Nifty Oil & Gas

If Nifty 50 breaks and sustains above 25,450, an uptrend towards 25,600 possible, Below 25,450, range-bound trading may continue with support at 24,900, Bank Nifty needs to take out 59,500 for a sustainable rally towards 60,000, Below 59,500, consolidation may be seen with key support at 58,100

* If Nifty 50 breaks and sustains above 25,450, an uptrend towards 25,600 possible
* Below 25,450, range-bound trading may continue with support at 24,900
* Bank Nifty needs to take out 59,500 for a sustainable rally towards 60,000
* Below 59,500, consolidation may be seen with key support at 58,100

shorts/business/trading-plan-can-nifty-50-bank-nifty-see-follow-through-buying-interest

* If Nifty 50 breaks and sustains above 25,450, an uptrend towards 25,600 possible
* Below 25,450, range-bound trading may continue with support at 24,900
* Bank Nifty needs to take out 59,500 for a sustainable rally towards 60,000
* Below 59,500, consolidation may be seen with key support at 58,100

The Nifty 50 and Bank Nifty rebounded nicely but need stronger momentum and technical indicators for follow-through buying interest. Until then, there could be range-bound trading for a few more sessions. If the Nifty 50 breaks and sustains above 25,450, an uptrend towards 25,600 is possible. Until then, range-bound trading may continue with support at 24,900. Meanwhile, the Bank Nifty needs to take out 59,500 for a sustainable rally towards 60,000; however, below this level, consolidation may be seen with key support at 58,100, experts said.

On January 27, the Nifty 50 jumped 127 points (0.51 percent) to 25,175, while the Bank Nifty rallied 732 points (1.25 percent) to 59,205. Market breadth remained unfavourable, as about 1,622 shares declined against 1,311 advancing shares on the NSE.

Nifty Outlook and Strategy

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

Over the past 14 consecutive sessions, Nifty has continued to drift lower while protecting the prior day’s high on a closing basis. In the previous session, higher volatility was witnessed due to the monthly F&amp;O expiry, and now markets are heading into an important and much-awaited event—the Union Budget scheduled later this week.

Hence, volatility is expected to remain elevated throughout the week. On the daily chart, Nifty is currently trading near the upward-sloping trendline of the channel, and a breakdown below the 24,920 level could trigger a panic sell-off and drag prices lower towards the 24,728 level. Meanwhile, a sustainable move above 25,250 could result in short-term pullbacks.

Key Resistance: 25,500

Key Support: 24,728

Strategy: Long positions can be created if Nifty Futures give a 15-minute close above 25,250, with a stop-loss at 25,120 and targets at 25,380 followed by 25,500.

Aditya Thukral, Founder &amp; Analyst of AT Research &amp; Risk Managers

The Nifty 50 has been hovering around the 200-day exponential moving average for the past few days and has remained sideways within the broader range of 24,900–25,450. However, the price structure still remains negative, with the formation of lower highs and lower lows. This is the sixth trading session in which prices have closed below the 20-day, 50-day, and 100-day EMAs, all of which are now sloping downwards. A halt to this selling and a fall in volatility are only possible when the index closes above 25,450 on a daily timeframe, which is the resistance level from the falling trendline.

Technically, the short-term downtrend remains in force, and with deteriorating market breadth, selling pressure might resume, but only after completion of the corrective move. At the same time, the 14-period RSI is bouncing from the oversold zone on the daily timeframe, suggesting that a bounce can be seen in index prices at least up to the resistance area of 25,450. Positioning in the derivatives segment also suggests a sideways market in the near term.

Key Resistance: 25,450, 25,600

Key Support: 25,000, 24,800

Strategy: Buy Nifty Futures on dips around 25,200 with a stop-loss at 25,049, targeting 25,500.

Preeti K Chabra, Founder of Trade Delta

On the daily timeframe, Nifty formed a bullish candle but continues to trade within a steep downward-sloping channel, where any rebound is met with fresh selling pressure, clearly reinforcing bearish control. The index is trading below the 40-day EMA at 25,737 and the 20-day SMA (middle Bollinger Band) at 25,749, indicating sustained selling pressure at higher levels.

On the downside, 24,969 emerges as a crucial support level, coinciding with the 78.6 percent Fibonacci retracement of the rally from the September 30 low of 24,587 to the January 5 high of 26,373. A decisive breakdown below this level could accelerate further weakness. On the upside, the 61.8 percent retracement level of 25,269 is acting as an immediate resistance. The daily RSI at 34.29, although positioned below its signal line, is trending upward, suggesting some relief in selling pressure.

On the weekly timeframe, Nifty closed slightly below the 40-week EMA at 25,186, and a sustained close below this crucial level would likely resume selling pressure and deepen the corrective phase.

From a derivatives perspective, weekly options data is neutral, indicating no clear direction. Overall, the broader structure remains bearish, and unless Nifty decisively breaks out of the downward-sloping channel, the index is likely to remain under pressure with a downside bias.

Key Resistance: 25,269, 25,347

Key Support: 24,969, 24,850

Strategy: Consider selling Nifty Futures near 25,269 for a target of 24,969 followed by 24,850, with a stop-loss at 25,347.

Bank Nifty - Outlook and Positioning

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

In the previous session, Bank Nifty took a breather and staged a smart recovery from the day’s low after the sharp decline witnessed over the past week. However, the index failed to close above the prior day’s high, which keeps the daily bias tilted towards the sell side. For any meaningful reversal to occur, a decisive close above the previous day’s high is essential.

On the daily chart, prices are currently hovering near the 23.6 percent retracement of the entire rally that began on September 25, 2025. Any breakdown below 58,100 could accelerate the sell-off further.

