IGI Logo

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

Indian equities are poised for a cautious and subdued start on 20th January 2026, with key indices likely to reflect continued selling pressure, mixed earnings cues, and renewed geopolitical tensions. After Monday’s session saw weakness in heavyweight stocks and broader benchmarks, market sentiment remains skewed towards risk-off ahead of major global and domestic triggers.

The Nifty 50 closed lower at around 25,585 on 19th January, extending the recent consolidation below the 25,600–25,700 zone. Broader market breadth was negative, with mid-caps and small caps under-performing large caps as defensive buying in FMCG and auto failed to offset weakness in realty and oil & gas.

Immediate resistance for the Nifty is now anchored near 25,700–25,750, where rally attempts have repeatedly stalled. On the downside, 25,400–25,450 remains a critical support zone; a decisive break down here could invite further selling toward the 25,300–25,350 levels.

Bank Nifty exhibited relative resilience near 59,800–60,000, but hesitation around 60,000 underscores indecision in the banking complex. A break above 60,000 could revive short-term bullish sentiment, while a breach of 59,500–59,600 might signal extended consolidation.

FII flows continued to weigh on sentiment, with Foreign Institutional Investors (FIIs/FPIs) net selling Indian equities worth approximately Rs 3,263 crores on 19th January, while Domestic Institutional Investors (DIIs) bought around Rs 4,234 crores—offering some cushioning amidst the broader liquidation trend this month. For January so far, FIIs have been net sellers of ~Rs 26,000 crore, with DIIs countering with net purchases of ~Rs 34,000 crore.

On the volatility front, India VIX edged higher, indicating slightly elevated expected market swings amid risk-off positioning and reaction to global macro cues.

Above views are of the author and not of the website kindly read disclaimer