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Below the Quote on Post market comment for Thursday January 22 by Hitesh Tailor, Research Analyst, Choice Broking

Indian equity markets ended January 22, 2026 on a volatile but positive note amid choppy trade and cautious sentiment due to lack of clear triggers. The Sensex gained 397.74 points to 82,307.37, while the Nifty rose 132.40 points to 25,289.90. Market breadth remained positive, indicating selective buying interest.

The Nifty 50 opened on a strong note and touched an intraday high of 25,435 but failed to sustain higher levels due to selling pressure at elevated zones. The index slipped below the 25,300 support, hit an intraday low of 25,168, and eventually closed at 25,289.90, indicating weak follow-through buying at higher levels. However, the Nifty managed to hold above its 200-day DEMA, highlighting underlying support. Immediate resistance is placed in the 25,400–25,450 zone, while key support is seen at 25,100–25,150. The daily RSI at 33.82 is trending upward, signaling a mild improvement in momentum.

The Bank Nifty also opened strong and surged nearly 850 points to an intraday high of 59,573.10 before witnessing profit booking that dragged the index below the 59,000 mark to an intraday low of 58,823. It later recovered to close at 59,200, indicating buying interest on declines and a phase of positive consolidation. Resistance for the index is placed at 59,500–59,600, while key support lies at 58,900–59,000. The daily RSI at 47 is rising, suggesting improving momentum, though traders are advised to wait for a decisive breakout before initiating fresh positions.

Volatility eased further, with India VIX declining 3.12 percent to 13.35, indicating reduced fear among market participants. Derivatives data shows heavy call writing at the 25,400 strike and significant put writing at the 25,200 strike, establishing this range as a key near-term pivot. Traders are advised to remain cautious near key support levels and wait for a confirmed breakout above resistance before taking fresh directional positions.

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