A break above 59,600 can confirm a short-term reversal, which could push prices higher towards the 59,900–60,000 zone, while a break back below 58,100 is required for selling pressure to resume.

Key Resistance: 60,000

Key Support: 58,100

Strategy: Long positions in Bank Nifty Futures can be created above 59,450, with a stop-loss at 59,150 and targets at 59,750 followed by 60,000.

Aditya Thukral, Founder &amp; Analyst of AT Research &amp; Risk Managers

The short-term trend of the banking index appears sideways, as the index is hovering between 58,100 and 59,600, which are the support and resistance areas derived from the 20-day EMA and the 100-day EMA, respectively. The fall from the top appears to be corrective in nature, and the index may once again test the psychological resistance of 60,000 on a break above 59,600. Considering the fact that prices are able to protect the 50-day and 100-day EMAs, there are higher chances of a possible recovery.

From the positioning in the derivatives segment, aggressive long build-up and mild short covering suggest that anticipation of limited downside risk prevails in the near term. This makes sentiment somewhat positive for the banking sector.

Key Resistance: 59,600, 60,000

Key Support: 58,600, 58,200

Strategy: Buy Bank Nifty Futures on dips around 59,300 with a stop-loss at 58,974, targeting 59,900.

Preeti K Chabra, Founder of Trade Delta

Bank Nifty formed a strong bullish candle on the daily chart and closed above the 40-day EMA at 59,190 and the 38.2 percent Fibonacci retracement level at 59,184, calculated from the rally between the November 7 low of 57,157 and the January 5 high of 60,437, thereby reinforcing a strong near-term support base. A sustained close above this level over the next few trading sessions will add bullish momentum to Bank Nifty. On the upside, the 20-day SMA (middle Bollinger Band) at 59,515 is acting as a crucial resistance.

The daily RSI at 48.5 is slightly below the signal line but is trending upward, suggesting a loss of selling pressure. From a derivatives perspective, monthly options data remains neutral, as it is the start of a new series, thus providing no clear indication.

Overall, Bank Nifty is showing signs of recovery, and traders may consider adopting a buy-on-dips strategy.

Key Resistance: 59,400, 59,515

Key Support: 58,797, 58,600

Strategy: Buy Bank Nifty Futures near the cash reference level of 58,797 for an upside target of 59,400 followed by 59,515, while maintaining a stop-loss at 58,600.

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.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Trading Plan: Can Nifty 50, Bank Nifty see follow-through buying interest?

The Nifty 50 and Bank Nifty rebounded nicely but need stronger momentum and technical indicators for follow-through buying interest. Until then, there could be range-bound trading for a few more sessions. If the Nifty 50 breaks and sustains above 25,450, an uptrend towards 25,600 is possible. Until then, range-bound trading may continue with support at 24,900. Meanwhile, the Bank Nifty needs to take out 59,500 for a sustainable rally towards 60,000; however, below this level, consolidation may be seen with key support at 58,100, experts said.

On January 27, the Nifty 50 jumped 127 points (0.51 percent) to 25,175, while the Bank Nifty rallied 732 points (1.25 percent) to 59,205. Market breadth remained unfavourable, as about 1,622 shares declined against 1,311 advancing shares on the NSE.

Nifty Outlook and Strategy

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

Over the past 14 consecutive sessions, Nifty has continued to drift lower while protecting the prior day’s high on a closing basis. In the previous session, higher volatility was witnessed due to the monthly F&amp;amp;O expiry, and now markets are heading into an important and much-awaited event—the Union Budget scheduled later this week.

Hence, volatility is expected to remain elevated throughout the week. On the daily chart, Nifty is currently trading near the upward-sloping trendline of the channel, and a breakdown below the 24,920 level could trigger a panic sell-off and drag prices lower towards the 24,728 level. Meanwhile, a sustainable move above 25,250 could result in short-term pullbacks.

Key Resistance: 25,500

Key Support: 24,728

Strategy: Long positions can be created if Nifty Futures give a 15-minute close above 25,250, with a stop-loss at 25,120 and targets at 25,380 followed by 25,500.

Aditya Thukral, Founder &amp;amp; Analyst of AT Research &amp;amp; Risk Managers

The Nifty 50 has been hovering around the 200-day exponential moving average for the past few days and has remained sideways within the broader range of 24,900–25,450. However, the price structure still remains negative, with the formation of lower highs and lower lows. This is the sixth trading session in which prices have closed below the 20-day, 50-day, and 100-day EMAs, all of which are now sloping downwards. A halt to this selling and a fall in volatility are only possible when the index closes above 25,450 on a daily timeframe, which is the resistance level from the falling trendline.

Technically, the short-term downtrend remains in force, and with deteriorating market breadth, selling pressure might resume, but only after completion of the corrective move. At the same time, the 14-period RSI is bouncing from the oversold zone on the daily timeframe, suggesting that a bounce can be seen in index prices at least up to the resistance area of 25,450. Positioning in the derivatives segment also suggests a sideways market in the near term.

Key Resistance: 25,450, 25,600

Key Support: 25,000, 24,800

Strategy: Buy Nifty Futures on dips around 25,200 with a stop-loss at 25,049, targeting 25,500.

Preeti K Chabra, Founder of Trade Delta

On the daily timeframe, Nifty formed a bullish candle but continues to trade within a steep downward-sloping channel, where any rebound is met with fresh selling pressure, clearly reinforcing bearish control. The index is trading below the 40-day EMA at 25,737 and the 20-day SMA (middle Bollinger Band) at 25,749, indicating sustained selling pressure at higher levels.

