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Below the Quote on Closing Market Summary 07th January 2026 by Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited

"Indian equity markets witnessed a cautious and range-bound session on Wednesday, with benchmark indices consolidating near recent highs amid mixed global cues and selective profit booking. The Nifty 50 ended marginally lower after intraday volatility, continuing to hover around the 26,000 zone, indicating a pause in momentum following the recent breakout.

The Nifty 50 opened on a subdued note and largely traded within a narrow band throughout the session, reflecting indecision at elevated levels. While the index faced selling pressure near higher levels, it continued to find buying interest on minor declines, suggesting that broader sentiment remains constructive. Sustaining above the 26,000 zone keeps the near-term structure intact, while 26,250–26,300 acts as an immediate resistance area. A stronger support base continues to remain near the 26,000–26,050 zone, which is expected to cushion any short-term weakness.

The Bank Nifty also traded in a consolidative manner, with heavyweight banking stocks witnessing mixed activity. The index managed to hold above its key short-term supports, pointing towards stability rather than any meaningful breakdown. Immediate support for Bank Nifty is placed at 59,700–59,800, while a stronger base lies near the 59,500 mark. On the upside, the 60,200–60,300 zone remains a crucial resistance, and a decisive move above this range could revive upside momentum.

Volatility stayed largely muted, with India VIX remaining in the lower band, reflecting stable near-term market expectations. Overall, market sentiment continues to remain positive but cautious, with consolidation likely to persist in the near term. Stock-specific action is expected to dominate, as participants remain selective at higher levels."

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