s high, though it continued its upward journey for the third straight session, rising 130 points. The RSI climbed to 61.95 and the Stochastic RSI reached 81.50, while the MACD remained on the verge of a bullish crossover, with weakness in the histogram fading further. All these indicators point to sustained bullish bias with a possibility of continuation once resistance levels are crossed.



3) Nifty Call Options Data

According to the weekly options data, the 26,200 strike holds the maximum Call open interest (with 1.23 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 26,400 strike (1.07 crore contracts) and 27,000 strike (1.02 crore contracts).

Maximum Call writing was observed at the 26,200 strike, which saw an addition of 59.75 lakh contracts, followed by the 26,350 and 27,000 strikes, which added 40.45 lakh and 38.18 lakh contracts, respectively. The maximum Call unwinding was seen at the 26,000 strike, which shed 1.76 lakh contracts, followed by the 25,800 and 25,900 strikes, which shed 1.34 lakh and 1.25 lakh contracts, respectively.



4) Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 26,000 strike (with 1.51 crore contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 26,100 strike (1.02 crore contracts) and the 25,900 strike (84.43 lakh contracts).

The maximum Put writing was placed at the 26,150 strike, which saw an addition of 24.06 lakh contracts, followed by the 26,100 and 26,000 strikes, which added 23.1 lakh and 15.78 lakh contracts, respectively. The maximum Put unwinding was seen at the 26,450 strike, which shed 19,890 contracts, followed by the 26,500 and 26,600 strikes, which shed 19,695 and 18,850 contracts, respectively.



5) Bank Nifty Call Options Data

According to the monthly options data, the 59,500 strike holds the maximum Call open interest, with 14.91 lakh contracts. This can act as a key level for the index in the short term. It was followed by the 60,000 strike (12.32 lakh contracts) and the 61,000 strike (4.97 lakh contracts).

Maximum Call writing was observed at the 60,000 strike (with the addition of 2.1 lakh contracts), followed by the 61,500 strike (49,440 contracts) and 59,700 strike (43,770 contracts). The maximum Call unwinding was seen at the 59,500 strike, which shed 15,300 contracts, followed by the 61,300 and 60,900 strikes which shed 13,470 and 10,260 contracts, respectively.



6) Bank Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 59,500 strike (with 18.61 lakh contracts), which can act as a key support level for the index. This was followed by the 59,000 strike (9.11 lakh contracts) and the 60,000 strike (7.13 lakh contracts).

The maximum Put writing was placed at the 60,000 strike (which added 1.59 lakh contracts), followed by the 59,500 strike (78,120 contracts) and the 59,700 strike (76,560 contracts). The maximum Put unwinding was seen at the 58,000 strike, which shed 16,530 contracts, followed by the 58,200 and 59,300 strikes, which shed 9420 and 4,020 contracts, respectively.



7) Funds Flow (Rs crore)



8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, fell to 1.13 on January 1, compared to 1.27 in the previous session.

The increasing PCR, or being higher than 0.7 or surpassing 1, means traders are selling more Put options than Call options, which generally indicates the firming up of a bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, then it indicates selling in Calls is higher than selling in Puts, reflecting a bearish mood in the market.



9) India VIX

The India VIX, also known as the fear gauge, finished near an all-time closing low and extended its downward journey for the third consecutive session on Thursday, maintaining a comfort zone for the bulls.



10) Long Build-up (85 Stocks)

A long build-up was seen in 85 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.



11) Long Unwinding (18 Stocks)

18 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.



12) Short Build-up (60 Stocks)

60 stocks saw an increase in OI along with a fall in price, indicating a build-up of short positions.



13) Short-Covering (46 Stocks)

46 stocks saw short-covering, meaning a decrease in OI, along with a price increase.



14) High Delivery Trades

Here are the stocks that saw a high share of delivery trades. A high share of delivery reflects investing (as opposed to trading) interest in a stock.



15) Stocks Under F&amp;amp;O Ban

Securities banned under the F&amp;amp;O segment include companies where derivative contracts cross 95 percent of the market-wide position limit.