On the downside, 24,969 emerges as a crucial support level, coinciding with the 78.6 percent Fibonacci retracement of the rally from the September 30 low of 24,587 to the January 5 high of 26,373. A decisive breakdown below this level could accelerate further weakness. On the upside, the 61.8 percent retracement level of 25,269 is acting as an immediate resistance. The daily RSI at 34.29, although positioned below its signal line, is trending upward, suggesting some relief in selling pressure.

On the weekly timeframe, Nifty closed slightly below the 40-week EMA at 25,186, and a sustained close below this crucial level would likely resume selling pressure and deepen the corrective phase.

From a derivatives perspective, weekly options data is neutral, indicating no clear direction. Overall, the broader structure remains bearish, and unless Nifty decisively breaks out of the downward-sloping channel, the index is likely to remain under pressure with a downside bias.

Key Resistance: 25,269, 25,347

Key Support: 24,969, 24,850

Strategy: Consider selling Nifty Futures near 25,269 for a target of 24,969 followed by 24,850, with a stop-loss at 25,347.

Bank Nifty - Outlook and Positioning

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

In the previous session, Bank Nifty took a breather and staged a smart recovery from the day’s low after the sharp decline witnessed over the past week. However, the index failed to close above the prior day’s high, which keeps the daily bias tilted towards the sell side. For any meaningful reversal to occur, a decisive close above the previous day’s high is essential.

On the daily chart, prices are currently hovering near the 23.6 percent retracement of the entire rally that began on September 25, 2025. Any breakdown below 58,100 could accelerate the sell-off further.

A break above 59,600 can confirm a short-term reversal, which could push prices higher towards the 59,900–60,000 zone, while a break back below 58,100 is required for selling pressure to resume.

Key Resistance: 60,000

Key Support: 58,100

Strategy: Long positions in Bank Nifty Futures can be created above 59,450, with a stop-loss at 59,150 and targets at 59,750 followed by 60,000.

Aditya Thukral, Founder &amp;amp; Analyst of AT Research &amp;amp; Risk Managers

The short-term trend of the banking index appears sideways, as the index is hovering between 58,100 and 59,600, which are the support and resistance areas derived from the 20-day EMA and the 100-day EMA, respectively. The fall from the top appears to be corrective in nature, and the index may once again test the psychological resistance of 60,000 on a break above 59,600. Considering the fact that prices are able to protect the 50-day and 100-day EMAs, there are higher chances of a possible recovery.

From the positioning in the derivatives segment, aggressive long build-up and mild short covering suggest that anticipation of limited downside risk prevails in the near term. This makes sentiment somewhat positive for the banking sector.

Key Resistance: 59,600, 60,000

Key Support: 58,600, 58,200

Strategy: Buy Bank Nifty Futures on dips around 59,300 with a stop-loss at 58,974, targeting 59,900.

Preeti K Chabra, Founder of Trade Delta

Bank Nifty formed a strong bullish candle on the daily chart and closed above the 40-day EMA at 59,190 and the 38.2 percent Fibonacci retracement level at 59,184, calculated from the rally between the November 7 low of 57,157 and the January 5 high of 60,437, thereby reinforcing a strong near-term support base. A sustained close above this level over the next few trading sessions will add bullish momentum to Bank Nifty. On the upside, the 20-day SMA (middle Bollinger Band) at 59,515 is acting as a crucial resistance.

The daily RSI at 48.5 is slightly below the signal line but is trending upward, suggesting a loss of selling pressure. From a derivatives perspective, monthly options data remains neutral, as it is the start of a new series, thus providing no clear indication.

Overall, Bank Nifty is showing signs of recovery, and traders may consider adopting a buy-on-dips strategy.

Key Resistance: 59,400, 59,515

Key Support: 58,797, 58,600

Strategy: Buy Bank Nifty Futures near the cash reference level of 58,797 for an upside target of 59,400 followed by 59,515, while maintaining a stop-loss at 58,600.

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.

Technical and momentum indicators still favour bears, with  cautious signal from rising VIX, Nifty to remain in 24,900–25,500 range in the short term, Falling below 24,900 can drive Nifty down to 24,600, Convincing rise above 25,500 can open door for a move toward 25,600–25,750

* Technical and momentum indicators still favour bears, with  cautious signal from rising VIX
* Nifty to remain in 24,900–25,500 range in the short term
* Falling below 24,900 can drive Nifty down to 24,600
* Convincing rise above 25,500 can open door for a move toward 25,600–25,750

shorts/business/trade-setup-for-january-28-top-15-things-to-know-before-the-opening-bell-2

* Technical and momentum indicators still favour bears, with  cautious signal from rising VIX
* Nifty to remain in 24,900–25,500 range in the short term
* Falling below 24,900 can drive Nifty down to 24,600
* Convincing rise above 25,500 can open door for a move toward 25,600–25,750

The Nifty 50 bounced back with half a percent gains following nearly a percent loss in the previous session, climbing back above the 200-day EMA with healthy volumes on January 27, the monthly F&amp;O expiry session. However, technical and momentum indicators still favour bears, with a cautious signal from the rising VIX. Experts expect the benchmark index to remain in the 24,900–25,500 range in the short term, as a decisive fall below 24,900 can drive the index down to 24,600. However, a convincing rise above 25,500 can open the door for a move toward the 25,600–25,750 levels.

