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Weekly options data suggest that 26,000 is expected to be a key resistance level for the Nifty 50, as it has the maximum Call open interest. On the downside, support is seen in the 25,700–25,500 range, where maximum Put open interest is placed.
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Technically, Gold is extremely overbought on all time frames, said Rahul Ghose.
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If the Nifty 50 sustains below 25,700, a fall below 25,600–25,500 cannot be ruled out in the upcoming sessions; however, holding above this level could raise the possibility of an upmove toward 25,900–26,000.
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The consolidation is likely to continue following a 2.5 percent loss last week. Below are some short-term trading ideas to consider.
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Experts expect bears to maintain the upper hand, with the possibility of further consolidation over the next few sessions.
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Any meaningful recovery in Nifty 50 is only possible on sustained move above 25,750 (being the resistance from falling trendline) above which prices might try to test the resistance zone of 25,880-25,900.
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Broader markets are also showing signs of strain. This widespread deterioration highlights a clear contraction in risk appetite, reinforcing the need for a cautious, defensive, and highly selective approach in the near term, Sudeep Shah said.
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Price movements turn erratic before the budget. But one thing stays clear: option prices become expensive (Volatility increases). You can benefit from this by going long straddle, buying an ATM Call and Put.
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The weekly options data suggested that 25,500 is expected to act as a crucial support, with strong resistance at 26,000.
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BSE-listed companies have lost around Rs 15 lakh crore in market capitalisation over the last five sessions of selling.
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Momentum indicators and a rising VIX signalled caution for bulls. The next support is placed at 25,700, and if Nifty 50 falls decisively below this level, a move toward 25,600–25,500 cannot be ruled out.
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The market is expected to consolidate with range-bound trading after the sharp correction. Below are some short-term trading ideas to consider.
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The rebound may be possible, but sustainability is the key to watch. If the index sustains below the 50 DEMA (25,900), the downward journey may extend toward 25,700, followed by 25,500. However, on the higher side, 26,000 is expected to act as resistance.
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The weekly options data suggested that the Nifty 50 may trade in the 25,500–26,200 range in the short term.
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If the Nifty 50 fails to defend the previous day’s low (26,068, which is slightly below the 20-day EMA), selling pressure may drag the index toward the crucial support of 26,000. On the upside, resistance is placed in the 26,200–26,250 zone.
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The market is likely to consolidate further with a negative bias. Below are some short-term trading ideas to consider on January 8.
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Consolidation with range-bound trade is expected to continue for a few more sessions before the index stabilises and rebounds.
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Weekly options data suggest that the Nifty 50 is expected to face resistance near 26,200 in the near term, with support placed at 26,100–26,000 levels.
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If the Nifty 50 sustains below 26,200, the consolidation may continue, with crucial support at 26,000, below which selling pressure may widen. However, above 26,200, the 26,300–26,400 levels are ones to watch.
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Consolidation is expected to continue in the market for the next few sessions. Below are some short-term trading ideas to consider.
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If the Nifty 50 sustains below 26,200, the consolidation may continue, with the crucial support of 26,000 likely to be tested in the next few sessions, as a decisive fall below this level could bring bears into action. However, the 26,300–26,400 zone is expected to act as a resistance area.
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The next support for Nifty 50 is placed at 26,100, which coincides with the 10-day EMA and Tuesday’s low. If the index decisively breaks this level, the crucial support of 26,000 will be the level to watch, as a decisive fall below it could shift momentum from bullish to bearish. On the upside, 26,300 can act as a hurdle.
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If the Nifty 50 defends the 26,200 level, a possible move toward 26,300–26,400 cannot be ruled out, followed by 26,500. However, a decisive fall below this level could drag the index toward 26,000, which is the crucial support.
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The market may remain range-bound until it trades below Monday’s high. Below are some short-term trading ideas to consider.
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As long as the Nifty 50 holds above 26,200, the possibility of a rebound towards the 26,400–26,500 zone cannot be ruled out. However, a decisive break below this level could push the index into a consolidation phase, with 26,000 emerging as a crucial support.