Stocks added to F&amp;amp;O ban: SAIL

Stocks retained in F&amp;amp;O ban: Nil

Stocks removed from F&amp;amp;O ban: Nil

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

Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Weekly options data continued to suggest 26,000–26,100 as a support zone for the Nifty 50, with resistance placed at 26,200–26,400.

shorts/business/technical-view-trendline-breakout-must-for-nifty-50-bank-nifty-to-move-toward-new-highs-india-vix-favours-bulls

The Nifty 50 witnessed consolidation within a narrow range of around 60 points on January 1, following a sharp rally in the previous session. The index closed higher, continued its uptrend, and maintained a higher high–higher low formation for the second consecutive session, supported by a bullish crossover in momentum indicators. It also sustained well above all key moving averages and inched toward the upper Bollinger Bands, while a subdued VIX favoured the bulls.

According to experts, the Nifty 50 must decisively surpass and hold above the falling resistance trendline, which lies slightly above the 26,200 zone, for a move toward the record high of 26,326. Until then, the index may continue to consolidate, with support seen at 26,050–26,000. Below this level, bears may come into action.

The Nifty 50 opened higher and climbed to an intraday high of 26,198, followed by range-bound trade during the remaining part of the session. The index finished at 26,147, up 17 points, and formed a small bearish candle with upper and lower shadows on the daily charts, following a long bullish candle in the previous session, indicating range-bound trade.

“Having formed a new higher bottom reversal pattern recently at 25,878 on Tuesday, the market is expected to move up further and decisively break above the hurdle of 26,200 levels after 1–2 sessions of consolidation,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

After moving above 26,200, the Nifty is expected to show a sharp breakout toward the 26,300–26,400 levels in the near term, while the immediate support is placed at 26,050, he added.

Weekly options data continued to suggest 26,000–26,100 as a support zone for the Nifty 50, with resistance placed at 26,200–26,400.

The 26,200 strike holds the maximum Call open interest, followed by the 26,400 and 27,000 strikes, with maximum Call writing seen at the 26,200, 26,350, and 27,000 strikes. On the Put side, the maximum Put open interest was observed at the 26,000 strike, followed by the 26,100 and 25,900 strikes, while maximum Put writing was seen at the 26,150, 26,100, and 26,000 strikes.

Bank Nifty

The Bank Nifty continued its upward journey for the third straight session, rising 130 points to close at 59,712 after consolidating within a narrow range. The index formed a small-bodied candle, reinforcing the view that neither bulls nor bears were willing to take decisive control during the session.

Now the index needs to give convincing close above previous day's high (59,770) as that could open the door for the psychological 60,000 mark, while support is placed in the 59,300–59,200 zone, according to experts.

After breaking out of a down-sloping resistance trendline in the previous session, the index reached near another falling resistance trendline. A decisive move above this level could open the door for the psychological 60,000 mark, while support is placed in the 59,300–59,200 zone, according to experts.

Momentum indicators showed further improvement, with the RSI rising to 61.95 and the Stochastic RSI climbing above the 80 zone. The MACD is on the verge of a bullish crossover, and the histogram has also moved closer to the zero line.

“The zone of 59,900–60,000 will act as the immediate hurdle. A sustained move above 60,000 is likely to trigger a continuation of the up move, opening the doors for a rally toward 60,600 in the near term,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.

On the downside, the levels of 59,200–59,100 remain crucial support, and a breach below this zone may pause the bullish momentum, he added.

Meanwhile, the India VIX, also known as the fear gauge, declined for the third consecutive session and reached near an all-time closing low, falling 3.06 percent to the 9.18 zone, favouring the bulls.

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.

Technical View: Trendline breakout must for Nifty 50, Bank Nifty to move toward new highs; India VIX favours bulls

The Nifty 50 witnessed consolidation within a narrow range of around 60 points on January 1, following a sharp rally in the previous session. The index closed higher, continued its uptrend, and maintained a higher high–higher low formation for the second consecutive session, supported by a bullish crossover in momentum indicators. It also sustained well above all key moving averages and inched toward the upper Bollinger Bands, while a subdued VIX favoured the bulls.

