NIFTY Smallcap 100

Nifty 50 index likely to remain in 25,600-25,900 range, Below 25,600, 25,450 is the level to watch, Above 25,900, upward journey toward 26,000 can be seen, Above 59,500 on a closing basis, Bank Nifty may move beyond 59,800–60,000

* Nifty 50 index likely to remain in 25,600-25,900 range
* Below 25,600, 25,450 is the level to watch
* Above 25,900, upward journey toward 26,000 can be seen
* Above 59,500 on a closing basis, Bank Nifty may move beyond 59,800–60,000

shorts/business/trading-plan-can-nifty-50-decisively-break-the-25-600-25-900-range-bank-nifty-sustain-above-59-500

* Nifty 50 index likely to remain in 25,600-25,900 range
* Below 25,600, 25,450 is the level to watch
* Above 25,900, upward journey toward 26,000 can be seen
* Above 59,500 on a closing basis, Bank Nifty may move beyond 59,800–60,000

The Nifty 50 continued to trade in a tight range of 300 points on a closing basis for the last four sessions, with mixed-to-bearish signals from technical and momentum indicators. According to experts, the index needs to break either 25,600 (around the 100-day EMA) for a downside move toward 25,450 (immediate key support) or 25,900 (50-day EMA) for an upward journey toward 26,000, as above it the 26,200–26,300 zone can be a possible target. Meanwhile, as long as the Bank Nifty holds 59,500 on a closing basis, the chances of a move beyond 59,800–60,000 are high; however, below it, 59,300–59,000 are the levels to watch.

On January 14, the Nifty 50 slipped 67 points to 25,666, while the Bank Nifty rose 1.35 points to 59,580. Market breadth was marginally in favour of bears. A total of 1,498 shares declined against 1,385 advancing shares on the NSE.

Nifty Outlook and Strategy

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

The benchmark index Nifty marked a fresh all-time high of 26,373 on January 5, but since then it has entered a corrective phase. This decline found support near the 100-day EMA, a crucial technical level that has held firm over the past four sessions. Currently, the index is oscillating around this zone, reflecting a phase of consolidation. The weekly chart suggests indecision among market participants, as bulls and bears struggle for dominance.

Adding to this picture of uncertainty, Wednesday’s session saw the index move within a narrow range of 188 points, the tightest range in the last four trading days. This price action resulted in the formation of an NR4 (Narrow Range 4) pattern on the daily chart, often considered a precursor to a potential breakout in either direction. Technically, the 20-day EMA continues to slope downward, while the 50-day and 100-day EMAs remain flat, indicating a lack of clear trend strength. Momentum indicators echo this indecisiveness, with the daily RSI fluctuating between 38.55 and 42.84 for four consecutive sessions, suggesting muted momentum and a wait-and-watch approach by traders.

Going forward, the Nifty is approaching a critical juncture where price action could dictate the next directional move. On the downside, the 25,500–25,450 zone will act as a key support area, and any breach below this level could accelerate selling pressure. Conversely, on the upside, the 50-day EMA zone of 25,880–25,900 will serve as an immediate hurdle for the index. A decisive breakout on either side of this range is likely to pave the way for a trending move, setting the tone for the short-term market trajectory. Traders should closely monitor these levels, as they hold the potential to trigger significant volatility.

Key Resistance: 25,880, 25,900

Key Support: 25,500, 25,450

Strategy: Buy Nifty Futures around 25,670–25,750, with a stop-loss of 25,600, targeting 25,960.

Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking

The Nifty index remained under selling pressure for the second straight session and formed a doji-like candle on the daily chart, signalling indecision among market participants. This price action suggests that the index may continue to trade in a range and extend the consolidation in the short term.

On the downside, immediate support is placed near the 100-DMA at 25,560, followed by the 25,470 level. On the upside, the 21-DMA around 25,990 continues to act as a strong resistance, and a decisive breakout above this zone is essential for any sustained short-term upside momentum.

From an indicator perspective, the MACD has registered a bearish crossover on both daily and weekly charts, pointing to underlying weakness despite the possibility of a brief pullback. The broader trend remains fragile as long as the index stays below the 26,000 mark. Additionally, India VIX has been trending higher, hinting at a potential rise in near-term volatility, which could pose a mild headwind for the market.

Given the overall technical structure, a decisive breakdown below 25,650 in Nifty Futures could accelerate selling pressure and lead to a corrective decline toward the 25,400 level. Therefore, a sell-on-breakdown strategy is recommended below 25,650 in Nifty Futures.

(Spot levels)
Key Resistance: 25,790, 25,990

Key Support: 25,560, 25,470

Strategy: Sell Nifty Futures below 25,650, with a stop-loss of 25,780, targeting 25,400.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty remained volatile during the day and traded with a bearish bias for most of the session on Wednesday. On the hourly chart, the index failed to move above the 20 EMA, indicating a prevailing weak trend. Additionally, the bearish crossover between the 21 EMA and the 50 EMA on the hourly chart remains intact, reinforcing negative sentiment.

The daily RSI has witnessed a breakdown from an upward consolidation, confirming a meaningful shift in momentum. In the short term, sentiment is likely to remain weak, with the potential for further downside. Support is placed at 25,600, below which a deeper correction may unfold. On the higher end, resistance is placed at 25,835.

Key Resistance: 25,835, 26,000

Key Support: 25,600, 25,500

Strategy: Buy Nifty 25,600 PE of January 20 expiry around Rs 75, with a stop-loss of Rs 48, targeting Rs 120.

Bank Nifty - Outlook and Positioning

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

The banking benchmark index, Bank Nifty, has been consistently outperforming the frontline indices over the past few sessions, reflecting strong sectoral momentum. Currently, the index is trading above all its crucial moving averages, signalling a well-established uptrend. In contrast, the Nifty is still positioned below its 20-day and 50-day EMA levels, highlighting relative weakness in the broader market. A key technical observation is that the Bank Nifty-to-Nifty ratio chart has surged to a 609-day high and continues to rise, underscoring the strong outperformance of banking stocks compared to the benchmark index.

Looking ahead, the zone of 60,000–60,100 will act as a critical resistance for Bank Nifty. A decisive and sustained breakout above 60,100 could trigger a sharp upside move, potentially driving the index towards 60,600, followed by 61,000 in the short term. On the downside, immediate support is placed in the 59,300–59,200 zone, which will be closely monitored by traders for any signs of weakness.

Key Resistance: 60,000, 60,100

Key Support: 59,300, 59,200

Strategy: Buy Bank Nifty Futures around 59,700–59,800, with a stop-loss of 59,400, targeting 60,500.

Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking

Bank Nifty is showing resilience and witnessing outperformance over the Nifty index. It is also sustaining above the 50-DMA and 21-DMA placed at 59,150 and 59,420 levels, respectively, which are acting as strong support.

A sustained move above 60,000 could trigger short covering and pave the way for further upside toward the 60,500 zone.

Hence, based on this rationale, if Bank Nifty breaks the resistance of 60,010 in the futures, it can be bought with a stop-loss at 59,710, with the potential to move toward 60,450.

(Spot levels)
Key Resistance: 59,800, 60,100

Key Support: 59,400, 59,150

Strategy: Buy Bank Nifty Futures above 60,010, with a stop-loss of 59,710, targeting 60,450.

Rupak De, Senior Technical Analyst at LKP Securities

The Bank Nifty managed to stay afloat above the support at 59,500. On the daily chart, the index found support above the falling channel, leading to a recovery over the past few days. At the moment, the near-term trend is not clear.

On the higher end, 59,800 may act as an immediate resistance; a decisive breakout above this level could trigger a smart rally in the index. Subsequently, it may move towards 60,500 over the near to short term. On the lower end, support is placed at 59,500, below which the index may slip back into a consolidation phase.

Key Resistance: 59,800, 60,500

Key Support: 59,500, 59,000

Strategy: Buy Bank Nifty 59,500 PE of January expiry above Rs 370, with a stop-loss of Rs 300, targeting Rs 550.

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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Trading Plan: Can Nifty 50 decisively break the 25,600-25,900 range, Bank Nifty sustain above 59,500?

The Nifty 50 continued to trade in a tight range of 300 points on a closing basis for the last four sessions, with mixed-to-bearish signals from technical and momentum indicators. According to experts, the index needs to break either 25,600 (around the 100-day EMA) for a downside move toward 25,450 (immediate key support) or 25,900 (50-day EMA) for an upward journey toward 26,000, as above it the 26,200–26,300 zone can be a possible target. Meanwhile, as long as the Bank Nifty holds 59,500 on a closing basis, the chances of a move beyond 59,800–60,000 are high; however, below it, 59,300–59,000 are the levels to watch.

On January 14, the Nifty 50 slipped 67 points to 25,666, while the Bank Nifty rose 1.35 points to 59,580. Market breadth was marginally in favour of bears. A total of 1,498 shares declined against 1,385 advancing shares on the NSE.

Nifty Outlook and Strategy

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

The benchmark index Nifty marked a fresh all-time high of 26,373 on January 5, but since then it has entered a corrective phase. This decline found support near the 100-day EMA, a crucial technical level that has held firm over the past four sessions. Currently, the index is oscillating around this zone, reflecting a phase of consolidation. The weekly chart suggests indecision among market participants, as bulls and bears struggle for dominance.

Adding to this picture of uncertainty, Wednesday’s session saw the index move within a narrow range of 188 points, the tightest range in the last four trading days. This price action resulted in the formation of an NR4 (Narrow Range 4) pattern on the daily chart, often considered a precursor to a potential breakout in either direction. Technically, the 20-day EMA continues to slope downward, while the 50-day and 100-day EMAs remain flat, indicating a lack of clear trend strength. Momentum indicators echo this indecisiveness, with the daily RSI fluctuating between 38.55 and 42.84 for four consecutive sessions, suggesting muted momentum and a wait-and-watch approach by traders.

Going forward, the Nifty is approaching a critical juncture where price action could dictate the next directional move. On the downside, the 25,500–25,450 zone will act as a key support area, and any breach below this level could accelerate selling pressure. Conversely, on the upside, the 50-day EMA zone of 25,880–25,900 will serve as an immediate hurdle for the index. A decisive breakout on either side of this range is likely to pave the way for a trending move, setting the tone for the short-term market trajectory. Traders should closely monitor these levels, as they hold the potential to trigger significant volatility.

Key Resistance: 25,880, 25,900

Key Support: 25,500, 25,450

Strategy: Buy Nifty Futures around 25,670–25,750, with a stop-loss of 25,600, targeting 25,960.

Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking

The Nifty index remained under selling pressure for the second straight session and formed a doji-like candle on the daily chart, signalling indecision among market participants. This price action suggests that the index may continue to trade in a range and extend the consolidation in the short term.

On the downside, immediate support is placed near the 100-DMA at 25,560, followed by the 25,470 level. On the upside, the 21-DMA around 25,990 continues to act as a strong resistance, and a decisive breakout above this zone is essential for any sustained short-term upside momentum.

From an indicator perspective, the MACD has registered a bearish crossover on both daily and weekly charts, pointing to underlying weakness despite the possibility of a brief pullback. The broader trend remains fragile as long as the index stays below the 26,000 mark. Additionally, India VIX has been trending higher, hinting at a potential rise in near-term volatility, which could pose a mild headwind for the market.

Given the overall technical structure, a decisive breakdown below 25,650 in Nifty Futures could accelerate selling pressure and lead to a corrective decline toward the 25,400 level. Therefore, a sell-on-breakdown strategy is recommended below 25,650 in Nifty Futures.

(Spot levels)
Key Resistance: 25,790, 25,990

Key Support: 25,560, 25,470

Strategy: Sell Nifty Futures below 25,650, with a stop-loss of 25,780, targeting 25,400.

Rupak De, Senior Technical Analyst at LKP Securities

The Nifty remained volatile during the day and traded with a bearish bias for most of the session on Wednesday. On the hourly chart, the index failed to move above the 20 EMA, indicating a prevailing weak trend. Additionally, the bearish crossover between the 21 EMA and the 50 EMA on the hourly chart remains intact, reinforcing negative sentiment.

The daily RSI has witnessed a breakdown from an upward consolidation, confirming a meaningful shift in momentum. In the short term, sentiment is likely to remain weak, with the potential for further downside. Support is placed at 25,600, below which a deeper correction may unfold. On the higher end, resistance is placed at 25,835.

Key Resistance: 25,835, 26,000

Key Support: 25,600, 25,500

Strategy: Buy Nifty 25,600 PE of January 20 expiry around Rs 75, with a stop-loss of Rs 48, targeting Rs 120.

