Nifty 50, Sensex Today What To Expect From Indian Stock Market In Trade On January 14

Nifty 50, Sensex today: What to expect from Indian stock market in trade on January 14

Indian Stock Market Update: Sensex and Nifty 50 Outlook for Tuesday

The Indian stock markets are expected to open higher on Tuesday, supported by mixed cues from global markets. Trends on Gift Nifty suggest a potential gap-up opening for the Indian benchmark indices. Gift Nifty was trading around the 23,280 level, a premium of nearly 118 points compared to the previous close of Nifty futures.

On Monday, the domestic equity markets faced significant selling pressure. The Sensex dropped 1,048.90 points (1.36%) to close at 76,330.01, while the Nifty 50 fell 345.55 points (1.47%) to settle at 23,085.95.

The Nifty 50 formed a bearish pattern on the daily chart, opening with a gap down and ending with a long upper shadow.

Technical Insights

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, stated:
“The recent pattern indicates a decisive downside breakout of a symmetrical triangle, with limited strength to bounce back. The immediate support at 23,260 has been breached, suggesting a further slide. Nifty could head toward its next support at 22,800 – 22,700. Any pullback to 23,350 could be a sell-on-rise opportunity.”


Nifty 50: What to Expect Today

Nifty 50 showed significant weakness on January 13, closing 345 points lower.

  • Key Support: 22,950 – 22,800
  • Resistance: 23,050 – 23,100

Rupak De, Senior Technical Analyst at LKP Securities, explained:
“Bears dominated as the index continued to breach key levels. While Nifty slipped below its previous swing low, it managed to hold above 23,000, a critical level to watch. Sustaining above this level over the next few sessions could indicate a recovery. However, a decisive breach below 23,000 may trigger a deeper correction.”

VLA Ambala, Co-Founder of Stock Market Today, observed that both Nifty 50 and Sensex closed below their 50-day exponential moving averages (EMAs), signaling continued selling pressure.
“Nifty is now just 3% away from its 20-month EMA, a critical support zone. This pullback may present long-term investors with an opportunity to accumulate quality stocks at attractive valuations. On the charts, Nifty formed an Inverted Hammer candlestick, indicating upper price rejection,” Ambala added.


Bank Nifty: Key Levels to Watch

On Monday, Bank Nifty dropped 692.90 points (1.42%) to close at 48,041.25, forming a bearish candlestick on the daily chart.

  • Key Support: 47,300 (100-WEMA)
  • Resistance: 49,900 (250-DSMA)

Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates, commented:
“Bank Nifty’s inability to maintain above its 250-Day Simple Moving Average (DSMA) at 49,900 signals weakness. The index is approaching its 100-Week EMA support near 47,300, which will act as a key level. As long as Bank Nifty stays below 49,900, traders should follow a sell-on-rise strategy.”


Summary

  • Nifty 50 Outlook: Watch for support between 22,950 – 22,800 and resistance at 23,050 – 23,100.
  • Bank Nifty Outlook: Key support lies near 47,300, with resistance at 49,900.

The broader market sentiment remains bearish, with crucial levels being tested. While short-term volatility persists, long-term investors may find opportunities in quality stocks during pullbacks.

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