According to experts, the Nifty 50 must decisively surpass and hold above the falling resistance trendline, which lies slightly above the 26,200 zone, for a move toward the record high of 26,326. Until then, the index may continue to consolidate, with support seen at 26,050–26,000. Below this level, bears may come into action.

The Nifty 50 opened higher and climbed to an intraday high of 26,198, followed by range-bound trade during the remaining part of the session. The index finished at 26,147, up 17 points, and formed a small bearish candle with upper and lower shadows on the daily charts, following a long bullish candle in the previous session, indicating range-bound trade.

“Having formed a new higher bottom reversal pattern recently at 25,878 on Tuesday, the market is expected to move up further and decisively break above the hurdle of 26,200 levels after 1–2 sessions of consolidation,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

After moving above 26,200, the Nifty is expected to show a sharp breakout toward the 26,300–26,400 levels in the near term, while the immediate support is placed at 26,050, he added.

Weekly options data continued to suggest 26,000–26,100 as a support zone for the Nifty 50, with resistance placed at 26,200–26,400.

The 26,200 strike holds the maximum Call open interest, followed by the 26,400 and 27,000 strikes, with maximum Call writing seen at the 26,200, 26,350, and 27,000 strikes. On the Put side, the maximum Put open interest was observed at the 26,000 strike, followed by the 26,100 and 25,900 strikes, while maximum Put writing was seen at the 26,150, 26,100, and 26,000 strikes.

Bank Nifty

The Bank Nifty continued its upward journey for the third straight session, rising 130 points to close at 59,712 after consolidating within a narrow range. The index formed a small-bodied candle, reinforcing the view that neither bulls nor bears were willing to take decisive control during the session.

Now the index needs to give convincing close above previous day's high (59,770) as that could open the door for the psychological 60,000 mark, while support is placed in the 59,300–59,200 zone, according to experts.

After breaking out of a down-sloping resistance trendline in the previous session, the index reached near another falling resistance trendline. A decisive move above this level could open the door for the psychological 60,000 mark, while support is placed in the 59,300–59,200 zone, according to experts.

Momentum indicators showed further improvement, with the RSI rising to 61.95 and the Stochastic RSI climbing above the 80 zone. The MACD is on the verge of a bullish crossover, and the histogram has also moved closer to the zero line.

“The zone of 59,900–60,000 will act as the immediate hurdle. A sustained move above 60,000 is likely to trigger a continuation of the up move, opening the doors for a rally toward 60,600 in the near term,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.

On the downside, the levels of 59,200–59,100 remain crucial support, and a breach below this zone may pause the bullish momentum, he added.

Meanwhile, the India VIX, also known as the fear gauge, declined for the third consecutive session and reached near an all-time closing low, falling 3.06 percent to the 9.18 zone, favouring the bulls.

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.

Sensex down 32 points, Nifty up 17 points, ending flat after midday dip, FMCG and pharma indices fell, while auto, IT, metal, power, PSU Bank gained, Over 130 stocks hit 52-week highs; Vodafone Idea, Steel Strips Wheels surged

* Sensex down 32 points, Nifty up 17 points, ending flat after midday dip
* FMCG and pharma indices fell, while auto, IT, metal, power, PSU Bank gained
* Over 130 stocks hit 52-week highs; Vodafone Idea, Steel Strips Wheels surged

Indian equity indices opened higher in 2026 but closed flat after midday profit booking. Sensex fell 32 points, Nifty rose 17. FMCG and pharma lagged, while auto, IT, and PSU banks gained. Over 130 stocks hit 52-week highs; ITC fell 9% on new excise duty.

shorts/business/taking-stock-market-witnesses-volatility-on-first-day-of-2026-ends-flat

* Sensex down 32 points, Nifty up 17 points, ending flat after midday dip
* FMCG and pharma indices fell, while auto, IT, metal, power, PSU Bank gained
* Over 130 stocks hit 52-week highs; Vodafone Idea, Steel Strips Wheels surged

The Indian equity indices started 2026 on a positive note, extending the previous session's gains amid buying across the sectors barring FMCG, pharma. However, midday profit booking trimmed much of the early gains to close on a flat note.