Bank Nifty - Outlook and Positioning

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

The banking benchmark index, Bank Nifty, has been consistently outperforming the frontline indices over the past few sessions, reflecting strong sectoral momentum. Currently, the index is trading above all its crucial moving averages, signalling a well-established uptrend. In contrast, the Nifty is still positioned below its 20-day and 50-day EMA levels, highlighting relative weakness in the broader market. A key technical observation is that the Bank Nifty-to-Nifty ratio chart has surged to a 609-day high and continues to rise, underscoring the strong outperformance of banking stocks compared to the benchmark index.

Looking ahead, the zone of 60,000–60,100 will act as a critical resistance for Bank Nifty. A decisive and sustained breakout above 60,100 could trigger a sharp upside move, potentially driving the index towards 60,600, followed by 61,000 in the short term. On the downside, immediate support is placed in the 59,300–59,200 zone, which will be closely monitored by traders for any signs of weakness.

Key Resistance: 60,000, 60,100

Key Support: 59,300, 59,200

Strategy: Buy Bank Nifty Futures around 59,700–59,800, with a stop-loss of 59,400, targeting 60,500.

Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking

Bank Nifty is showing resilience and witnessing outperformance over the Nifty index. It is also sustaining above the 50-DMA and 21-DMA placed at 59,150 and 59,420 levels, respectively, which are acting as strong support.

A sustained move above 60,000 could trigger short covering and pave the way for further upside toward the 60,500 zone.

Hence, based on this rationale, if Bank Nifty breaks the resistance of 60,010 in the futures, it can be bought with a stop-loss at 59,710, with the potential to move toward 60,450.

(Spot levels)
Key Resistance: 59,800, 60,100

Key Support: 59,400, 59,150

Strategy: Buy Bank Nifty Futures above 60,010, with a stop-loss of 59,710, targeting 60,450.

Rupak De, Senior Technical Analyst at LKP Securities

The Bank Nifty managed to stay afloat above the support at 59,500. On the daily chart, the index found support above the falling channel, leading to a recovery over the past few days. At the moment, the near-term trend is not clear.

On the higher end, 59,800 may act as an immediate resistance; a decisive breakout above this level could trigger a smart rally in the index. Subsequently, it may move towards 60,500 over the near to short term. On the lower end, support is placed at 59,500, below which the index may slip back into a consolidation phase.

Key Resistance: 59,800, 60,500

Key Support: 59,500, 59,000

Strategy: Buy Bank Nifty 59,500 PE of January expiry above Rs 370, with a stop-loss of Rs 300, targeting Rs 550.

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 signals caution for bulls, Nifty to get firm direction only after it breaks 25,600-25,900 range on either side, .Below 25,600, 25,450 level will be crucial to watch, Above 25,900, a move towards 26,000–26,100 cannot be ruled out

* Technical and momentum indicators signals caution for bulls
* Nifty to get firm direction only after it breaks 25,600-25,900 range on either side
*.Below 25,600, 25,450 level will be crucial to watch
* Above 25,900, a move towards 26,000–26,100 cannot be ruled out

shorts/business/trade-setup-for-january-16-top-15-things-to-know-before-the-opening-bell-2

* Technical and momentum indicators signals caution for bulls
* Nifty to get firm direction only after it breaks 25,600-25,900 range on either side
*.Below 25,600, 25,450 level will be crucial to watch
* Above 25,900, a move towards 26,000–26,100 cannot be ruled out

The market remained range-bound at 25,600–25,900 (i.e., within the 100-day EMA and 50-day EMA) for the fourth straight session, with the Nifty 50 closing one-third of a percent lower on January 14. Technical and momentum indicators, along with an elevated VIX, continued to signal caution for bulls as the market awaits further corporate earnings. The index is expected to get a firm direction only after it convincingly breaks the above-mentioned range on either side. Below 25,600, the 25,450 level will be crucial to watch; however, on the higher side, above 25,900, a move towards 26,000–26,100 cannot be ruled out, according to experts.

<img class="alignnone size-full wp-image-13774517 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115142312_Image415012026.jpg" alt="Image415012026" 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> (25,666)

Resistance based on pivot points: 25,759, 25,803, and 25,875

Support based on pivot points: 25,615, 25,571, and 25,499

Special Formation: The Nifty 50 formed a small-bodied green candle with a long upper shadow on the daily charts, accompanied by above-average volumes, indicating selling pressure at higher levels amid range-bound trading. Additionally, there was a tweezer bottom–like pattern formation (not a classical one), which is a bullish reversal pattern but requires confirmation in the following session. The index continued to trade below short- and medium-term moving averages, with the 10-day EMA remaining below the 20-day EMA, and it is on the verge of breaking down below the 50-day EMA. The RSI dropped to 39.26, while the MACD remained below the signal line, with further weakness visible in the histogram. All these indicators suggest continued weakness and caution for bulls.

2) Key Levels For The <a href="https://www.moneycontrol.com/indian-indices/nifty-bank-23.html" target="_blank">Bank Nifty</a> (59,580)

Resistance based on pivot points: 59,747, 59,859, and 60,039

Support based on pivot points: 59,387, 59,275, and 59,095

Resistance based on Fibonacci retracement: 59,839, 60,103

Support based on Fibonacci retracement: 59,080, 58,712

Special Formation: The Bank Nifty closed flat and formed a bullish candle with an upper shadow on the daily charts, accompanied by above-average volumes, while sustaining above the 20-day EMA, the midline of the Bollinger Bands, and key support trendlines, indicating a positive bias despite pressure at higher levels. The index continued its higher high–higher low formation for another session. The RSI inched up slightly to 53.55, though it remained below the reference line. The MACD continued below the signal line with further weakness in the histogram; however, the Stochastic RSI turned bullish. All these indicators point towards a cautiously positive bias for the Bank Nifty.

<img class="alignnone size-full wp-image-13774518 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115142404_Image515012026.jpg" alt="Image515012026" 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 maximum Call open interest was seen at the 26,000 strike (with 1.27 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 25,800 strike (86.57 lakh contracts) and 26,500 strike (79.19 lakh contracts).

Maximum Call writing was observed at the 26,000 strike, which saw an addition of 56.37 lakh contracts, followed by the 26,400 and 26,500 strikes, which added 36.04 lakh and 33.92 lakh contracts, respectively. There was hardly any Call unwinding seen in the 25,000-26,500 strike band.

<img class="alignnone size-full wp-image-13774519 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115142439_Image815012026.jpg" alt="Image815012026" width="1252" height="342" />

4) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Nifty Put Options Data</a>

On the Put side, the 25,000 strike holds the maximum Put open interest (with 77.05 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 25,500 strike (47.86 lakh contracts) and the 25,600 strike (45.69 lakh contracts).

