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Trends on SGX Nifty indicate a negative opening for the broader index in India with a loss of 42 points

January 28, 2022 / 07:55 AM IST

The Indian stock market is expected to open in the red as trends on the SGX Nifty indicate a negative opening for the broader index in India with a loss of 42 points.
The BSE Sensex plunged 581.21 points to 57,276.94, while the Nifty50 declined 167.80 points to 17,110.20 and formed bullish candle on the daily charts as the closing was higher than opening levels.
According to pivot charts, the key support levels for the Nifty are placed at 16,923.83, followed by 16,737.47. If the index moves up, the key resistance levels to watch out for are 17,239.53 and 17,368.87. 

US Markets

Wall Street gyrated wildly on Thursday, the S&P 500 once again narrowly avoiding correction confirmation at the end of a session marked by a rally, selloff and recovery as investors juggled positive economic news with mixed corporate earnings, geopolitical unrest and the prospect of a more hawkish Federal Reserve.

All three major US stock indices ended lower, having been whipsawed by uncertainty in recent days, marked by wide fluctuations and heightened volatility.