At close, the Sensex was down 32 points or 0.04 percent at 85,188.60, and the Nifty was up 16.95 points or 0.06 percent at 26,146.55. The BSE midcap index rose 0.3 percent, while smallcap index ended flat.

The market traded in a narrow range during today's session, opening higher and approaching the 26,200 level, but ultimately consolidated gains to close with little change.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/india-posts-slowest-mcap-rise-in-three-years-amid-global-surge-in-2025-13751934.html">India posts slowest mcap rise in three years amid global surge in 2025</a>

Eternal, NTPC, Bajaj Auto, Shriram Finance, Wipro were among top gainers on the Nifty, while losers were ITC, Bajaj Finance, Dr Reddy's Labs, ONGC, Tata Consumer.

On the sectoral front, FMCG index shed 3 percent, and pharma index down 0.4 percent, while auto, IT, metal, power, telecom, PSU Bank up 0.4-1.5 percent.

Also Read - <a href="https://www.moneycontrol.com/news/business/moneycontrol-research/will-the-nifty-cross-30-000-in-2026-13752085.html">Will the Nifty cross 30,000 in 2026?</a>

In stocks, Blue Dart Express shares gained 2.5% as tax demand drops, Jindal Poly Films shares declined 2% on reporting losses in Q2, ITC shares fell 9%, Godfrey Phillips shed 17% as govt imposes new excise duty on cigarettes.

Escorts Kubota shares rose 2% as tractor sales jump 38.5%, Vodafone Idea shares rose 8% on agreement with the Vodafone Group, SML Mahindra share price jumped 3% as sales increase by 67%, Steel Strips Wheels share price rose 8% as sales jumps 22%.

More than 130 stocks hit 52-week high, including Ashok Leyland, Adani Energy, APL Apollo, Bank of Maharahtra, TVS Motor, Graphite India, Shriram Finance, IIFL Finance, L&amp;T Finance, Phoenix Mills, SAIL, Hindalco Industries, Reliance Industries, Titan Company, HPCL, BPCL, Indus Towers, among others. <a href="https://www.moneycontrol.com/stocks/market-stats/52-week-high-bse/?indexName=BSE%2520500&amp;id=12">Click to View More</a>

Outlook for January 2

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a sharp upmove on Wednesday, Nifty consolidated with narrow range movement on Thursday and closed the day higher by 16 points. Nifty opened on a positive note, later shifted into a range bound action and that continued for the whole session. The high low range for the day was around 85 points.

A small negative candle was formed on the daily chart and Nifty is currently resisting at the down sloping trend line around 26200 levels. Having formed a new higher bottom reversal pattern recently at 25878, the market is expected move up further and break decisively above the hurdle of 26200 levels after 1-2 sessions of consolidation movement.

The near-term uptrend of Nifty remains intact. After a smaller consolidation movement near 26100-26200 levels in the short term, the Nifty is expected to show sharp breakout towards 26300-26400 levels in the near term. Immediate support is placed at 2605

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On the first trading session of calendar year 2026, the benchmark Nifty index opened the year on a subdued note, moving within a narrow intraday band of just 84 points. This was the smallest daily trading range recorded since September 17, 2025, reflecting a phase of indecision and limited participation from both buyers and sellers. The index ultimately formed a small-bodied candle on the daily chart, a technical signal that typically denotes hesitation and a lack of clear directional conviction in the market.

Going ahead, for Nifty, the zone of 26200-26240 will act as an important hurdle for the index. Any sustainable move above the 26240 level will lead to a sharp upside rally in the index upto the 26400 level in the short term. On the downside, the zone of 26030-26000 will act as immediate support for the index.

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 decision.