The maximum Put writing was placed at the 25,000 strike, which saw an addition of 37.34 lakh contracts, followed by the 25,600 and 25,300 strikes, which added 17.1 lakh and 16.27 lakh contracts, respectively. The maximum Put unwinding was seen at the 25,950 strike, which shed 66,560 contracts, followed by the 26,200 and 26,000 strikes, which shed 64,480 and 36,075 contracts, respectively.

<img class="alignnone size-full wp-image-13774520 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115142503_Image915012026.jpg" alt="Image915012026" width="1261" height="343" />

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 maximum Call open interest was seen at the 59,500 strike, with 15.83 lakh contracts. This can act as a key level for the index in the short term. It was followed by the 60,000 strike (14.84 lakh contracts) and the 61,000 strike (7.99 lakh contracts).

Maximum Call writing was observed at the 60,700 strike (with the addition of 1.6 lakh contracts), followed by the 60,100 strike (1.21 lakh contracts) and 61,000 strike (16,410 contracts). The maximum Call unwinding was seen at the 60,000 strike, which shed 1.06 lakh contracts, followed by the 59,500 and 59,000 strikes which shed 33,870 and 26,280 contracts, respectively.

<img class="alignnone size-full wp-image-13774523 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115142602_Image1015012026.jpg" alt="Image1015012026" width="1259" 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 59,500 strike holds the maximum Put open interest (with 19.16 lakh contracts), which can act as a key support level for the index. This was followed by the 59,000 strike (9.84 lakh contracts) and the 60,000 strike (8.1 lakh contracts).

The maximum Put writing was placed at the 59,100 strike (which added 1.27 lakh contracts), followed by the 59,800 strike (87,270 contracts) and the 59,700 strike (56,550 contracts). The maximum Put unwinding was seen at the 58,000 strike, which shed 56,820 contracts, followed by the 59,200 and 59,000 strikes, which shed 28,080 and 23,670 contracts, respectively.

<img class="alignnone size-full wp-image-13774524 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115142625_Image1115012026.jpg" alt="Image1115012026" width="1258" height="343" />

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-13774670 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115190632_Image3115012026.jpg" alt="Image3115012026" 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 0.81 on January 14, compared to 0.86 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-13774528 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115142711_Image715012026.jpg" alt="Image715012026" width="1237" height="511" />

9) <a href="https://www.moneycontrol.com/indian-indices/india-vix-36.html" target="_blank">India VIX</a>

The fear gauge, India VIX, remained at elevated levels, holding above its 20-, 50-, and 100-day EMAs, and climbed near the 11.50 zone intraday before ending at 11.32, up 1.09 percent. This indicates continued caution for bulls until the VIX decisively falls below the 10 zone.

<img class="alignnone size-full wp-image-13774529 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115142748_Image615012026.jpg" alt="Image615012026" width="1281" height="646" />

10) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Build-up (63 Stocks)</a>

A long build-up was seen in 63 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.

<img class="alignnone size-full wp-image-13774664 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115190243_Image2615012026.jpg" alt="Image2615012026" width="700" height="700" />

11) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Long Unwinding (32 Stocks)</a>

32 stocks saw a decline in open interest (OI) along with a fall in price, indicating long unwinding.

<img class="alignnone size-full wp-image-13774665 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115190322_Image2715012026.jpg" alt="Image2715012026" width="700" height="700" />

12) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short Build-up (71 Stocks)</a>

71 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-13774666 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115190403_Image2815012026.jpg" alt="Image2815012026" width="700" height="612" />

13) <a href="https://www.moneycontrol.com/markets/fno-market-snapshot" target="_blank">Short-Covering (45 Stocks)</a>

45 stocks saw short-covering, meaning a decrease in OI, along with a price increase.

<img class="alignnone size-full wp-image-13774667 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115190437_Image2915012026.jpg" alt="Image2915012026" 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-13774668 aligncenter" src="https://images.moneycontrol.com/static-mcnews/2026/01/20260115190539_Image3015012026.jpg" alt="Image3015012026" 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: Nil

Stocks retained in F&amp;O ban: SAIL, Sammaan Capital

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 16: Top 15 things to know before the opening bell

The market remained range-bound at 25,600–25,900 (i.e., within the 100-day EMA and 50-day EMA) for the fourth straight session, with the Nifty 50 closing one-third of a percent lower on January 14. Technical and momentum indicators, along with an elevated VIX, continued to signal caution for bulls as the market awaits further corporate earnings. The index is expected to get a firm direction only after it convincingly breaks the above-mentioned range on either side. Below 25,600, the 25,450 level will be crucial to watch; however, on the higher side, above 25,900, a move towards 26,000–26,100 cannot be ruled out, according to experts.



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

1) Key Levels For The Nifty 50 (25,666)

Resistance based on pivot points: 25,759, 25,803, and 25,875

Support based on pivot points: 25,615, 25,571, and 25,499

Special Formation: The Nifty 50 formed a small-bodied green candle with a long upper shadow on the daily charts, accompanied by above-average volumes, indicating selling pressure at higher levels amid range-bound trading. Additionally, there was a tweezer bottom–like pattern formation (not a classical one), which is a bullish reversal pattern but requires confirmation in the following session. The index continued to trade below short- and medium-term moving averages, with the 10-day EMA remaining below the 20-day EMA, and it is on the verge of breaking down below the 50-day EMA. The RSI dropped to 39.26, while the MACD remained below the signal line, with further weakness visible in the histogram. All these indicators suggest continued weakness and caution for bulls.

2) Key Levels For The Bank Nifty (59,580)

Resistance based on pivot points: 59,747, 59,859, and 60,039

Support based on pivot points: 59,387, 59,275, and 59,095

Resistance based on Fibonacci retracement: 59,839, 60,103

Support based on Fibonacci retracement: 59,080, 58,712

Special Formation: The Bank Nifty closed flat and formed a bullish candle with an upper shadow on the daily charts, accompanied by above-average volumes, while sustaining above the 20-day EMA, the midline of the Bollinger Bands, and key support trendlines, indicating a positive bias despite pressure at higher levels. The index continued its higher high–higher low formation for another session. The RSI inched up slightly to 53.55, though it remained below the reference line. The MACD continued below the signal line with further weakness in the histogram; however, the Stochastic RSI turned bullish. All these indicators point towards a cautiously positive bias for the Bank Nifty.



3) Nifty Call Options Data

According to the weekly options data, the maximum Call open interest was seen at the 26,000 strike (with 1.27 crore contracts). This level can act as a key resistance level for the Nifty in the short term. It was followed by the 25,800 strike (86.57 lakh contracts) and 26,500 strike (79.19 lakh contracts).

