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Below the Quote on Post market comment for Tuesday January 20 by Aakash Shah ,Technical Research Analyst, Choice Broking

Indian equity markets ended the session on January 20, 2026 on a sharply negative note after a volatile session marked by intense selling pressure and sharp intraday swings, reflecting heightened risk aversion in the absence of supportive triggers. At the close, the Sensex plunged 1,065.78 points, or 1.28 percent, to settle at 82,180.47, while the Nifty declined 353 points, or 1.38 percent, to close at 25,232.50.

The Nifty 50 opened weak and remained under sustained selling pressure throughout the session. The index decisively breached the crucial support level of 25,400 and slipped sharply to an intraday low of 25,171.50 before settling near 25,225, confirming the continuation of the ongoing corrective phase. Immediate resistance for the index is placed in the 25,350–25,400 zone, while the next key support is seen at 25,050–25,100. The daily RSI declined further to 29.34, indicating extremely weak momentum and elevated near-term downside risk.

The Bank Nifty also opened on a weak note and remained under selling pressure for most of the session. The index breached the key support level of 59,600, signaling a short-term breakdown and an increase in bearish pressure. Immediate resistance is seen in the 60,100–60,200 zone, while supports in the 59,700–59,800 range remain critical for any potential stabilization in banking stocks. On the daily chart, the RSI stands at 48.82 and is trending lower, reflecting weakening short-term momentum and a cautious near-term outlook.

Volatility picked up during the session, with India VIX rising 7.63 percent to 12.73, underscoring heightened caution and risk aversion among market participants. Derivatives data indicates heavy call writing at the 25,500 strike and significant put writing at the 25,100 strike, establishing this band as a key near-term pivot zone. Traders are advised to remain selective and adopt a cautious yet constructive approach near key support levels. Fresh directional positions should be considered only after a decisive breakout above the stated resistance levels.

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