Taking Stock: Market witnesses volatility on first day of 2026, ends flat

The Indian equity indices started 2026 on a positive note, extending the previous session's gains amid buying across the sectors barring FMCG, pharma. However, midday profit booking trimmed much of the early gains to close on a flat note.

At close, the Sensex was down 32 points or 0.04 percent at 85,188.60, and the Nifty was up 16.95 points or 0.06 percent at 26,146.55. The BSE midcap index rose 0.3 percent, while smallcap index ended flat.

The market traded in a narrow range during today's session, opening higher and approaching the 26,200 level, but ultimately consolidated gains to close with little change.

Also Read: India posts slowest mcap rise in three years amid global surge in 2025

Eternal, NTPC, Bajaj Auto, Shriram Finance, Wipro were among top gainers on the Nifty, while losers were ITC, Bajaj Finance, Dr Reddy's Labs, ONGC, Tata Consumer.

On the sectoral front, FMCG index shed 3 percent, and pharma index down 0.4 percent, while auto, IT, metal, power, telecom, PSU Bank up 0.4-1.5 percent.

Also Read - Will the Nifty cross 30,000 in 2026?

In stocks, Blue Dart Express shares gained 2.5% as tax demand drops, Jindal Poly Films shares declined 2% on reporting losses in Q2, ITC shares fell 9%, Godfrey Phillips shed 17% as govt imposes new excise duty on cigarettes.

Escorts Kubota shares rose 2% as tractor sales jump 38.5%, Vodafone Idea shares rose 8% on agreement with the Vodafone Group, SML Mahindra share price jumped 3% as sales increase by 67%, Steel Strips Wheels share price rose 8% as sales jumps 22%.

More than 130 stocks hit 52-week high, including Ashok Leyland, Adani Energy, APL Apollo, Bank of Maharahtra, TVS Motor, Graphite India, Shriram Finance, IIFL Finance, L&amp;amp;T Finance, Phoenix Mills, SAIL, Hindalco Industries, Reliance Industries, Titan Company, HPCL, BPCL, Indus Towers, among others. Click to View More

Outlook for January 2

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a sharp upmove on Wednesday, Nifty consolidated with narrow range movement on Thursday and closed the day higher by 16 points. Nifty opened on a positive note, later shifted into a range bound action and that continued for the whole session. The high low range for the day was around 85 points.

A small negative candle was formed on the daily chart and Nifty is currently resisting at the down sloping trend line around 26200 levels. Having formed a new higher bottom reversal pattern recently at 25878, the market is expected move up further and break decisively above the hurdle of 26200 levels after 1-2 sessions of consolidation movement.

The near-term uptrend of Nifty remains intact. After a smaller consolidation movement near 26100-26200 levels in the short term, the Nifty is expected to show sharp breakout towards 26300-26400 levels in the near term. Immediate support is placed at 2605

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

On the first trading session of calendar year 2026, the benchmark Nifty index opened the year on a subdued note, moving within a narrow intraday band of just 84 points. This was the smallest daily trading range recorded since September 17, 2025, reflecting a phase of indecision and limited participation from both buyers and sellers. The index ultimately formed a small-bodied candle on the daily chart, a technical signal that typically denotes hesitation and a lack of clear directional conviction in the market.

Going ahead, for Nifty, the zone of 26200-26240 will act as an important hurdle for the index. Any sustainable move above the 26240 level will lead to a sharp upside rally in the index upto the 26400 level in the short term. On the downside, the zone of 26030-26000 will act as immediate support for the index.

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 decision.

3 out of 8 years NIFTY MIDCAP 150 has given negative returns in January.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	22,428.48	22,487.82	22,596.53	22,319.77	22,260.43	22,151.72	22,092.38
Fibonacci	22,383.96	22,423.62	22,487.82	22,319.77	22,255.57	22,215.91	22,151.72
Camarilla	22,384.55	22,399.96	22,415.36	22,319.77	22,353.75	22,338.34	22,322.94

INDEX CONTRIBUTION - NIFTY MIDCAP 150

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