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Published on 22-01-2026 10:18 am

BANKNIFTY

* The banking index recorded a third consecutive negative session, driven by sustained profit booking.

* The index breached and closed below the 50-day DEMA, while holding above the 100-day DEMA, indicating a sideways momentum bias.

* Except for Federal Bank and IndusInd Bank, all constituents declined, with ICICI Bank and Canara Bank leading losses.

* Immediate resistance stands near 59,500, whereas crucial support is seen around 58,000.

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Published on 22-01-2026 10:17 am

NIFTY

* Nifty remained under pressure for yet another session and ended lower amid weak cues.

* Although some bargain hunting in select heavyweight stocks across sectors led to a mid-session rebound, the recovery lacked follow-through, and the index eventually closed at 25,157.50, down by 0.30%.

* Technically, the Nifty has closed near its long-term moving average, the 200 DEMA around the 25,150 level, after briefly breaching it intraday.

* In the current environment, a cautious stance is advisable, with preference for hedged positions and balanced exposure on both sides.

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Published on 22-01-2026 10:16 am

Technical

* Nifty remained under pressure for yet another session and ended lower amid weak cues.

* It struggled to hold crucial support levels in the initial hours and slipped close to the 24,900 mark.

* Although some bargain hunting in select heavyweight stocks across sectors led to a mid-session rebound, the recovery lacked follow-through, and the index eventually closed at 25,157.50, down by 0.30%.

* Technically, the Nifty has closed near its long-term moving average, the 200 DEMA around the 25,150 level, after briefly breaching it intraday.

* In the current environment, a cautious stance is advisable, with preference for hedged positions and balanced exposure on both sides.

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Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330

Published on 22-01-2026 10:14 am

Top News

* Tata Steel signed an MoU with the Jharkhand government at WEF Davos for an investment of over ?11,000 crore, focusing on green steel technologies, a combi mill, and tinplate capacity expansion, aimed at boosting sustainable manufacturing, employment, and industrial growth in the state.

* RBL Bank is set to see a change in ownership after the CCI approved Emirates NBD Bank’s acquisition of a majority stake in the lender through a $3 billion deal, clearing a key regulatory hurdle and paving the way for a mandatory open offer and stronger capital support.

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Published on 22-01-2026 09:18 am

Summary

Indian markets closed on a negative note where selling was mainly seen in PSU & Private Banks, Consumer Durables, Chemicals and Realty. Nifty Jan Futures closed at 25,178.20 (down 81.00 points) at a premium of 20.70 pts to spot.

The above second chart shows previous trading day’s change in Nifty options where Additions in OI were seen in 26000, 25900, 25300, 25200, 25100 strike Calls and at 25200, 25100, 25000 strike Puts indicating market is likely to remain Positive in the near term.

Highest OI build-up is seen at 26000 strike Calls and 25000 strike Puts, to the tune of 22.64mn and 16.89mn respectively.

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