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Nifty 50 Nifty Bank Analysis for January 22, 2025
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Chanakya’s Nifty Bank & Nifty 50 Investments Analysis Stock market today live
Nifty Bank (48571)
*Trend for January 22, 2025
On Tuesday, Bank Nifty showed severe correction & closed at 48571, up by 780 points. On Wednesday, BankNifty is expected to continue downtrend momentum from the opening bell. Medium term undertone is very bearish. Bank nifty is expected to slide further.
*On lower side, it is expected to decline to 48153
*On higher side, it is expected to move up to 49266,
Nifty 50 (23025)
On Tuesday, Nifty showed severe correction & closed at 23025, up by 320 points. On Wednesday, Nifty is expected to continue downtrend momentum from the opening bell. Medium term undertone is very bearish. Nifty is expected to slide further.
*On lower side, it is expected to decline to 22859
*On higher side, it is expected to move up to 23308
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Technical Analysis of the Market by Mr. Nagaraj Shetti,
Senior Technical Research Analyst at HDFC Securities
After showing a broader range movement in the last 6 sessions, Nifty witnessed heavy selloff on Tuesday and closed the day lower by 320 points. After opening with a positive note, the market was not able to sustain the opening gains and started to show weakness from the highs. There was a sharp volatility in the mid to later part of the session and Nifty finally closed at the lows.
A long bear candle was formed on the daily chart, that has engulfed the narrow range movement of the last six sessions on the downside. The broader high low range of 23400-23050 is now on the verge of downside breakout. The previous opening downside gap of 13th Jan has weighed high on the market and that resulted in a sharp weakness.
The underlying trend has turned down sharply after a small upside bounce. The next lower support to be watched around 22800 levels and any pullback rally could find strong resistance around 23200 levels.
What is Vaishali Parekh’s prediction for Nifty 50?
(Vice President — Technical Research at Prabhudas Lilladher)
Market Preview
The Indian stock markets crashed on Tuesday, January 21, due to a broad selloff as investors exercised caution after US President Donald Trump unveiled plans for trade tariffs on neighbouring countries shortly after taking office. The Nifty 50 index closed 1.37 per cent lower at 23,024.65 points, compared to 23,344.75 points at the previous market close.
The BSE Sensex index closed 1.60 per cent lower at 75,838.36 points, compared to 77,073.44 points at the previous market close.
Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, said the Nifty 50 failed to sustain above the 23,400 zone. The sentiment turned weak due to heavy profit booking. Parekh estimates the Nifty 50 Spot index to find support at 22,800 points and face resistance at 23,200 points. The Bank Nifty index will likely move in the 47,900 to 49,000 range.
Stock market today
On the outlook for the Nifty 50 and the Bank Nifty index, Parekh said, “Nifty has formed a big bearish candle on the daily chart after failing to sustain above the 23,400 zone. It witnessed steep slides intraday due to heavy profit booking to end near the 23,000 zone, with bias and sentiment turning weak again with a very cautious approach.”
“As mentioned earlier, the important and crucial support level of 23,000 need to be sustained, below which the index can witness further downward movement, with next support areas positioned near 22,800 and 22,500 levels,” said the stock market expert.
“Bank Nifty also could not move past the 49,600 zone, and, amid volatility, slipped down to end near the 49,550 level with bias turned weak once again. With a big red candle visible on the daily chart, the sentiment has turned cautious. The support level at 47,900 is at stake once again,” said Parekh.
Parekh said that the Nifty 50 Spot for today has support at 22,800 points and resistance at 23,200 points. The Bank Nifty index would have a daily range of 47,900 to 49,000.
Share Market today live & Nifty Analysis by Shrikant Chouhan
Head, Equity Research Kotak Securities
Today, the benchmark indices corrected sharply. The Nifty ends 320 points lower, while the Sensex fell by 1235 points. Among sectors, all the major sectoral indices were traded in the red, but the Realty index lost the most, shed over 4 percent.
Technically, after a gap-up open, the market consistently faced selling pressure at higher levels. This led to the formation of a long bearish candle on the daily charts, and the index closed below the 23,100/76000-support zone, which is largely negative. We are of the view that, as long as the market trades below 23, 100/76000, the weak sentiment is likely to continue.
On the downside, the market could slip as low as 22,900/75500. Further weakness is likely to continue, which could drag the market till 22850/75300. However, above 23100/76000, the market could bounce back, moving towards 23,250-23,300/76400-76500. The current market texture is volatile, and thus level-based trading would be the ideal strategy for day traders.
Analysis by Mr. Devarsh Vakil, Head – Prime Research, HDFC Securities
On his first day back in the White House, President Donald Trump warned BRIC nations that their plans for a BRIC currency would trigger a 100% tariff response.
Markets experienced significant volatility on Sensex’s weekly expiry session, with Nifty closing down 320 points (1.37%) at 23,024. Trading volume on the NSE cash market increased by 9% compared to the previous day.