Maximum Call writing was observed at the 26,000 strike, which saw an addition of 56.37 lakh contracts, followed by the 26,400 and 26,500 strikes, which added 36.04 lakh and 33.92 lakh contracts, respectively. There was hardly any Call unwinding seen in the 25,000-26,500 strike band.



4) Nifty Put Options Data

On the Put side, the 25,000 strike holds the maximum Put open interest (with 77.05 lakh contracts), which can act as a key support level for the Nifty in the short term. It was followed by the 25,500 strike (47.86 lakh contracts) and the 25,600 strike (45.69 lakh contracts).

The maximum Put writing was placed at the 25,000 strike, which saw an addition of 37.34 lakh contracts, followed by the 25,600 and 25,300 strikes, which added 17.1 lakh and 16.27 lakh contracts, respectively. The maximum Put unwinding was seen at the 25,950 strike, which shed 66,560 contracts, followed by the 26,200 and 26,000 strikes, which shed 64,480 and 36,075 contracts, respectively.



5) Bank Nifty Call Options Data

According to the monthly options data, the maximum Call open interest was seen at the 59,500 strike, with 15.83 lakh contracts. This can act as a key level for the index in the short term. It was followed by the 60,000 strike (14.84 lakh contracts) and the 61,000 strike (7.99 lakh contracts).

Maximum Call writing was observed at the 60,700 strike (with the addition of 1.6 lakh contracts), followed by the 60,100 strike (1.21 lakh contracts) and 61,000 strike (16,410 contracts). The maximum Call unwinding was seen at the 60,000 strike, which shed 1.06 lakh contracts, followed by the 59,500 and 59,000 strikes which shed 33,870 and 26,280 contracts, respectively.



6) Bank Nifty Put Options Data

On the Put side, the 59,500 strike holds the maximum Put open interest (with 19.16 lakh contracts), which can act as a key support level for the index. This was followed by the 59,000 strike (9.84 lakh contracts) and the 60,000 strike (8.1 lakh contracts).

The maximum Put writing was placed at the 59,100 strike (which added 1.27 lakh contracts), followed by the 59,800 strike (87,270 contracts) and the 59,700 strike (56,550 contracts). The maximum Put unwinding was seen at the 58,000 strike, which shed 56,820 contracts, followed by the 59,200 and 59,000 strikes, which shed 28,080 and 23,670 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 0.81 on January 14, compared to 0.86 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 gauge, India VIX, remained at elevated levels, holding above its 20-, 50-, and 100-day EMAs, and climbed near the 11.50 zone intraday before ending at 11.32, up 1.09 percent. This indicates continued caution for bulls until the VIX decisively falls below the 10 zone.



10) Long Build-up (63 Stocks)

A long build-up was seen in 63 stocks. An increase in open interest (OI) and price indicates a build-up of long positions.



11) Long Unwinding (32 Stocks)

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



12) Short Build-up (71 Stocks)

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



13) Short-Covering (45 Stocks)

45 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: Nil

Stocks retained in F&amp;amp;O ban: SAIL, Sammaan Capital

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.

Government expected to stick to its fiscal consolidation path despite high debt levels, Don’t expect any tweaks to capital gains tax in upcoming budget, Believe FY27 EPS growth will be in low double-digit instead of mid-teens

* Government expected to stick to its fiscal consolidation path despite high debt levels
* Don’t expect any tweaks to capital gains tax in upcoming budget
* Believe FY27 EPS growth will be in low double-digit instead of mid-teens

shorts/business/daily-voice-balancing-consumption-boost-fiscal-consolidation-capex-seen-as-core-themes-for-budget-2026-says-ambit-s-trilok-agarwal

* Government expected to stick to its fiscal consolidation path despite high debt levels
* Don’t expect any tweaks to capital gains tax in upcoming budget
* Believe FY27 EPS growth will be in low double-digit instead of mid-teens

Balancing the three C’s – consumption boost, fiscal consolidation and capex – can be seen as the core themes for the FY27 budget, said Trilok Agarwal, the fund manager – equity at Ambit Asset Management in an interview to Moneycontrol.

He believes FY27 EPS growth will be in the low double-digit instead of mid-teens, leading to expectations of earnings normalisation rather than acceleration.

Financials and consumption should see better growth next fiscal, according to him.

What could be the key considerations in the Union Budget, given tariff concerns and ongoing geopolitical tensions?

Fiscal discipline and consolidation will be a key feature with the Government expected to stick to its fiscal consolidation path despite high debt levels.

Balancing the three C’s – Consumption boost, fiscal Consolidation, and Capex – can be seen as the core themes for the FY27 budget.

Do you think the government may tweak capital gains policies in the Union Budget?

We don’t expect any tweaks to capital gains tax in the upcoming budget.

Are you confident about consumption growth in FY26 and FY27?

GST rationalisation and relief to income taxpayers will have an impact on consumption in FY26 and FY27. Other factors are improving rural demand is expected to remain stable (underpinned by a good monsoon), and urban employment appears to be bottoming out.

Given expectations of 15–16 percent earnings growth in FY27, which sectors do you see as the key drivers of this growth?

We believe FY27 EPS growth will be in the low double-digit instead of mid-teens, leading to expectations of earnings normalisation rather than acceleration. Financials and consumption should see better growth next fiscal.

Are you betting on defence stocks, and do you expect strong earnings growth in the sector?

With rising geopolitical risks across the globe, defence is no longer just a theme but a matter of national security. Growth will continue as the Government focuses on indigenisation and higher allocations. We are selectively investing in the sector.

Do you think global factors alone are responsible for the recent sharp depreciation in the rupee?

Global factors are seen as a primary driver of the anticipated depreciation. An uncertain and punitive tariff imposed by the US on India also weakened the INR.

Do you see the possibility of strong private capex over the next few years, and would you consider allocating fresh capital to capital goods?

While the Government has done the heavy lifting for years through massive public spending on infrastructure, the private sector has shown selective signs of picking up, though not yet broad-based. We think strong growth is still some time away, as utilization levels are still hovering at 74-75 percent.

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.

Daily Voice: Balancing consumption boost, fiscal consolidation, capex seen as core themes for Budget 2026, says Ambit's Trilok Agarwal

Balancing the three C’s – consumption boost, fiscal consolidation and capex – can be seen as the core themes for the FY27 budget, said Trilok Agarwal, the fund manager – equity at Ambit Asset Management in an interview to Moneycontrol.

