Market Commentary (closing) for 19th January 2026 by Bajaj Broking
Below the Market Commentary (closing) for 19th January 2026 by Bajaj Broking
Market Closing Commentary
Indian equity benchmark indices ended in red on January 19th, as Nifty fell below 25,600. FII outflows and mixed Q3 earnings are keeping sentiment cautious, with stock-specific volatility. Global risk sentiment weakened after Trump’s fresh tariff threats on Europe, reviving U.S.–EU trade war fears and driving investors toward safe havens like gold. Most global equities slipped, though China showed resilience on strong macro data and export-led growth.
At close, the Sensex was down 324.17 points or 0.39 percent at 83,246.18, and the Nifty was down 108.85 points or 0.42 per cent at 25,585.50. All sectoral indices closed in the red, except FMCG. Media, Oil & Gas and Realty stocks were the worst performers, declining in the range of 1.5–2%. In the broader market, the Midcap index fell 0.4%, while the Small-cap index dropped 1%.
Nifty Outlook
The index continues to trade with high volatility amid geopolitical tension. On the daily chart, Nifty has formed a bearish candle with a lower high and lower low, highlighting corrective bias. Nifty is currently consolidating near its 100-day exponential moving average (EMA). On Monday’s session, the index managed to hold above last week's low of 25473, which will act as key immediate support. On the higher side, Monday’s gap-down area around 25700 will act as immediate resistance. While the key hurdle is placed at the 25,900–26,000 area, as it coincides with the last week's high, 20- and 50-day EMAs and the 61.8% Fibonacci retracement of last week’s decline. Overall, Nifty is likely to consolidate in the range of 25,400-26,000 in the coming sessions. A breach below 25,400 will signal extension of the decline towards 25200 levels in the coming weeks.
Bank Nifty Outlook
Index has formed a bearish candle which remained contained inside previous session price range signaling consolidation amid stock specific action. Bank Nifty continues to outperform with larger rallies and limited correction. Overall, in the last 7 weeks Bank Nifty continue to consolidate in a range of 60,400-58,700. Only a breakout or a breakdown will signal the next directional move in the index. Bank Nifty has immediate support at 59,300 levels while key short term support is placed at 58700-59000 levels being the lower band of the last 7 weeks range and 50 days EMA. On the higher side recent all time high of 60,200-60,400 remains key hurdle area.
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