<img class="alignnone size-full wp-image-13793302 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173404_Image127012026.jpg" alt="Image127012026" 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> (25,175)

Resistance based on pivot points: 25,238, 25,312, and 25,432

Support based on pivot points: 24,998, 24,924, and 24,804

Special Formation: The Nifty 50 formed a bullish candle with upper and lower shadows on the daily timeframe, indicating positivity amid volatility, but it could not close above the previous day’s high. The index climbed above the 200-day EMA but remained below all other key moving averages, with the 10-day EMA sustaining below the 20-, 50-, and 100-day EMAs. The RSI rose to 34.29, near the oversold zone but still below the signal line. The MACD remained well below the zero and reference lines, though the Stochastic RSI maintained an uptrend with a positive crossover. All this indicates cautious undertones.

2) Key Levels For The <a href="https://www.moneycontrol.com/indian-indices/nifty-bank-23.html" target="_blank">Bank Nifty</a> (59,205)

Resistance based on pivot points: 59,424, 59,734, and 60,236

Support based on pivot points: 58,419, 58,108, and 57,606

Resistance based on Fibonacci retracement: 59,550, 59,936

Support based on Fibonacci retracement: 57,824, 57,015

Special Formation: The Bank Nifty reported a long bullish candle on the daily charts with above-average volumes, which is positive, but it could not sustain above the previous day’s high on a closing basis. The index tested the 100-day EMA in the initial minutes of correction but rebounded immediately to climb above the 50-day EMA on a closing basis, while also touching short-term moving averages intraday. The RSI climbed toward the signal line to 48.51, and the Stochastic RSI turned bullish in the oversold zone, while the MACD sustained below the reference and zero lines, though histogram weakness faded slightly. All this indicates improving but cautious momentum.

<img class="alignnone size-full wp-image-13793303 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173425_Image227012026.jpg" alt="Image227012026" 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 25,500 strike holds the maximum Call open interest (with 36.65 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 25,000 strike (27.55 lakh contracts) and 25,200 strike (27.13 lakh contracts).

Maximum Call writing was observed at the 25,000 strike strike, which saw an addition of 21.43 lakh contracts, followed by the 25,200 and 25,500 strikes, which added 16.65 lakh and 16.49 lakh contracts, respectively. There was hardly any Call unwinding seen in the 24,400-25,900 strike band.

<img class="alignnone size-full wp-image-13793304 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173443_Image527012026.jpg" alt="Image527012026" width="1253" height="338" />

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 25,000 strike (with 42.02 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 25,200 strike (21.02 lakh contracts) and the 25,100 strike (20.88 lakh contracts).

The maximum Put writing was placed at the 25,000 strike, which saw an addition of 31.19 lakh contracts, followed by the 25,100 and 25,200 strikes, which added 15.02 lakh and 11.08 lakh contracts, respectively. There was hardly any Put unwinding seen in the 24,400-25,900 strike band.

<img class="alignnone size-full wp-image-13793305 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173503_Image627012026.jpg" alt="Image627012026" width="1252" 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 60,000 strike holds the maximum Call open interest, with 16.07 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 61,000 strike (3.89 lakh contracts) and the 59,000 strike (3.06 lakh contracts).

Maximum Call writing was observed at the 60,000 strike (with the addition of 1.24 lakh contracts), followed by the 61,000 strike (1.02 lakh contracts) and 59,100 strike (54,900 contracts). The maximum Call unwinding was seen at the 58,500 strike, which shed 8,580 contracts, followed by the 58,900 and 58,600 strikes which shed 3,030 and 2,490 contracts, respectively.

<img class="alignnone size-full wp-image-13793306 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173523_Image727012026.jpg" alt="Image727012026" width="1257" height="340" />

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 60,000 strike (with 13.49 lakh contracts), which can act as a key level for the index. This was followed by the 58,000 strike (6.29 lakh contracts) and the 59,000 strike (4.42 lakh contracts).

The maximum Put writing was placed at the 58,500 strike (which added 1.26 lakh contracts), followed by the 58,000 strike (91,650 contracts) and the 59,000 strike (82,080 contracts). There was hardly any Put unwinding seen in the 57,250-61,000 strike band.

<img class="alignnone size-full wp-image-13793307 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173546_Image827012026.jpg" alt="Image827012026" width="1248" height="337" />

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-13793308 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173604_Image927012026.jpg" alt="Image927012026" width="1029" height="392" />

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, jumped to 1.02 on January 27, compared to 0.7 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-13793309 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173624_Image327012026.jpg" alt="Image327012026" width="1237" height="500" />

9) <a href="https://www.moneycontrol.com/indian-indices/india-vix-36.html" target="_blank">India VIX</a>

The fear index, India VIX, jumped to 16.06 intraday but managed to cool off and settle at 14.45, up 1.83 percent, signalling continued discomfort for bulls.

<img class="alignnone size-full wp-image-13793310 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173642_Image427012026.jpg" alt="Image427012026" width="1281" height="646" />

10) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Build-up (10 Stocks)</a>

A long build-up was seen in 10 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

<img class="alignnone size-full wp-image-13793311 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173701_Image1127012026.jpg" alt="Image1127012026" width="565" height="255" />

11) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Unwinding (48 Stocks)</a>

48 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.

<img class="alignnone size-full wp-image-13793312 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173719_Image1227012026.jpg" alt="Image1227012026" width="582" height="255" />

12) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short Build-up (9 Stocks)</a>

9 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-13793313 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173734_Image1327012026.jpg" alt="Image1327012026" width="570" height="232" />

13) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short-Covering (145 Stocks)</a>

145 stocks saw short-covering, meaning a decrease in OI, along with a price increase.

<img class="alignnone size-full wp-image-13793314 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173749_Image1427012026.jpg" alt="Image1427012026" width="574" height="255" />

14) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">High Delivery Trades, and High Rollovers</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-13793315 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173807_Image1527012026.jpg" alt="Image1527012026" width="731" height="235" />

Here are the stocks which saw the highest rollovers on expiry day.