He believes FY27 EPS growth will be in the low double-digit instead of mid-teens, leading to expectations of earnings normalisation rather than acceleration.

Financials and consumption should see better growth next fiscal, according to him.

What could be the key considerations in the Union Budget, given tariff concerns and ongoing geopolitical tensions?

Fiscal discipline and consolidation will be a key feature with the Government expected to stick to its fiscal consolidation path despite high debt levels.

Balancing the three C’s – Consumption boost, fiscal Consolidation, and Capex – can be seen as the core themes for the FY27 budget.

Do you think the government may tweak capital gains policies in the Union Budget?

We don’t expect any tweaks to capital gains tax in the upcoming budget.

Are you confident about consumption growth in FY26 and FY27?

GST rationalisation and relief to income taxpayers will have an impact on consumption in FY26 and FY27. Other factors are improving rural demand is expected to remain stable (underpinned by a good monsoon), and urban employment appears to be bottoming out.

Given expectations of 15–16 percent earnings growth in FY27, which sectors do you see as the key drivers of this growth?

We believe FY27 EPS growth will be in the low double-digit instead of mid-teens, leading to expectations of earnings normalisation rather than acceleration. Financials and consumption should see better growth next fiscal.

Are you betting on defence stocks, and do you expect strong earnings growth in the sector?

With rising geopolitical risks across the globe, defence is no longer just a theme but a matter of national security. Growth will continue as the Government focuses on indigenisation and higher allocations. We are selectively investing in the sector.

Do you think global factors alone are responsible for the recent sharp depreciation in the rupee?

Global factors are seen as a primary driver of the anticipated depreciation. An uncertain and punitive tariff imposed by the US on India also weakened the INR.

Do you see the possibility of strong private capex over the next few years, and would you consider allocating fresh capital to capital goods?

While the Government has done the heavy lifting for years through massive public spending on infrastructure, the private sector has shown selective signs of picking up, though not yet broad-based. We think strong growth is still some time away, as utilization levels are still hovering at 74-75 percent.

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.

Friday’s closing to decide Nifty trend for coming week, Key levels to watch out for Nifty - 25,470 – 25,850, Strong relative momentum suggests that outperformance trend in Nifty PSU likely to persist

* Friday’s closing to decide Nifty trend for coming week
* Key levels to watch out for Nifty - 25,470 – 25,850
* Strong relative momentum suggests that outperformance trend in Nifty PSU likely to persist

shorts/business/chartist-talk-ashish-kyal-shares-outlook-for-vedanta-union-bank-nalco-mcx-hindustan-copper-indusind-bank-after-sharp-rally

* Friday’s closing to decide Nifty trend for coming week
* Key levels to watch out for Nifty - 25,470 – 25,850
* Strong relative momentum suggests that outperformance trend in Nifty PSU likely to persist

According to Ashish Kyal, the CMT, Founder and CEO of Waves Strategy Advisors, Hindustan Copper is currently approaching prior swing high of Rs 575 after taking a short breather. “Break above Rs 575 can extend the rally further towards Rs 600-650 levels,” he said in an interview to Moneycontrol.

On NALCO, which gained 4.5% in last session, he is of view that as long as the stock does not see a close below prior day’s low, upside momentum is expected to continue with the upside targets of Rs 400 level or higher.

He also shared his technical outlook on Union Ban of India, Vedanta, IndusInd Bank and MCX India after their strong rally in the recent session.

On the Nifty 50, he feels Friday closing will decide trend for coming week and key levels to watch out for are 25,470 – 25,850 levels.

Do you expect the Nifty 50 to break out of the 25,600–25,900 range of the past four days on the upside?

Nifty since past 7 days has been failing to give a positive close above prior day’s high. Prices are witnessing selling pressure on upside and not able to cross above 25,850 on closing basis which is also high volume profile area. It will be important to see a close above this level by end of day on Friday which is next working day for upside breakout.

On downside, any close below 25,470 by day-end will be sign of concern. Friday closing will decide trend for coming week and key levels to watch out for are 25,470 – 25,850 levels.

The Bank Nifty has hovered around short-term moving averages over the last few days. Do you see the possibility of the banking index moving toward record highs rather than witnessing sharp selling pressure?

Bank Nifty is holding 50 period EMA (Exponential moving average) and index is currently consolidating near the EMA support in between a range of 58,800-59,800. Consistent rally in PSU banks have limited downside movement in the Index. A break above 59,800 level can open doors for the targets of 60,400 followed by 61,000 levels. While a close below 58,800 can suggest that short term top has formed.

Do you expect the record-high rally to continue in Vedanta, Union Bank of India, and MCX India?

<a href="https://www.moneycontrol.com/india/stockpricequote/miningminerals/vedanta/SG">Vedanta</a> has hit record highs on strong rise in commodity prices. However, after a 13% rally since January 2026, RSI is overbought, so dips can be used to buy as long as there is no close below the prior day’s low, with upside targets of Rs 730 or higher over the coming months.

PSU banks continued to outperform. In the previous session, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-public-sector/unionbankindia/UBI01">Union Bank of India</a> surged nearly 8% post good quarterly results, forming a strong bullish candle for the first time in months. As long as the stock holds above Rs 165 level, the bias remains positive for upside targets of Rs 190 level or higher.

Since September, <a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/multicommodityexchangeindia/MCE">Multi Commodity Exchange of India</a> (MCX India) has been protecting prior week’s low on closing basis keeping bigger trend on sides of bulls. So, as long as key support of Rs 2,180 level remains protected on the downside one can use every decline to buy with the upside target of Rs 2,600 followed by Rs 2,800 level.

Are you super bullish on <a href="https://www.moneycontrol.com/india/stockpricequote/metals-non-ferrous/hindustancopper/HC07">Hindustan Copper</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/aluminium/nationalaluminiumcompany/NAC">NALCO</a>?

Global uncertainties have caused huge rally in commodities such as gold, silver, aluminium, and copper to reach all-time high levels. Hindustan copper and NALCO which are directly linked to these metals, so both companies are directly benefitting from this rally. Hindustan Copper is currently approaching prior swing high of Rs 575 after taking a short breather and now a break above the same can extend the rally further towards Rs 600-650 levels with Rs 540 followed Rs 520 as immediate support levels.

While NALCO is currently trading at the uncharted territory and has shown a sharp rally of nearly 13% within past one week. For now, as long as we do not see a close below prior day’s low, upside momentum is expected to continue with the upside targets of Rs 400 level or higher. On the downside, Rs 350 can act as an immediate support. Any break below it can result into short term profit booking.

