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Below the Quote on Closing Market Summary 06th January 2026 by Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited

Indian equity markets ended the session on 6 January 2026 on a negative note, reflecting profit booking at higher levels amid subdued sentiment. At the close, the Sensex declined by 376.28 points (0.44%) to 85,063.34, while the Nifty slipped 71.60 points (0.27%) to 26,178.70.

The Nifty 50 opened on a weak footing and attempted a recovery, scaling an intraday high of 26,273.95. However, the index failed to sustain higher levels and slipped below 26,150 due to profit booking. It later staged a modest rebound to close near 26,178, indicating bargain buying at lower levels and limited downside momentum. Immediate resistance is placed in the 26,300–26,350 zone, while key support lies at 26,000–26,050.

The Bank Nifty opened flat and moved higher to an intraday peak of 60,305, before slipping below 60,100. Buying interest at lower levels helped the index recover, allowing it to close at 60,118. The price action suggests consolidation with a positive undertone, despite temporary intraday weakness. Immediate resistance is seen at 60,400–60,500, while the 59,800–59,900 zone remains a critical support for near-term stability. On the daily chart, the RSI at 65.99 continues to rise, supporting a buy-on-dips strategy with strict stop-loss discipline.

Volatility remained subdued, with India VIX marginally lower by 0.005% to 10.01, indicating stable market expectations and an absence of panic. From a derivatives perspective, heavy call writing at the 26,200 strike establishes it as a key pivot and short-term resistance level. Going ahead, a sustained close above the 26,300 zone would be required to revive bullish momentum in the Nifty. Failure to reclaim this level may keep the market in a consolidation-to-corrective phase in the near term.

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