<img class="alignnone size-full wp-image-13793317 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260127173825_Image1027012026.jpg" alt="Image1027012026" width="687" height="255" />

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: Nil

Stocks retained in F&amp;O ban: Nil

Stocks removed from F&amp;O ban: Sammaan Capital

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.

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Trade setup for January 28: Top 15 things to know before the opening bell

The Nifty 50 bounced back with half a percent gains following nearly a percent loss in the previous session, climbing back above the 200-day EMA with healthy volumes on January 27, the monthly F&amp;amp;O expiry session. However, technical and momentum indicators still favour bears, with a cautious signal from the rising VIX. Experts expect the benchmark index to remain in the 24,900–25,500 range in the short term, as a decisive fall below 24,900 can drive the index down to 24,600. However, a convincing rise above 25,500 can open the door for a move toward the 25,600–25,750 levels.



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

1) Key Levels For The Nifty 50 (25,175)

Resistance based on pivot points: 25,238, 25,312, and 25,432

Support based on pivot points: 24,998, 24,924, and 24,804

Special Formation: The Nifty 50 formed a bullish candle with upper and lower shadows on the daily timeframe, indicating positivity amid volatility, but it could not close above the previous day’s high. The index climbed above the 200-day EMA but remained below all other key moving averages, with the 10-day EMA sustaining below the 20-, 50-, and 100-day EMAs. The RSI rose to 34.29, near the oversold zone but still below the signal line. The MACD remained well below the zero and reference lines, though the Stochastic RSI maintained an uptrend with a positive crossover. All this indicates cautious undertones.

2) Key Levels For The Bank Nifty (59,205)

Resistance based on pivot points: 59,424, 59,734, and 60,236

Support based on pivot points: 58,419, 58,108, and 57,606

Resistance based on Fibonacci retracement: 59,550, 59,936

Support based on Fibonacci retracement: 57,824, 57,015

Special Formation: The Bank Nifty reported a long bullish candle on the daily charts with above-average volumes, which is positive, but it could not sustain above the previous day’s high on a closing basis. The index tested the 100-day EMA in the initial minutes of correction but rebounded immediately to climb above the 50-day EMA on a closing basis, while also touching short-term moving averages intraday. The RSI climbed toward the signal line to 48.51, and the Stochastic RSI turned bullish in the oversold zone, while the MACD sustained below the reference and zero lines, though histogram weakness faded slightly. All this indicates improving but cautious momentum.



3) Nifty Call Options Data

According to the weekly options data, the 25,500 strike holds the maximum Call open interest (with 36.65 lakh contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 25,000 strike (27.55 lakh contracts) and 25,200 strike (27.13 lakh contracts).

Maximum Call writing was observed at the 25,000 strike strike, which saw an addition of 21.43 lakh contracts, followed by the 25,200 and 25,500 strikes, which added 16.65 lakh and 16.49 lakh contracts, respectively. There was hardly any Call unwinding seen in the 24,400-25,900 strike band.



4) Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 25,000 strike (with 42.02 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 25,200 strike (21.02 lakh contracts) and the 25,100 strike (20.88 lakh contracts).

The maximum Put writing was placed at the 25,000 strike, which saw an addition of 31.19 lakh contracts, followed by the 25,100 and 25,200 strikes, which added 15.02 lakh and 11.08 lakh contracts, respectively. There was hardly any Put unwinding seen in the 24,400-25,900 strike band.



5) Bank Nifty Call Options Data

According to the monthly options data, the 60,000 strike holds the maximum Call open interest, with 16.07 lakh contracts. This can act as a key resistance level for the index in the short term. It was followed by the 61,000 strike (3.89 lakh contracts) and the 59,000 strike (3.06 lakh contracts).

Maximum Call writing was observed at the 60,000 strike (with the addition of 1.24 lakh contracts), followed by the 61,000 strike (1.02 lakh contracts) and 59,100 strike (54,900 contracts). The maximum Call unwinding was seen at the 58,500 strike, which shed 8,580 contracts, followed by the 58,900 and 58,600 strikes which shed 3,030 and 2,490 contracts, respectively.



6) Bank Nifty Put Options Data

On the Put side, the maximum Put open interest was seen at the 60,000 strike (with 13.49 lakh contracts), which can act as a key level for the index. This was followed by the 58,000 strike (6.29 lakh contracts) and the 59,000 strike (4.42 lakh contracts).

The maximum Put writing was placed at the 58,500 strike (which added 1.26 lakh contracts), followed by the 58,000 strike (91,650 contracts) and the 59,000 strike (82,080 contracts). There was hardly any Put unwinding seen in the 57,250-61,000 strike band.



7) Funds Flow (Rs crore)



8) Put-Call Ratio

The Nifty Put-Call ratio (PCR), which indicates the mood of the market, jumped to 1.02 on January 27, compared to 0.7 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 fear index, India VIX, jumped to 16.06 intraday but managed to cool off and settle at 14.45, up 1.83 percent, signalling continued discomfort for bulls.



10) Long Build-up (10 Stocks)

A long build-up was seen in 10 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.



11) Long Unwinding (48 Stocks)

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



12) Short Build-up (9 Stocks)

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



13) Short-Covering (145 Stocks)

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



14) High Delivery Trades, and High Rollovers

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.



Here are the stocks which saw the highest rollovers on expiry day.



