Daily
52 Weeks
Low
High
23090.65
23270.80
Open
23128.30
Prev.Close
23155.35
Volume
176477943
Gift Nifty is trading at 23133.50 , down by 41.00 points, indicating a Negative to Flat opening for Nifty.
Rupee Desk - USD/INR: Currently trading at 86.48
Short term - Technical Outlook
Nifty is expected to open on a flat to negative note today.The GIFT Nifty is trading slightly in the negative. However, uncertainty continues in the market due to U.S. President Trump's tariff policies, concerns over moderate corporate earnings, the falling value of the rupee, FII selling, and budget expectations, all of which are creating a panic situation in the market. Additionally, the U.S. is expected to publish its jobless claims data for the previous week today.
FII selling continues in the market, with a net sale of 4,026.25 crore yesterday, while DIIs bought 3,640.22 crore. FII selling for the month stands at 60,859.13 crore, while DIIs have bought 60,829.64 crore. Any change in this institutional activity could be very positive for the market.
In the last session, Nifty closed at 23,155.35, up by 130.70 points. Technically, momentum can be expected above 23,180 or below 23,060.
Short term Research Report Call
Buy above 23,180, target 23,270, 23,370, 23,500, stop loss 23,060.
Sell below 23,060, target 23,000, 22,910, 22,840, stop loss 23,180.
Short term Chart
Long term - Technical Outlook
Nifty is currently trading within a symmetrical triangle pattern, with the last session closing at 23,155.35.
FII selling continues in the market, with a net sale of 4,026.25 crore yesterday, while DIIs bought 3,640.22 crore. FII selling for the month stands at 60,859.13 crore, while DIIs have bought 60,829.64 crore. Any change in this institutional activity could be positive for the market. Additionally, uncertainty persists due to U.S. President Trump's tariff policies, concerns over moderate corporate earnings, the falling value of the rupee, and budget expectations, all contributing to market volatility.
The support level for Nifty is between 22,950–23,100, while upward momentum will require Nifty to stay above 23,500. Investors should monitor key price levels closely. If Nifty holds above 23,500, there could be an upside, but if it drops below the support range, a downside may follow.
Key events, including the Federal Reserve’s decision on January 30, 2025, the Indian Union Budget on February 1, 2025, and the RBI monetary policy review on February 7, 2025, may influence market trends.
Investors should focus on sectors like IT, Finance, NBFCs, Defence, Auto, Housing Finance, and Infrastructure.
Long term Research Report Call
Buy above 23,500: Targets 24,000 and 24,500; Stop loss: 23,300.
Sell below 23,000: Targets 22,800, 22,500, and 22,250; Stop loss: 23,300.
Long term Chart
January 23rd 2025
Resistance 23,500
Support 23,000
Particular
FIIs
DIIs
Net Purchase/ Sales (Cr)
22 Jan 2025
-4,026.25
+3,640.22
MTD-May (Cr)
January
-60,859.13
+60,829.64
Indian equities opened lower despite record gains in the US markets. At the start, the Sensex declined by 0.24% (181.4 points) to 76,223.59, while the Nifty50 dropped 0.2% (45.5 points) to 23,109.85. Broader markets showed a mixed trend, with the Nifty Midcap 100 trading higher and the Nifty Smallcap 100 slightly down. Sectorally, most indices were in the red, though the IT sector remained resilient, posting gains of over 1%. Among key movers, Wipro, UltraTech Cement, Tech Mahindra, Infosys, and M&M were top gainers, while HUL, Nestle, SBI, L&T, and Dr. Reddy's Lab were the main laggards.
Institutional activity continued to show sustained selling by foreign institutional investors (FIIs) and consistent buying by domestic institutional investors (DIIs). Large-cap stocks remained relatively resilient compared to the broader market, reflecting a trend toward quality stocks. Persistent high levels in the dollar index and US bond yields are expected to limit a market rally despite oversold conditions. Analysts anticipate heightened volatility in 2025, driven by key events such as the Federal Reserve meeting, the Union Budget, and state elections.
On the technical front, Nifty recently took support near 22,980, forming a hammer tweezer bottom candlestick, which indicates potential recovery toward the 23,350 level. However, sustained bullish momentum is expected only if Nifty closes above 23,500, aligning with the 21-day EMA. Short-term traders should focus on the 23,000–23,350 range, with 23,000 acting as strong support and 23,350–23,400 serving as a key resistance zone.
In the Asian markets, most stocks traded higher, tracking gains from US markets. Japan’s Nikkei rose ahead of the Bank of Japan meeting, while Chinese equities edged higher following government measures to support the market.
January 23rd 2025
USA
23rd January
USA
23rd January
UK
22nd January
GERMAN
22nd January
Singapore
23rd January
Japan
23rd January
China
23rd January
USA
23rd January
January 23rd 2025
ULTRACEMCO | 11,406.95 713.2 6.67 |
GRASIM | 2,458.95 70.8 2.96 |
WIPRO | 317.7 8.6 2.78 |
SHRIRAMFIN | 531 12.35 2.38 |
BPCL | 271.65 -5.95 -2.14 |
KOTAKBANK | 1,893 -24.5 -1.28 |
HCLTECH | 1,806.95 -20.75 -1.14 |
RELIANCE | 1,264.9 -12.2 -0.96 |
Check live levels for all scripts
Buy Above
23132.19
R1
23173.60
R2
23216.90
R3
23294.08
Stop Loss
23083.24
Pivot
23102.07
(All values are in INR)
Sell Below
23071.95
S1
23030.53
S2
22987.23
S3
22910.05
Stop Loss
23120.89
R4 | R3 | R2 | R1 | Pivot | S1 | S2 | S3 | S4 | |
Classic | 23531.85 | 23411.08 | 23290.32 | 23222.83 | 23102.07 | 23034.58 | 22913.82 | 22846.33 | 22778.85 |
Woodie | 23680.14 | 23437.72 | 23303.64 | 23249.47 | 23115.39 | 23061.22 | 22927.14 | 22872.97 | 22550.64 |
Camarilla | 23258.89 | 23207.12 | 23189.86 | 23172.61 | 23102.07 | 23138.09 | 23120.84 | 23103.58 | 23051.81 |
Bullish
Bearish
EMA
SMA
5 Day
20231.20
10 Day
19559.56
20 Day
19003.30
50 Day
18463.69
100 Day
18154.61
200 Day
17856.05
Stoch RSI
94.06
ROC
-2.00
Ultimate
46.04
Williams
-76.93
CCI
-74.35
Stochastic
13.84
RSI
69.48
Bullish
0
Bearish
2
Neutral
5
ATR
129.48
Low Volatility
MACD
281.40
Bullish
Bullish
1
Bearish
0
Neutral
0
Check all stocks
Stock Name | CMP | Change (%) | Market Cap (Cr.) | Sector | Piotroski Score |
RELIANCE | 1263.65 | -1.0532 | 1728490 | Oil & Gas | 7 / 9 |
TCS | 4145.45 | -0.2682 | 1502953.55 | Software & IT Services | 7 / 9 |
HDFCBANK | 604.5 | 1.0616 | 1273482.76 | Banks | 3 / 9 |
HDFCBANK | 1664.9 | -0.069 | 1273482.76 | Banks | 3 / 9 |
BHARTIARTL | 1636 | 0.2605 | 993382.6 | Telecom | 8 / 9 |
Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.
Analyst Certification: I/We, Ayushi Jain Research Analyst, authors, and the name subscribed to this report, hereby certify that all the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. NISM Research Analyst registration number – NISM-201900015194.