Stock market today: Gift Nifty up 30 points; key levels for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 30.30 points, or 0.12 per cent, down at 25,289.50, hinting at a muted start for the domestic market on Wednesday.
- Jan 21, 2026,
- Updated Jan 21, 2026 8:19 AM IST
Indian equity benchmark indices likely to open with mild gains on Wednesday, after last session's bruising selloff pushed them to more than three-month lows, while global trade and geopolitical concerns, uneven earnings and sustained foreign outflows weighed. Equities have come under added pressure from elevated global trade and geopolitical uncertainty.
Nifty futures on the NSE International Exchange traded 30.30 points, or 0.12 per cent, down at 25,289.50, hinting at a muted start for the domestic market on Wednesday. Asian stocks extended their losses for a third session on Wednesday. Nikkei and KOSPI were down up to half a per cent, while Hang Seng crept marginally up.
Investors awaited the US Supreme Court’s likely ruling on the validity of US tariffs, which could influence near-term global risk sentiment, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "Overall, we expect weakness to persist in Indian markets until global trade tensions ease and foreign fund outflows show signs of moderation."
All three major Wall Street indexes ended Tuesday with their biggest one-day drops in three months. The S&P 500 lost 143.15 points, or 2.06 per cent, to end at 6,796.86 points, while the Nasdaq Composite gave up 561.07 points, or 2.39 per cent, to 22,954.32. The Dow Jones Industrial Average fell 870.74 points, or 1.76 per cent, to 48,488.59.
In the currency markets, the US dollar held steady at 98.56 against its major peers , having dropped 0.5 per cent overnight - the biggest daily fall since early December. US Treasury yields were also steady on Wednesday. Investors were trying to catch their breath in early trading.
Oil prices fell as pressure from geopolitical tensions and an expected build-up in US crude inventories outweighed a temporary halt in output at two large fields in Kazakhstan. West Texas Intermediate crude oil prices for March fell 1.31 per cent to $59.57 a barrel. Gold prices rose 0.8 per cent to $4,806 an ounce, a new record high, while silver climbed 0.4 per cent to $95.
Market sentiments remained subdued due to mixed corporate earnings and renewed concerns surrounding geopolitical tensions and global trade developments, said Ajit Mishra, SVP of Research at Religare Broking. "In this environment, participants are advised to keep position sizes in check and align trades in accordance with the prevailing market trend," he adds.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,938.33 crore on Tuesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 3,665.69 crore on a net-net basis.
Nifty50 & Sensex outlook
A long bearish candle on the daily charts and a lower top formation on intraday charts indicate further weakness from the current levels. We are of the view that, although the intraday market texture is weak, it is oversold; hence, one quick pullback rally from the lower levels cannot be ruled out, said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
"For traders, as long as the market is trading below 25,300/82,300, a weak sentiment is likely to continue. On the lower side, the market could slip to 25,100-25,000/82,000-81,700. On the flip side, above 25,300/82,300, a pullback move could take the market to 25,400-25,435/82,500-82,800," he said.
Nifty50 decisively breached the crucial support level of 25,400 and slipped sharply to an intraday low of 25,171.50 before settling near 25,225, confirming the continuation of the ongoing corrective phase, said Aakash Shah, Technical Research Analyst at Choice Broking.
"Immediate resistance for the index is placed in the 25,350–25,400 zone, while the next key support is seen at 25,050–25,100. The daily RSI declined further to 29.34, indicating extremely weak momentum and elevated near-term downside risk," he said.
Nifty Bank index
Nifty Bank has formed a second consecutive bearish candle, characterised by a lower high and a lower low, indicating continuation of the ongoing corrective decline and reflecting sustained selling pressure at higher levels. It has been consolidating within a well-defined range of 60,400–58,700 over the past seven weeks, said Bajaj Broking.
"The 58,700–59,000 emerged as an important short-term support area. This region coincides with the lower boundary of the seven-week consolidation range as well as the 50-day EMA, making it a critical level to watch. A breakdown below this support could accelerate downside momentum. On the upside, the all-time high zone of 60,200–60,400 acts as a major resistance," it said.
The immediate support for Nifty Bank is placed in the 59,000–58,900 zone. A breach below this band could trigger further downside volatility and expose the index to deeper corrective moves, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "On the upside, it faces a stiff resistance cluster at 59,900–60,000, which is expected to act as a crucial hurdle."