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: Nil

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

Stocks removed from F&amp;amp;O ban: Sammaan Capital

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 suggests Nifty likely to trade in 25,000–25,500 range in short term, Sustainability of above 200 DEMA crucial for further uptrend, Consolidation likely to continue, with immediate support at 25,000–24,900

* Weekly options data suggests Nifty likely to trade in 25,000–25,500 range in short term
* Sustainability of above 200 DEMA crucial for further uptrend
* Consolidation likely to continue, with immediate support at 25,000–24,900

shorts/business/technical-view-nifty-rebounds-but-sustainability-above-200-dema-key-for-further-upside-bank-nifty-claws-back-above-59-000-despite-rising-vix

* Weekly options data suggests Nifty likely to trade in 25,000–25,500 range in short term
* Sustainability of above 200 DEMA crucial for further uptrend
* Consolidation likely to continue, with immediate support at 25,000–24,900

The Nifty 50 saw a strong rebound after taking support at the 25,000–24,900 zone and climbed above the 200-day EMA (Exponential Moving Average), rising half a percent on January 27. However, the sustainability of this rally above the 200 DEMA (25,160) is important for a further uptrend toward the 25,350–25,450 zone. Until then, consolidation is likely to continue, with immediate support at the 25,000–24,900 levels, as technical and momentum indicators remain weak amid a rising VIX, according to experts.

After opening flat, the Nifty 50 remained range-bound and volatile throughout the session before closing at 25,175, up 127 points (0.51 percent). The benchmark index formed a bullish candle with upper and lower shadows on the daily charts amid significantly higher volumes, indicating some positive trend along with volatility.

The index is still trading well below all other key moving averages (except the 200-day EMA), with short- and medium-term moving averages trending downward. The RSI inclined upward to 34.29 but remains below the signal line and near the oversold zone, which raises the possibility of a short-term pullback. The MACD is sustained below the zero and reference lines. The Stochastic RSI maintained a bullish crossover in the oversold zone. All this indicates cautious optimism.

“The markets saw a strong rebound; however, the index is not out of the woods yet, and a decisive move above 25,400 is crucial to negate the prevailing bearish setup,” said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking.

He expects the Nifty to oscillate within the broader range of 25,000–25,400 levels.

Meanwhile, India VIX cooled off sharply from its intraday highs of 16.05, but it remained in an uptrend, which continues to be a concern. It rose 1.83 percent to 14.45, sustaining well above all key moving averages.

Weekly options data suggested that the index is likely to trade in the 25,000–25,500 range in the short term.

The maximum Call open interest was seen at the 25,500 strike, followed by the 25,000 and 25,200 strikes, with maximum Call writing at the 25,000, 25,200, and 25,500 strikes. Meanwhile, the 25,000 strike holds the maximum Put open interest, followed by the 25,100 and 25,200 strikes, with maximum Put writing at the 25,000, 25,100, and 25,200 strikes.

Bank Nifty

The Bank Nifty climbed above the 59,000 zone and surged 732 points (1.25 percent) to 59,205, forming a long bullish candle on the daily timeframe, indicating strong buying interest. However, it could not close above the previous day’s high. The index outperformed the benchmark Nifty 50 and closed above the 50-day EMA but could not sustain above short-term moving averages.

The RSI rose to 48.51 but remained below the signal line. The MACD also stayed below the reference line and the zero line. All this indicates continued caution.

“The index found support near the 58,100 zone and witnessed a sharp follow-up rebound after the previous selling session, highlighting demand at lower levels. Volatility is expected to remain elevated in the coming sessions due to the Union Budget event,” said Vatsal Bhuva, Technical Analyst at LKP Securities.

According to him, the 20-day moving average and the 59,500 zone will be crucial; a sustained close above these levels could decide the next directional move. Support is placed at 58,800, while resistance stands at 59,500.

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: Nifty rebounds but sustainability above 200 DEMA key for further upside; Bank Nifty claws back above 59,000 despite rising VIX

The Nifty 50 saw a strong rebound after taking support at the 25,000–24,900 zone and climbed above the 200-day EMA (Exponential Moving Average), rising half a percent on January 27. However, the sustainability of this rally above the 200 DEMA (25,160) is important for a further uptrend toward the 25,350–25,450 zone. Until then, consolidation is likely to continue, with immediate support at the 25,000–24,900 levels, as technical and momentum indicators remain weak amid a rising VIX, according to experts.

After opening flat, the Nifty 50 remained range-bound and volatile throughout the session before closing at 25,175, up 127 points (0.51 percent). The benchmark index formed a bullish candle with upper and lower shadows on the daily charts amid significantly higher volumes, indicating some positive trend along with volatility.

The index is still trading well below all other key moving averages (except the 200-day EMA), with short- and medium-term moving averages trending downward. The RSI inclined upward to 34.29 but remains below the signal line and near the oversold zone, which raises the possibility of a short-term pullback. The MACD is sustained below the zero and reference lines. The Stochastic RSI maintained a bullish crossover in the oversold zone. All this indicates cautious optimism.

“The markets saw a strong rebound; however, the index is not out of the woods yet, and a decisive move above 25,400 is crucial to negate the prevailing bearish setup,” said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking.

He expects the Nifty to oscillate within the broader range of 25,000–25,400 levels.

Meanwhile, India VIX cooled off sharply from its intraday highs of 16.05, but it remained in an uptrend, which continues to be a concern. It rose 1.83 percent to 14.45, sustaining well above all key moving averages.

Weekly options data suggested that the index is likely to trade in the 25,000–25,500 range in the short term.

The maximum Call open interest was seen at the 25,500 strike, followed by the 25,000 and 25,200 strikes, with maximum Call writing at the 25,000, 25,200, and 25,500 strikes. Meanwhile, the 25,000 strike holds the maximum Put open interest, followed by the 25,100 and 25,200 strikes, with maximum Put writing at the 25,000, 25,100, and 25,200 strikes.

