Nifty Analysis by Angel One
For January 09, 2026
Nifty write up by Rajesh Bhosale, Equity Technical Analyst, Angel One.
Fresh tariff woes trigger broad-based sell-off; Nifty slips below 50-DEMA
Once again, the market opened on a negative note, and unlike the previous few sessions, the sell-off intensified as the day progressed. Nifty eventually ended with a sharp cut of around 1%, closing tad below the 25900 mark.
Nifty slipped for the fourth consecutive session, thereby erasing all the gains made in the previous week. The bullish Symmetrical Triangle breakout witnessed last Friday now stands negated, as prices slipped below last week’s low. Additionally, the index has seen a bearish breakdown from the rising trendline connecting the higher bottoms of November and December, along with a close below the 50-DEMA, which had acted as a strong support over the past couple of months. The coming session will be crucial, as sustained trading below the 25900 level could open the door for further downside in the week ahead. The next key support is placed around 25700, which marks the December swing low and coincides with the 89-DEMA, followed by 25500, a key retracement level. On the upside, the 26000–26100 zone, coinciding with the 20-DEMA, is seen as immediate resistance, and unless the index regains this zone, the market may continue to remain under pressure. Amid ongoing geopolitical tensions and fresh tariff-related concerns, a broad-based sell-off was witnessed in the midcap space, which had earlier marked its highest close on Wednesday and was showing strong momentum until then. Volatility is likely to remain elevated in the near term, and traders are advised to avoid aggressive positions until there is better stability and clarity on global cues.
Key levels to watch
NIFTY
Support: 25800 – 25700
Resistance: 26000 – 26100
BANKNIFTY
Support : 59500 – 59300
Resistance: 60200 – 60300
- 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