Indian equity benchmark indices likely to open with mild gains on Wednesday, after last session's bruising selloff pushed them to more than three-month lows, while global trade and geopolitical concerns, uneven earnings and sustained foreign outflows weighed. Equities have come under added pressure from elevated global trade and geopolitical uncertainty.
Nifty futures on the NSE International Exchange traded 30.30 points, or 0.12 per cent, down at 25,289.50, hinting at a muted start for the domestic market on Wednesday. Asian stocks extended their losses for a third session on Wednesday. Nikkei and KOSPI were down up to half a per cent, while Hang Seng crept marginally up.
Investors awaited the US Supreme Court’s likely ruling on the validity of US tariffs, which could influence near-term global risk sentiment, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "Overall, we expect weakness to persist in Indian markets until global trade tensions ease and foreign fund outflows show signs of moderation."
All three major Wall Street indexes ended Tuesday with their biggest one-day drops in three months. The S&P 500 lost 143.15 points, or 2.06 per cent, to end at 6,796.86 points, while the Nasdaq Composite gave up 561.07 points, or 2.39 per cent, to 22,954.32. The Dow Jones Industrial Average fell 870.74 points, or 1.76 per cent, to 48,488.59.
In the currency markets, the US dollar held steady at 98.56 against its major peers , having dropped 0.5 per cent overnight - the biggest daily fall since early December. US Treasury yields were also steady on Wednesday. Investors were trying to catch their breath in early trading.
Oil prices fell as pressure from geopolitical tensions and an expected build-up in US crude inventories outweighed a temporary halt in output at two large fields in Kazakhstan. West Texas Intermediate crude oil prices for March fell 1.31 per cent to $59.57 a barrel. Gold prices rose 0.8 per cent to $4,806 an ounce, a new record high, while silver climbed 0.4 per cent to $95.
Market sentiments remained subdued due to mixed corporate earnings and renewed concerns surrounding geopolitical tensions and global trade developments, said Ajit Mishra, SVP of Research at Religare Broking. "In this environment, participants are advised to keep position sizes in check and align trades in accordance with the prevailing market trend," he adds.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,938.33 crore on Tuesday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 3,665.69 crore on a net-net basis.
Nifty50 & Sensex outlook
A long bearish candle on the daily charts and a lower top formation on intraday charts indicate further weakness from the current levels. We are of the view that, although the intraday market texture is weak, it is oversold; hence, one quick pullback rally from the lower levels cannot be ruled out, said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
"For traders, as long as the market is trading below 25,300/82,300, a weak sentiment is likely to continue. On the lower side, the market could slip to 25,100-25,000/82,000-81,700. On the flip side, above 25,300/82,300, a pullback move could take the market to 25,400-25,435/82,500-82,800," he said.
Nifty50 decisively breached the crucial support level of 25,400 and slipped sharply to an intraday low of 25,171.50 before settling near 25,225, confirming the continuation of the ongoing corrective phase, said Aakash Shah, Technical Research Analyst at Choice Broking.
"Immediate resistance for the index is placed in the 25,350–25,400 zone, while the next key support is seen at 25,050–25,100. The daily RSI declined further to 29.34, indicating extremely weak momentum and elevated near-term downside risk," he said.
Nifty Bank index
Nifty Bank has formed a second consecutive bearish candle, characterised by a lower high and a lower low, indicating continuation of the ongoing corrective decline and reflecting sustained selling pressure at higher levels. It has been consolidating within a well-defined range of 60,400–58,700 over the past seven weeks, said Bajaj Broking.
"The 58,700–59,000 emerged as an important short-term support area. This region coincides with the lower boundary of the seven-week consolidation range as well as the 50-day EMA, making it a critical level to watch. A breakdown below this support could accelerate downside momentum. On the upside, the all-time high zone of 60,200–60,400 acts as a major resistance," it said.
The immediate support for Nifty Bank is placed in the 59,000–58,900 zone. A breach below this band could trigger further downside volatility and expose the index to deeper corrective moves, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "On the upside, it faces a stiff resistance cluster at 59,900–60,000, which is expected to act as a crucial hurdle."