Nifty Prediction For Tomorrow By Experts, Jan 21: Indian stock market indices Sensex and Nifty 50 tanked over 1 per cent on Tuesday (Jan 20), dragged down
by broad-based selling amid escalating geopolitical tensions. Also, weakness in the rupee and persistent foreign fund outflows dented investors' sentiment. The Nifty index opened in negative territory and remained under pressure for most of the session. Extending its previous day's decline, the index closed with a big cut of 353 points or 1.38 per cent at 25,232.50. The 30-share BSE Sensex tumbled 1,065.71 points or 1.28 per cent to settle at 82,180.47. Selling was widespread, with realty, auto and IT stocks among the key laggards, while banking stocks offered limited support. The Nifty Bank index tumbled 487.15 points or 0.81 per cent to settle at 59,404.20. The broader market witnessed sharp pressure, with both midcap and smallcap indices declining by over 2.5 per cent, reflecting heightened risk aversion and a lack of conviction across segments. India VIX jumped 7 per cent to close at 12.70, indicating heightened market uncertainty.
Top Gainers, Losers Today
From Nifty pack, only three stocks gained while 47 closed in the red. Dr Reddy's, HDFC Bank and Tata Consumer closed in the green. Adani Enterprises, Bajaj Finance, Jio Financial Services, Eternal, Coal India, Sun Pharma and Apollo Hospital fell more than 3 per cent each. IndiGo, Bajaj Finserv, Trent, M&M, Asian Paints, Bajaj Auto, Tech Mahindra, Shriram Finance, Grasim Industries, Tata Steel, Wipro, Max Health, UltraTech Cement, ITC and Eicher Motors dropped in the range of 2 to 3 per cent.
"Fresh threats by US President Donald Trump to impose additional tariffs on European nations opposing the US move to take control of Greenland have triggered another bout of global equity selling, with Indian markets also witnessing broad-based pressure," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
Nifty Support And Resistance For Tomorrow, Jan 21
Nifty fell for the second consecutive session to hit a three-month low. This was the steepest single day fall since May 13, 2025. NSE cash market turnover increased 13 per cent compared to the previous session.
Nandish Shah, Deputy Vice President, HDFC Securities, said that Nifty has decisively breached the crucial swing low at 25,473 and is now placed close to the 200-day EMA (25,160) and SMA (25,113), the final major technical supports.
"With bearish trends confirmed across all timeframes, a break below these 200DMA levels could trigger further selling toward the 24,800-24,900 support zone, while the breached 25,470-25,500 will interchange its role as resistance on any pullback attempts," the expert said.
According to Ajit Mishra, SVP, Research, Religare Broking, Nifty has approached a crucial support zone near its long-term moving average, the 200 DEMA, placed around the 25,150 level. A brief pause or rebound cannot be ruled out at current levels. But any recovery will largely depend on performance from the two key sectors, banking and IT.
If Nifty rebounds, he said, 25,400–25,600 zone is likely to act as an immediate resistance. "A decisive break below the long-term moving average may open the door for further downside towards the 24,900."
"The underlying trend of Nifty is sharply down. Further weakness below the support of 25,100 could possibly open next lower area of 24800 in the near term. Nifty has immediate resistance is placed at 25,500," Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
Nifty 50 Chart Candle
Nifty has formed a strong bearish candle on the daily chart and now appears to be drifting towards its long-term 200-DMA near 25,110 levels, said Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking.
"The overall market structure remains weak, with the MACD signaling a sell crossover on both the daily and weekly timeframes. Although a short-term pullback cannot be ruled out, the bearish setup will remain intact unless the index decisively moves back above 25,580," the expert said.
"On the downside, a break below 25,100 can accelerate the fall towards the 24,800," he added.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