Breaking their five-day winning streaks, the Midcap and Smallcap indices saw sharp declines, with the Nifty Midcap 100 falling 2.31% and the Nifty Smallcap 100 dropping 2.28%. Market sentiment weakened further, reflected in the BSE’s advance-decline ratio of 0.43. All sectoral indices closed negative, with Nifty Realty, Consumer Durables, and PSU Banks recording the steepest losses.
The Nifty failed to surpass its early morning high of 23,426, remaining under bearish pressure throughout the session. The index has now declined over 13% from its all-time high of 26,277, closing at its lowest point in the current downtrend.
On the daily chart, the Nifty formed a bearish engulfing candlestick pattern, encompassing the movement of the previous six trading sessions. This technical formation suggests the primary downtrend may continue, with the next support level at 22,800 and resistance at 23,200.
Analysis by Rajesh Bhosale, Technical Analyst, Angel One Ltd – Angel One
Intraday volatility spikes, NIFTY retests sub-23000 terrain
The day began on a positive note, but selling pressure emerged right from the start, creating an ‘Open High’ scenario. As the session progressed, significant weakness set in amid heightened volatility, with sharp intraday bounces being swiftly sold into. By the close, Nifty registered a 1.30% decline, ending slightly above the 23000 mark.
It turned out to be a disappointing session for the bulls, as hopes of recovery, following a brief pause in bearish momentum over the last few sessions, were dashed with the bears regaining control. The markets faced a broad-based sell-off, underperforming compared to global peers. Despite the strong grip of bearish momentum, the session was marked by sharp, volatile swings on both sides. Given the severity of the sell-off, the ongoing weakness is likely to persist, with the support from the falling wedge pattern appearing fragile around 22900. Should this level break, the next support zone would be seen at 22800–22700. On the upside, resistance levels continue to shift lower, with the previous support at 23200 now acting as the immediate hurdle, while 23400 remains a stiff barrier. Moving forward, elevated volatility is expected, and market participants should remain cautious, closely monitoring global events while avoiding complacent positions.
Market Analysis by Om Mehra, Technical Analyst, SAMCO Securities
Nifty Succumbs to Bearish Momentum, Breaches 23,000 Support as Volatility Surges
Nifty closed the session at 23,024.65, registering a decline of 1.37% and breaching the crucial support level of 23,000. The index formed a bearish engulfing candlestick pattern, with the day’s body engulfing the candles of the previous six sessions, signaling an intensified bearish outlook.
The broader structure of lower highs and lower lows remains intact, indicating the continuation of the downtrend. Nifty also slipped below its 9-day EMA, suggesting weakening short-term momentum. The index’s falling intensity was highlighted by a sharp rise in volatility, as the India VIX surged 3.90% intraday, closing at the 17.06 level. Notably, the VIX spiked nearly 18% in January, signaling heightened market uncertainty.
The daily RSI tilted further downward now hovering near the 35 level, reflecting diminishing strength. The support is positioned at 22,800 and the primary trend remains decisively bearish.
At this juncture, bottom fishing should be avoided as the market remains vulnerable. It is prudent to wait for clear signs of stabilization or reversal.
Nifty Bank ended the session at 48,570.90, registering a decline of 1.58%. The index formed a bearish engulfing pattern on the daily chart, highlighting a mounting bearish outlook.
Although Nifty Bank attempted to move higher, the previous resistance levels proved to be stronger, and the index lost momentum. The broader structure of lower highs and lower lows remains intact, signaling the continuation of the downtrend. The index remain below key moving averages, suggesting persistent weakness in the short term.
The swing low remains at 47,898, and a break below this level could trigger further declines in the index. The immediate resistance remains at 49,500, which could limit any potential upward movement.
Weekly market analysis by Amol Athawale, VP-Technical Research, Kotak Securities:
In the last week, the benchmark indices witnessed volatile activity. After a roller coaster of fluctuations, the Nifty ended 0.97 percent lower, while the Sensex was down by 760 points. Among the sectors, the IT index lost the most, shed over 5 percent, whereas the PSU Bank index gained over 3 percent. During the week, after the correction, the market found support near 23050/76200 and bounced back sharply; however, it registered profit booking at higher levels once again.
Technically, on the daily and intraday charts, it is still holding a lower top formation, which suggests further weakness from the current levels. We believe that the current market texture is weak but oversold; hence, level-based trading would be the ideal strategy for short-term traders.
For bulls, 23300/76900 would act as a key resistance level. Above this level, we could see an extension of the pullback rally up to 23500/77500 and 23590/77800, or the 20-day Simple Moving Average (SMA). On the other hand, 23100/76300 will serve as a key support zone. Below this level, the market could slip to 23000/76000, with further weakness potentially dragging the index down to 22850/75700.
For Bank Nifty, as long as it is trading below 49200, weak sentiment is likely to continue. On the downside, it could touch levels of 48000-47600. However, if it breaks above 49200, the chances of hitting 49800-50000 would increase significantly.
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