Daily Technical Report 09th January 2026 by Axis Securities Ltd
Nifty closed at 25,877, down 264 points, forming a large bearish candle and registering a lower high–lower low structure. The index slipped below the previous session’s low, reflecting growing risk aversion amid U.S. tariff concerns. A decisive break below the rising trendline from 7th November and the 20-day moving average signals a near-term shift in momentum, opening downside potential toward the 25,700 zone.
Bank Nifty ended at 59,687, declining 304 points. The index formed a bearish candle with long shadows on both sides on the daily chart, highlighting heightened volatility and supply pressure at elevated levels.
Our trend score analysis of the Nifty and Bank Nifty suggests a bearish outlook for both benchmarks.
Kindly refer to the attached report for deeper insights, including pivot levels, key metrics, and a list of top gainers and losers.
NIFTY
Daily Pivots
BANK NIFTY
Daily Pivots
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