Do you think the Nifty Auto index is done with its correction and is expected to resume its upward journey soon?

Nifty Auto index has lost most of its gains from recent rally and continued to drift lower by protecting prior day’s high on closing basis. The sector is currently standing at 50 EMA support of 27,700 level. A close below the same can accelerate further selling pressure towards 27,480 followed by 27,180 level. On the upside, a break above 28,180 can trigger short covering.

Do you see a cup-and-handle pattern breakout in <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/indusindbank/IIB">IndusInd Bank</a>? If yes, does it indicate that the rally will continue?

Yes, on the daily chart, IndusInd Bank has confirmed a breakout from a cup-and-handle pattern, followed by a successful retest, and has also moved above its prior swing high. Notably, volumes have picked up sharply for the first time since November 12, 2025, indicating strong participation and conviction in the ongoing move. As long as Rs 890 level remains protected on the downside, the rally is likely to extend further towards Rs 1,000 or higher.

Do you expect the record-high rally to continue in the Nifty PSU Bank index?

Since past one year, PSU Bank index has shown a clear outperformance as compared to Private Bank as it has surged by 30% in one year and continued to trade in a uncharted territory. This strong relative momentum suggests that the outperformance trend is likely to persist. On the upside, the index has the potential to move towards 9,000, followed by 9,200 levels, while 8,650 level remains a crucial support to watch.

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.

Chartist Talk: Ashish Kyal shares outlook for Vedanta, Union Bank, NALCO, MCX, Hindustan Copper, IndusInd Bank after sharp rally

According to Ashish Kyal, the CMT, Founder and CEO of Waves Strategy Advisors, Hindustan Copper is currently approaching prior swing high of Rs 575 after taking a short breather. “Break above Rs 575 can extend the rally further towards Rs 600-650 levels,” he said in an interview to Moneycontrol.

On NALCO, which gained 4.5% in last session, he is of view that as long as the stock does not see a close below prior day’s low, upside momentum is expected to continue with the upside targets of Rs 400 level or higher.

He also shared his technical outlook on Union Ban of India, Vedanta, IndusInd Bank and MCX India after their strong rally in the recent session.

On the Nifty 50, he feels Friday closing will decide trend for coming week and key levels to watch out for are 25,470 – 25,850 levels.

Do you expect the Nifty 50 to break out of the 25,600–25,900 range of the past four days on the upside?

Nifty since past 7 days has been failing to give a positive close above prior day’s high. Prices are witnessing selling pressure on upside and not able to cross above 25,850 on closing basis which is also high volume profile area. It will be important to see a close above this level by end of day on Friday which is next working day for upside breakout.

On downside, any close below 25,470 by day-end will be sign of concern. Friday closing will decide trend for coming week and key levels to watch out for are 25,470 – 25,850 levels.

The Bank Nifty has hovered around short-term moving averages over the last few days. Do you see the possibility of the banking index moving toward record highs rather than witnessing sharp selling pressure?

Bank Nifty is holding 50 period EMA (Exponential moving average) and index is currently consolidating near the EMA support in between a range of 58,800-59,800. Consistent rally in PSU banks have limited downside movement in the Index. A break above 59,800 level can open doors for the targets of 60,400 followed by 61,000 levels. While a close below 58,800 can suggest that short term top has formed.

Do you expect the record-high rally to continue in Vedanta, Union Bank of India, and MCX India?

Vedanta has hit record highs on strong rise in commodity prices. However, after a 13% rally since January 2026, RSI is overbought, so dips can be used to buy as long as there is no close below the prior day’s low, with upside targets of Rs 730 or higher over the coming months.

PSU banks continued to outperform. In the previous session, Union Bank of India surged nearly 8% post good quarterly results, forming a strong bullish candle for the first time in months. As long as the stock holds above Rs 165 level, the bias remains positive for upside targets of Rs 190 level or higher.

Since September, Multi Commodity Exchange of India (MCX India) has been protecting prior week’s low on closing basis keeping bigger trend on sides of bulls. So, as long as key support of Rs 2,180 level remains protected on the downside one can use every decline to buy with the upside target of Rs 2,600 followed by Rs 2,800 level.

Are you super bullish on Hindustan Copper and NALCO?

Global uncertainties have caused huge rally in commodities such as gold, silver, aluminium, and copper to reach all-time high levels. Hindustan copper and NALCO which are directly linked to these metals, so both companies are directly benefitting from this rally. Hindustan Copper is currently approaching prior swing high of Rs 575 after taking a short breather and now a break above the same can extend the rally further towards Rs 600-650 levels with Rs 540 followed Rs 520 as immediate support levels.

While NALCO is currently trading at the uncharted territory and has shown a sharp rally of nearly 13% within past one week. For now, as long as we do not see a close below prior day’s low, upside momentum is expected to continue with the upside targets of Rs 400 level or higher. On the downside, Rs 350 can act as an immediate support. Any break below it can result into short term profit booking.

Do you think the Nifty Auto index is done with its correction and is expected to resume its upward journey soon?

Nifty Auto index has lost most of its gains from recent rally and continued to drift lower by protecting prior day’s high on closing basis. The sector is currently standing at 50 EMA support of 27,700 level. A close below the same can accelerate further selling pressure towards 27,480 followed by 27,180 level. On the upside, a break above 28,180 can trigger short covering.

Do you see a cup-and-handle pattern breakout in IndusInd Bank? If yes, does it indicate that the rally will continue?

Yes, on the daily chart, IndusInd Bank has confirmed a breakout from a cup-and-handle pattern, followed by a successful retest, and has also moved above its prior swing high. Notably, volumes have picked up sharply for the first time since November 12, 2025, indicating strong participation and conviction in the ongoing move. As long as Rs 890 level remains protected on the downside, the rally is likely to extend further towards Rs 1,000 or higher.

Do you expect the record-high rally to continue in the Nifty PSU Bank index?

Since past one year, PSU Bank index has shown a clear outperformance as compared to Private Bank as it has surged by 30% in one year and continued to trade in a uncharted territory. This strong relative momentum suggests that the outperformance trend is likely to persist. On the upside, the index has the potential to move towards 9,000, followed by 9,200 levels, while 8,650 level remains a crucial support to watch.

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.

