Know how Nifty Bank may move on January 16, 2026 (symbolic photo)
highlights
- Nifty closed almost flat today amid the fall in the stock market.
- Know the support levels of Nifty Bank 50 on January 16
- Know the resistance levels of Nifty Bank 50 on January 16
First know the condition of other indexes
Nifty closed 66.70 points or 0.26 per cent lower at 25,665.60. The Sensex fell 244.98 points, or 0.29 percent, to close at 83,382.71. Whereas Metals, PSU Bank and Oil & Gas showed strength today. There has been a decline in realty, IT and auto. The Nifty Metal index rose 2.70 per cent, while the Nifty Bank index closed almost unchanged at 59,680.15.
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Nifty Bank stands like a rock
According to Tejas Shah, Technical Research Vice President, GM Financial Services, if we talk about Nifty Bank, the structure of Nifty Bank looks stronger in comparison to Nifty. Even though we are seeing selling at upper levels in Nifty, Bank Nifty is standing like a rock. 58,700 is a positional support. There is support of 59,200 points on immediate basis. As long as both these levels remain intact, I feel that in the coming days, Bank Nifty may show levels ranging from 60,000 points to 60400 points.
Know the important support and resistance levels of Nifty for January 16
According to Tejas Shah, Technical Research Vice President, GM Financial Services, if we talk about Nifty, today we saw a little selling in Nifty from the upper levels, but Nifty is respecting the 100-day moving average. An important support zone is visible at 25625 points. In such a situation, unless the support level is broken, I do not see any major fall from here. If the level of 25625 is broken, then we can see selling of 100 points to 150 points. If we talk about the upper levels in Nifty, then an immediate hurdle of 25800 is visible, the major resistance is around 26,000 points. In such a situation, the market is currently at support, and until this support is not broken, I do not see any huge fall from here.
Know the top 5 gainer shares of Nifty on Wednesday
Shares of Tata Steel today closed at Rs 189.25 with a rise of Rs 6.68.
NTPC shares today closed at Rs 349.10 with a rise of Rs 11.20.
Shares of Axis Bank today closed at Rs 1,298.80 with a gain of about 36.80.
Hindalco shares today closed at Rs 955.35 with a rise of Rs 19.05.
ONGC shares today closed at Rs 248.23 with a rise of Rs 4.45.
Know the top 5 loser shares of Nifty on Wednesday
Shares of Kotak Mahindra today closed at Rs 421 with a fall of Rs 5.50.
Shares of Asian Paints today closed at Rs 2,813.90 with a fall of Rs 72.40.
TCS shares today closed at Rs 3,192.50 with a fall of Rs 75.50.
Maruti Suzuki shares today closed at Rs 16,152 with a fall of Rs 274.
Tech Mahindra shares today closed at Rs 1,588.50 with a fall of Rs 26.30.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.
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