Bank Nifty

The Bank Nifty climbed above the 59,000 zone and surged 732 points (1.25 percent) to 59,205, forming a long bullish candle on the daily timeframe, indicating strong buying interest. However, it could not close above the previous day’s high. The index outperformed the benchmark Nifty 50 and closed above the 50-day EMA but could not sustain above short-term moving averages.

The RSI rose to 48.51 but remained below the signal line. The MACD also stayed below the reference line and the zero line. All this indicates continued caution.

“The index found support near the 58,100 zone and witnessed a sharp follow-up rebound after the previous selling session, highlighting demand at lower levels. Volatility is expected to remain elevated in the coming sessions due to the Union Budget event,” said Vatsal Bhuva, Technical Analyst at LKP Securities.

According to him, the 20-day moving average and the 59,500 zone will be crucial; a sustained close above these levels could decide the next directional move. Support is placed at 58,800, while resistance stands at 59,500.

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 rose 319.78 points, Nifty up 126.75 points in volatile session, Metal, financial, IT, and oil & gas stocks led gains; metal index up 3 percent, Kotak Mahindra Bank fell 2% after Q3 miss; Axis Bank jumped 5% post Q3 results

* Sensex rose 319.78 points, Nifty up 126.75 points in volatile session
* Metal, financial, IT, and oil & gas stocks led gains; metal index up 3 percent
* Kotak Mahindra Bank fell 2% after Q3 miss; Axis Bank jumped 5% post Q3 results

Indian equity indices rebounded on January 27, led by metal, financial, IT, and oil & gas stocks, with Sensex up 319.78 points and Nifty up 126.75. Market sentiment improved after the India-EU trade agreement; metals rose 3%, while auto and FMCG lagged.

shorts/business/taking-stock-sensex-jumps-320-pts-nifty-near-25-200-led-by-metal-financial-stocks

* Sensex rose 319.78 points, Nifty up 126.75 points in volatile session
* Metal, financial, IT, and oil & gas stocks led gains; metal index up 3 percent
* Kotak Mahindra Bank fell 2% after Q3 miss; Axis Bank jumped 5% post Q3 results

Indian equity benchmark indices ended higher on January 27, recouping part of the losses from the previous session in a highly volatile trade, led by metal, financial, IT and oil &amp; gas stocks. Also, the market sentiment received a modest lift following India–European Union trade agreement.

The market began the session on a subdued note and traded range-bound for most of the day, with late buying helping the Nifty close near day's high.

At close, the Sensex was up 319.78 points or 0.39 percent at 81,857.48, and the Nifty was up 126.75 points or 0.51 percent at 25,175.40.

The broader indices performed inline the benchmarks, with Nifty midcap and smallcap indices rising 0.5% each.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/gems-and-jewellery-sector-eyes-duty-cuts-gst-relief-in-union-budget-2026-27-13791261.html">Gems and jewellery sector eyes duty cuts, GST relief in Union Budget 2026-27</a>

Biggest Nifty gainers were Adani Enterprises, Axis Bank, JSW Steel, Adani Ports, Grasim Industries, while losers included M&amp;M, Kotak Mahindra Bank, Asian Paints, Bajaj Finserv and Eternal.

Except auto, FMCG, media and consumer durables, all other sectoral indices ended in the green with metal up 3%.

Also Read - <a href="https://www.moneycontrol.com/news/business/economy/economists-see-fiscal-consolidation-on-track-as-deficit-expected-at-4-2-debt-at-55-2-in-fy27-mc-poll-13790868.html">Economists see fiscal consolidation on track as deficit expected at 4.2%, debt at 55.2% in FY27: MC Poll</a>

In stock specifics, Kotak Mahindra Bank shares tumbled 2% after Q3 results miss estimates, UltraTech Cement shares jumped 2% on better Q3 results, Axis Bank share price added 5% post Q3 earnings, Godrej Consumer Products shares slipped 5% post Q3 profit slips, Hindustan Zinc shares hits 52-week high after silver hovers near all-time highs, JSW Energy shares slipped 7% despite Q3 profit surges 150%.

RailTel Corporation of India shares rose nearly 2% on order win worth Rs 27.04 crore, Marine Electricals share price rose 7% on winning multiple orders worth Rs 284 crore, Urban Company shares down more than 2% on weak Q3 results, Hindustan Copper shares added 5% on emerging preferred bidder for mining lease in Madhya Pradesh.

Also Read - <a href="https://www.moneycontrol.com/news/india/india-eu-s-landmark-defence-partnership-what-it-s-all-about-13791980.html">India, EU’s landmark defence partnership: What it’s all about</a>

More than 640 stocks touched their 52-week lows, including Syngene International, SignatureGlobal, Brainbees Solution, Reliance Power, Poly Medicure, Mahanagar Gas, PCBL Chemical, Devyani International, Zee Entertainment, Dixon Technologies, Sapphire Foods, Praj Industries, Indegene, Cera Sanitary, Aditya Birla Lifestyle Brands, Tejas Networks, Newgen Software, Olectra Greentech, Godrej Properties, 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 January 28

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

On monthly expiry, Nifty experienced a choppy session for the major part of the day before last hour short covering surge. The 25,190–25,200 zone, which acted as a support in the previous session, acted as a strong resistance for the major part of the session before Index managed to close higher. On the daily chart, Nifty formed a sizeable bullish candle with long lower wicks, indicating buying interest at lower levels. Notably, the index has managed to close above the 200-day EMA zone.

