Quote on Closing Market Summary 05th January 2026 by Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited
Below the Quote on Closing Market Summary 05th January 2026 by Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited
Indian equity markets ended the session on 5 January 2026 on a negative note amid profit booking at higher levels after an early rally. At the close, the Sensex declined 322.39 points, or 0.38 percent, to settle at 85,439.62, while the Nifty slipped 78.25 points, or 0.30 percent, to close at 26,250.30.
The Nifty 50 opened strong and scaled a fresh all-time high of 26,373 but failed to sustain these levels due to increased selling pressure, sliding to an intraday low of 26,210. It breached the key support of 26,300 and eventually closed near 26,244, indicating a short-term bearish bias. Immediate resistance for the index is placed in the 26,400–26,450 zone, while support is seen at 26,200–26,150. The RSI eased to 58.09, signaling weakening momentum, while volatility picked up and heavy call writing at the 26,300 strike emerged as a crucial pivot level. Despite the near-term weakness, the broader buy-on-dips strategy remains intact as long as the index holds above 26,200.
The Bank Nifty also opened on a strong note and touched a fresh all-time high of 60,437 before witnessing profit booking at elevated levels, slipping below the psychological 60,000 mark to an intraday low of 59,859. However, the index recovered in the latter half of the session to close at 60,044, reflecting buying interest on declines. This price action suggests a phase of consolidation within an overall bullish trend. Resistance for Bank Nifty is placed at 60,300–60,400, while support is seen at 59,700–59,800. The RSI eased to 65.05, indicating mild cooling in momentum without any major breakdown signals.
Volatility remained elevated during the session, with India VIX rising 6.06 percent to 10.02. Going ahead, a sustained close above the 26,300 zone would be required to revive bullish momentum in the Nifty, while failure to reclaim this level could keep the market in a consolidation-to-corrective phase in the near term.
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