Quote on Post market comment for Tuesday January 27th by Aakash Shah ,Technical Research Analyst, Choice Broking
Below the Quote on Post market comment for Tuesday January 27th by Aakash Shah ,Technical Research Analyst, Choice Broking
Indian equity markets ended Tuesday’s session on a positive note, snapping the recent corrective trend as selective buying emerged across heavyweight stocks amid supportive global cues and earnings-driven optimism. Benchmark indices managed to close higher despite intraday volatility, reflecting improving sentiment as investors selectively accumulated quality names at lower levels while remaining mindful of ongoing foreign fund outflows and macro uncertainties.
The Nifty 50 opened on a firm note and gradually built on gains, supported by strength in banking, metals, and select index heavyweights. Despite brief intraday consolidation the index maintained buying interest and closed at the day’s high, reflecting strong demand and sustained positive sentiment, indicating a tentative stabilization after recent weakness. From a technical perspective, immediate support for the Nifty is now placed around the 25,000–25,050 zone, which remains a crucial level to maintain near-term stability. On the upside, a sustained move above the 25,300–25,350 band would be important to revive stronger upside momentum and signal a broader recovery.
The Bank Nifty outperformed the broader market and closed higher, led by buying interest in select private and PSU banking stocks following earnings-related developments. Despite intraday swings, the index maintained its upward bias, highlighting relative resilience within the banking space. Key support for the Bank Nifty is seen near the 58,900–59,000 zone, while the 59,500–59,600 region continues to act as an important resistance area. A decisive close above this band could pave the way for further upside in the near term.
Market breadth showed improvement compared to recent sessions, though participation remained selective, indicating that investors are still cautious while deploying capital. Sectorally, financials and metals provided support, while IT and select consumption stocks remained range-bound.
Volatility remained elevated, with the India VIX staying higher, suggesting expectations of continued intraday swings. Overall sentiment has improved modestly, but consolidation is likely to persist as market participants track Q4 earnings, FII flow trends, global developments, and key technical levels.
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