Quote on Nifty 16th January 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities
Below the Quote on Nifty 16th January 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities
"The Nifty index closed the session forming a bearish gravestone doji candlestick on the daily chart, while the RSI continues to remain in a bearish crossover, indicating underlying weakness. The index is currently consolidating with a bearish undertone between the 25,550–25,600 zone, where the 100-day SMA is placed and is being repeatedly tested, and the 25,850–25,900 resistance area. Traders may look to trade this defined range between 25,850 and 25,550. A sustainable bullish bias can emerge only after the index decisively reclaims its 50-day SMA. Immediate support lies at 25,550–25,600, while resistance is placed near 25,900.
In the short term, sentiment is likely to remain weak with potential for further downside. Support is placed at 25,600, below which a deeper correction may unfold. On the higher end, resistance is placed at 25,835."
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