BSE and NSE closed on Jan 15 for Maharashtra municipal elections, Sensex fell 245 points, Nifty down 67 points in a volatile session, Indian rupee ended at 90.30 per dollar, its lowest in three weeks

* BSE and NSE closed on Jan 15 for Maharashtra municipal elections
* Sensex fell 245 points, Nifty down 67 points in a volatile session
* Indian rupee ended at 90.30 per dollar, its lowest in three weeks

BSE and NSE will be closed on January 15 for Maharashtra municipal elections. Markets ended lower on January 14 amid sectoral volatility. The rupee fell to a three-week low, pressured by rising commodity prices and foreign fund outflows.

shorts/business/stock-market-holiday-today-bse-nse-to-remain-shut-for-maharashtra-civic-polls

* BSE and NSE closed on Jan 15 for Maharashtra municipal elections
* Sensex fell 245 points, Nifty down 67 points in a volatile session
* Indian rupee ended at 90.30 per dollar, its lowest in three weeks

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on January 15 on account of municipal corporation elections in Maharashtra.

Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives and interest rate derivatives will remain shut for the day on both the BSE and the NSE.

The commodity derivatives segment will also remain closed for morning session, while trading will take place in the evening session.

Trading on the NSE and the BSE will resume on January 16 (Friday).

Indian markets ended lower in a volatile, rangebound session on January 14 as weakness in auto, IT and realty stocks offset strength in metal, PSU banking and oil &amp; gas counters. Investors stayed on the sidelines ahead of the US Supreme Court’s decision on the legality of President Donald Trump’s tariff measures.

At close, the Sensex was down 244.98 points or 0.29 percent at 83,382.71, and the Nifty was down 66.70 points or 0.26 percent at 25,665.60.

Tata Steel, NTPC, ONGC, Axis Bank, Hindalco Industries are among major gainers on the Nifty, while losers are Tata Consumer, TCS, Asian Paints, Maruti Suzuki, HUL.

On the sectoral front, metal, PSU Bank, power, oil &amp; gas index up 0.5-2%, while auto, IT, realty down 0.5-1%.

"The benchmark indices witnessed range-bound activity. The Nifty ended 67 points lower, while the Sensex was down by 245 points. Among sectors, Metal and PSU Bank indices rallied over 2 percent, whereas the IT index lost the most, shedding over 1 percent. Technically, after a muted open, the market registered narrow-range activity. On the lower side, it found support near 25,600/83200, while intraday profit booking was seen near 25,800/83800," said Shrikant Chouhan, Head Equity Research, Kotak Securities.

"We are of the view that the intraday market texture is non-directional; perhaps traders are waiting for either side to breakout. On the higher side, above 25,800/83800, the market could move up to 25,880-25,900/84000-84200. On the flip side, below 25,600/83200, selling pressure is likely to accelerate. If it falls below this level, it could retest the levels of 25,500-25,450/83000-82800," he added.

Indian rupee ended 12 paise lower at 90.30 per dollar on Wednesday versus Tuesday's close of 90.18.

"The Indian rupee has depreciated to its lowest level in three weeks, even as the central bank stepped in to curb volatility. The currency remains under pressure as imported commodity prices climb and domestic equities face headwinds from persistent foreign fund outflows," said Dilip Parmar – Senior Research Analyst, HDFC Securities.

"From a technical perspective, USDINR exhibits a bullish bias with resistance positioned at 90.40. A decisive close below the 89.90 support level would be required to shift this near-term outlook," he said.

&nbsp;

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.

Stock market holiday today: BSE, NSE to remain shut for Maharashtra civic polls

The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed on January 15 on account of municipal corporation elections in Maharashtra.

Trading in equities, equity derivatives, securities lending and borrowing (SLBs), currency derivatives and interest rate derivatives will remain shut for the day on both the BSE and the NSE.

The commodity derivatives segment will also remain closed for morning session, while trading will take place in the evening session.

Trading on the NSE and the BSE will resume on January 16 (Friday).

Indian markets ended lower in a volatile, rangebound session on January 14 as weakness in auto, IT and realty stocks offset strength in metal, PSU banking and oil &amp;amp; gas counters. Investors stayed on the sidelines ahead of the US Supreme Court’s decision on the legality of President Donald Trump’s tariff measures.

At close, the Sensex was down 244.98 points or 0.29 percent at 83,382.71, and the Nifty was down 66.70 points or 0.26 percent at 25,665.60.

Tata Steel, NTPC, ONGC, Axis Bank, Hindalco Industries are among major gainers on the Nifty, while losers are Tata Consumer, TCS, Asian Paints, Maruti Suzuki, HUL.

On the sectoral front, metal, PSU Bank, power, oil &amp;amp; gas index up 0.5-2%, while auto, IT, realty down 0.5-1%.

&quot;The benchmark indices witnessed range-bound activity. The Nifty ended 67 points lower, while the Sensex was down by 245 points. Among sectors, Metal and PSU Bank indices rallied over 2 percent, whereas the IT index lost the most, shedding over 1 percent. Technically, after a muted open, the market registered narrow-range activity. On the lower side, it found support near 25,600/83200, while intraday profit booking was seen near 25,800/83800,&quot; said Shrikant Chouhan, Head Equity Research, Kotak Securities.

&quot;We are of the view that the intraday market texture is non-directional; perhaps traders are waiting for either side to breakout. On the higher side, above 25,800/83800, the market could move up to 25,880-25,900/84000-84200. On the flip side, below 25,600/83200, selling pressure is likely to accelerate. If it falls below this level, it could retest the levels of 25,500-25,450/83000-82800,&quot; he added.

Indian rupee ended 12 paise lower at 90.30 per dollar on Wednesday versus Tuesday's close of 90.18.

&quot;The Indian rupee has depreciated to its lowest level in three weeks, even as the central bank stepped in to curb volatility. The currency remains under pressure as imported commodity prices climb and domestic equities face headwinds from persistent foreign fund outflows,&quot; said Dilip Parmar – Senior Research Analyst, HDFC Securities.

&quot;From a technical perspective, USDINR exhibits a bullish bias with resistance positioned at 90.40. A decisive close below the 89.90 support level would be required to shift this near-term outlook,&quot; he said.

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8 out of 15 years NIFTY Smallcap 100 has given negative returns in January.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	17,490.00	17,569.15	17,684.40	17,374.75	17,295.60	17,180.35	17,101.20
Fibonacci	17,449.01	17,494.89	17,569.15	17,374.75	17,300.49	17,254.61	17,180.35
Camarilla	17,428.67	17,446.49	17,464.31	17,374.75	17,393.03	17,375.21	17,357.39

INDEX CONTRIBUTION - NIFTY Smallcap 100

Net Contribution

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