Going ahead, the key support for Nifty is placed in the 24,950–24,900 zone, which coincides with the upward-sloping trendline, drawn by connecting the swing lows of 24,338 (8th August) and 24,405 (29th August). A decisive breakdown below this zone could result in Nifty extending its weakness towards 24,700, followed by 24,500 in the near term. On the upside, the 25,250–25,300 zone is expected to act as a strong resistance area, limiting any pullback attempts.

Rupak De, Senior Technical Analyst at LKP Securities

The NSE monthly expiry day proved to be a roller-coaster session for the market, as the Nifty witnessed a 300-point swing during the day. On closing, the index ended above the 200-DMA; however, a follow-up move is required before changing the bearish view on the Nifty.

Support remains at 24,900, and a slip below this level could unlock fresh selling pressure from the bears. On the higher end, 25,500 continues to be a crucial resistance zone. Until the Nifty decisively breaks above 25,500, a sell-on-rise strategy may continue to work in the market.

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: Sensex jumps 320 pts, Nifty near 25,200, led by metal, financial stocks

Indian equity benchmark indices ended higher on January 27, recouping part of the losses from the previous session in a highly volatile trade, led by metal, financial, IT and oil &amp;amp; gas stocks. Also, the market sentiment received a modest lift following India–European Union trade agreement.

The market began the session on a subdued note and traded range-bound for most of the day, with late buying helping the Nifty close near day's high.

At close, the Sensex was up 319.78 points or 0.39 percent at 81,857.48, and the Nifty was up 126.75 points or 0.51 percent at 25,175.40.

The broader indices performed inline the benchmarks, with Nifty midcap and smallcap indices rising 0.5% each.

Also Read: Gems and jewellery sector eyes duty cuts, GST relief in Union Budget 2026-27

Biggest Nifty gainers were Adani Enterprises, Axis Bank, JSW Steel, Adani Ports, Grasim Industries, while losers included M&amp;amp;M, Kotak Mahindra Bank, Asian Paints, Bajaj Finserv and Eternal.

Except auto, FMCG, media and consumer durables, all other sectoral indices ended in the green with metal up 3%.

Also Read - Economists see fiscal consolidation on track as deficit expected at 4.2%, debt at 55.2% in FY27: MC Poll

In stock specifics, Kotak Mahindra Bank shares tumbled 2% after Q3 results miss estimates, UltraTech Cement shares jumped 2% on better Q3 results, Axis Bank share price added 5% post Q3 earnings, Godrej Consumer Products shares slipped 5% post Q3 profit slips, Hindustan Zinc shares hits 52-week high after silver hovers near all-time highs, JSW Energy shares slipped 7% despite Q3 profit surges 150%.

RailTel Corporation of India shares rose nearly 2% on order win worth Rs 27.04 crore, Marine Electricals share price rose 7% on winning multiple orders worth Rs 284 crore, Urban Company shares down more than 2% on weak Q3 results, Hindustan Copper shares added 5% on emerging preferred bidder for mining lease in Madhya Pradesh.

Also Read - India, EU’s landmark defence partnership: What it’s all about

More than 640 stocks touched their 52-week lows, including Syngene International, SignatureGlobal, Brainbees Solution, Reliance Power, Poly Medicure, Mahanagar Gas, PCBL Chemical, Devyani International, Zee Entertainment, Dixon Technologies, Sapphire Foods, Praj Industries, Indegene, Cera Sanitary, Aditya Birla Lifestyle Brands, Tejas Networks, Newgen Software, Olectra Greentech, Godrej Properties, among others. Click to View More

Outlook for January 28

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

On monthly expiry, Nifty experienced a choppy session for the major part of the day before last hour short covering surge. The 25,190–25,200 zone, which acted as a support in the previous session, acted as a strong resistance for the major part of the session before Index managed to close higher. On the daily chart, Nifty formed a sizeable bullish candle with long lower wicks, indicating buying interest at lower levels. Notably, the index has managed to close above the 200-day EMA zone.

Going ahead, the key support for Nifty is placed in the 24,950–24,900 zone, which coincides with the upward-sloping trendline, drawn by connecting the swing lows of 24,338 (8th August) and 24,405 (29th August). A decisive breakdown below this zone could result in Nifty extending its weakness towards 24,700, followed by 24,500 in the near term. On the upside, the 25,250–25,300 zone is expected to act as a strong resistance area, limiting any pullback attempts.

Rupak De, Senior Technical Analyst at LKP Securities

The NSE monthly expiry day proved to be a roller-coaster session for the market, as the Nifty witnessed a 300-point swing during the day. On closing, the index ended above the 200-DMA; however, a follow-up move is required before changing the bearish view on the Nifty.

Support remains at 24,900, and a slip below this level could unlock fresh selling pressure from the bears. On the higher end, 25,500 continues to be a crucial resistance zone. Until the Nifty decisively breaks above 25,500, a sell-on-rise strategy may continue to work in the market.

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.

Market Swings Between Gains & Losses Even As India-EU Finalise Landmark FTA | Closing Bell Live

Market Swings Between Gains &amp; Losses Even As India-EU Finalise Landmark FTA | Closing Bell Live

2 out of 5 years Nifty OilGas has given negative returns in January.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	11,448.08	11,519.62	11,624.98	11,342.72	11,271.18	11,165.82	11,094.28
Fibonacci	11,410.29	11,452.04	11,519.62	11,342.72	11,275.14	11,233.39	11,165.82
Camarilla	11,392.77	11,408.98	11,425.20	11,342.72	11,360.33	11,344.12	11,327.90

INDEX CONTRIBUTION - Nifty Oil & Gas

Net Contribution

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