Nifty Prediction For Tomorrow By Experts, Jan 20: Indian stock market indices Sensex and Nifty 50 ended lower on Monday, tracking deep losses in heavyweights
Reliance Industries and ICICI Bank. Global tariff uncertainties also spooked the investors. The 50-share NSE Nifty declined 108.85 points or 0.42 per cent to 25,585.50. During the day, the index made a low of 25,494.35 and a high of 25,653.30. The 30-share BSE Sensex declined 324.17 points or 0.39 per cent to settle at 83,246.18. Among the sectoral indices, the Nifty FMCG index outperformed with 0.67 per cent gain. The Nifty Oil & Gas was the top loser as it crashed 1.56 per cent, led by heavy selling in RIL which tanked 3.07 per cent. The Nifty Bank index lost 203.80 points or 0.34 per cent to finish at 59,891.35. Only four stocks gained while 10 declined. The broader market mirrored this weakness, with both midcap and smallcap indices also slipping, indicating widespread selling rather than isolated sector moves. India VIX, the fear gauge index, spiked 4 per cent to settle at 11.83, indicating a high, indicating heightened volatility.
Top Gainers, Losers Today
From the Nifty 50 pack, only 19 stocks gained and 31 stocks declined. IndiGo was the top gainer as it climbed 4.16 per cent, followed by Tech Mahindra, HUL, Kotak Mahindra Bank, Maruti, Bajaj Finance, Shriram Finance, ITC, Trent and Axis Bank.
Wipro was the top loser as it crashed 8.21 per cent after weak Q3 results. Reliance Industries tumbled more than 3 per cent as its Q3 results missed estimates. Eternal, TMPV, Max Health, ICICI Bank, ONGC, Apollo Hospitals, TCS, Jio Financial Services, Titan, Adani Ports, Adani Enterprises, Tata Consumer Products, Grasim Industries and UltraTech Cement were other losers.
Vinod Nair, Head of Research, Geojit Investments, said that global risk appetite weakened after US President Donald Trump announced new tariff threats against eight European nations, reigniting concerns of a potential US-EU trade dispute. This development triggered a broad risk-off mood across global equity markets, prompting investors to rotate toward safe-haven assets like gold.
"Domestically, sentiment remains cautious amid ongoing FII outflows. With the Q3 earnings season progressing, stock-specific volatility is likely, particularly where performance has been mixed," he said.
Nifty Support And Resistance Tomorrow, Jan 20
Today's sharp decline in Nifty was primarily fueled by disappointing quarterly results from blue-chip heavyweights. NSE cash turnover dropped 11 per cent from the previous session.
Nifty has now retreated nearly 3 per cent from its all-time high of 26,373.20, touched on January 5.
Nandish Shah, Deputy Vice President, HDFC Securities, said that a decisive breach below the 25,473 will violate the current consolidation range and accelerate the slide toward the next major support at 25,318. Nifty's immediate resistance, he said, has now shifted lower to 25,865.
According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty may continue to drift lower in the near-term, with a potential downside target around 25,200, while resistance is placed near 25,700.
From a technical perspective, Ajit Mishra, SVP, Research, Religare Broking, said that Nifty’s break below the key support zone near 25,600 signals a continuation of the near-term corrective trend, with the next support placed around the 25,300–25,400 range. In the event of a rebound, the 25,600 level followed by the 25,800 zone is likely to act as strong resistance.
Nifty 50 Chart Candle
Nifty has formed a reasonable negative candle was formed on the daily chart with lower shadow.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said that the market is now placed at the lower end of the range (25900-25500) and also crucial support around 25500 levels. But, still there is no confirmation of any bottom reversal formation at the lows.
"The underlying trend of Nifty continues to be weak. Any sustainable bounce back from near the crucial support (25500) could open short term upmove in the market. But, a slide below 25500 is likely to trigger more weakness down to 25200 (near 200day EMA)," the analyst said.
(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.)
