The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat on Monday after five consecutive sessions of losses amid weak global cues. Renewed concerns over US tariffs, relentless foreign capital outflow and caution ahead of the Q2 results season are likely to keep investor sentiment weak.
The trends on Gift Nifty also indicate a flat start for the Indian benchmark index. The Gift Nifty was trading around 25,796 level, a premium of nearly 8 points from the Nifty futures’ previous close.
On Friday, the Indian stock market extended losses for the fifth straight session and ended sharply lower.
The Sensex crashed 604.72 points, or 0.72%, to close at 83,576.24, while the Nifty 50 settled 193.55 points, or 0.75%, lower at 25,683.30.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex displayed weak intraday momentum with a bearish tilt on January 9, 2026, facing resistance at key levels and showing signs of short-term consolidation.
“From a technical perspective, immediate resistance for Sensex is placed at 84,100, followed by 84,400, where supply is expected to intensify. On the downside, the 83,100 – 83,000 zone is seen as a crucial support and potential accumulation area for positional traders,” said Aakash Shah, Research Analyst, Choice Equity Broking.
While support near the current zone could offer buying interest, Shah believes sustaining upside will require reclaiming immediate resistance zones to shift sentiment back in favour of bulls.
Nifty OI Data
Derivative positioning continues to reflect a cautious and defensive stance.
“Option data for the January 13 weekly expiry shows heavy Call writing concentrated at the 26,000 strike, with nearly ₹26.65 crore in open interest, reinforcing it as a strong overhead resistance. Put writing stands at approximately ₹12.90 crore, indicating limited aggressive downside conviction but selective protection near lower levels,” said Ponmudi R, CEO – Enrich Money.
Overall, the options setup suggests a range-bound to mildly bearish bias, unless meaningful short covering emerges above key resistance zones, he added.
Nifty 50 Prediction
Nifty 50 index slipped 2.45% last week and formed a bearish engulfing pattern on the weekly timeframe. The daily chart formed a bearish candle.
“A long bear candle was formed on the daily chart with minor lower shadow. Technically, this market action indicates a sharp down trended movement in the market. A long bear candle was formed on the weekly chart that signals sharp reversal in the market after the consolidation movement of a few weeks. This is not a good sign and indicates more weakness in the coming week,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, the underlying trend of Nifty 50 continues to be weak and a slide below the support of 25,700 could open more decline down to 25,400 in the coming week. Immediate resistance is placed at 25,900.
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd. noted that the Nifty 50 faced stiff resistance near the 50-DMA positioned around 25,960 levels.
“The next crucial support is placed at the 100-DMA near 25,540 levels, and as long as the Nifty 50 index holds above this zone, a pullback towards 25,900 levels cannot be ruled out. However, momentum indicators and oscillators have already generated sell crossovers on both the daily and weekly timeframes, indicating underlying weakness,” said Jain.
Moreover, he added that the India VIX surged by 16% during the week to close near the 11 mark, which continues to be a cause for concern.
Bank Nifty Prediction
Bank Nifty index ended 434.95 points, or 0.73%, lower at 59,251.55 on Friday, forming a bearish candle near the upper Bollinger Band on the daily chart, indicating rejection from higher levels. On the weekly chart, Bank Nifty has formed a Dark cloud cover candlestick pattern indicating selling pressure at higher levels.
“Bank Nifty index is expected to remain in a consolidation phase within the 58,800 – 60,400 range. A decisive breakout above this range or a breakdown below it will provide clarity on the next directional move. Key short-term support zone lies at 59,000 – 58,700. This area is significant as it represents a confluence of the 50-day EMA and the previous month’s low, making it a crucial level to watch,” said Bajaj Broking Research.
Om Mehra, Technical Research Analyst, SAMCO Securities said that the 59,000 – 58,750 zone now stands out as the immediate support area to watch. Holding above this band is required to stabilise near-term movement.
“On the upside, the 59,600–59,700 zone acts as a strong resistance. The near-term tone has turned cautious following rejection from higher levels, while the broader trend remains under watch as long as key supports hold,” said Mehra.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Source link