Nifty Technical View for 9 January 2026
by Paresh Gordhandas, CA & Research Analyst
🕗 Last Update: 8 January 2026, 7.00 PM
Nifty closed at 25,876.85, down 1.01%, extending the mild corrective phase seen over the past week. Despite the recent decline, the broader trend remains bullish across short-, medium-, and long-term time frames, indicating that the current move is a correction within an uptrend, not a trend reversal.
Price & Moving Averages:
The index has slipped below the 20D and 34D SMAs/EMAs clustered near 26,040–26,060, turning this zone into an immediate resistance area. However, Nifty continues to trade above the 89D SMA (25,622) and well above the 200D SMA (25,039), preserving medium- to long-term structure.
Momentum & Oscillators:
RSI at 44.11 reflects weakening momentum but is not in extreme oversold territory. Stochastics (%K 7.61) and StochRSI (0.00) indicate short-term oversold conditions, suggesting scope for a technical bounce. MACD histogram has turned negative, while ADX at 11.95 signals a low-strength trend, typical of consolidation phases rather than aggressive sell-offs.
Volatility & Bands:
Nifty is trading near the lower Bollinger Band (25,753), hinting at short-term exhaustion on the downside. ATR at 177.73 indicates elevated intraday volatility, so sharp swings may continue.
Key Levels to Watch:
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Immediate Support: 25,780–25,750
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Major Support: 25,620–25,550 (89D SMA & Fibonacci supports)
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Immediate Resistance: 25,950–26,050
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Stronger Resistance: 26,230–26,300
Outlook:
As long as Nifty holds above 25,620, the broader bullish structure remains intact. A pullback bounce is possible from oversold readings, but sustainable upside will require a decisive move above 26,050–26,100. A breakdown below 25,620 could deepen the correction towards 25,400–25,300.
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Nifty Technical Analysis: Latest Support, Resistance & Trading Strategy
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A combination of RSI, MACD, and support-resistance levels work best for Nifty. RSI shows momentum, while MACD helps confirm trend reversals or continuation.
Support and resistance levels are derived from previous highs and lows, Fibonacci levels, and price-action zones. These help in setting entry and exit points.
During high volatility, Nifty can offer strong intraday moves but carries higher risk. Use tighter stop-losses and smaller positions to manage risk effectively.
An RSI between 40 and 60 often indicates a good zone to accumulate if other indicators support the trend. RSI above 70 could mean overbought, while below 30 is oversold
MACD helps identify trend strength. A bullish crossover (MACD line above signal line) suggests upward momentum, while a bearish crossover may indicate a possible decline.
Yes, many traders use pure technical analysis for Nifty. However, combining it with macroeconomic news, global market trends, and FII/DII activity gives better accuracy.
