Nifty Analysis by Angel One
For January 06, 2026
Nifty write up by Osho Krishan, Chief Manager -Technical and Derivative research at Angel One
Nifty snaps three-day winning streak amid fresh geopolitical tensions; undertone remains positive
During the weekend, fresh geopolitical tensions emerged; despite this, Nifty went on to mark a fresh new all-time high during the morning session at 26373. However, the move lacked follow-up buying, and as the day progressed, prices gradually drifted lower through the session, eventually ending with a cut of around 0.30% at 26250.
On Friday, Nifty had witnessed a decisive breakout from the past two months of consolidation, confirming a “Symmetrical Triangle” pattern. Amid the renewed geopolitical concerns, follow-through buying was missing, yet the broader technical structure remains intact as prices continue to trade above the breakout zone and remain well above all key moving averages. As per the concept of the “January Barometer,” if the current positive undertone sustains, it augurs well for the bulls in the near term. Technically, therefore, any consolidation or intraday dip should be viewed as a buying opportunity, as we continue to expect the benchmark to scale new milestones in the near term. On the downside, the 20-DEMA, coinciding with the lows of the last two sessions around 26100–26070, is seen as an immediate support zone. On the upside, in uncharted territory, 26400–26500 emerges as the next immediate resistance band.
While the key indices showed some hesitation, individual stocks and selective themes continued to deliver strong performance. Going ahead, traders are advised to maintain a stock-specific and thematic approach to capture outperformance. Also, one needs to keep a close eye on global and geopolitical developments, as they may drive short-term volatility.
Key levels to watch
NIFTY
Support: 26100 – 26050
Resistance: 26400 – 26500
BANKNIFTY
Support : 59900 – 59700
Resistance: 60400 – 60500
- Market Analysis by Nagaraj Shetti
- Stock Market today by Vaishali Parekh
- Analysis by Kotak Securities
- Market Analysis by HDFC Securities
- Technical Analysis by Kotak Securities
- Technical Analysis by Samco Securities
- Reliance, Target & Stoploss
- Gold Analysis
- FII buy-Sell
- Technical Analysis
- Calls for the Day
- Currency Analysis
Quicklinks
