After volatile activity, the Nifty closed 132 points higher, while the Sensex gained 398 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 22 January 2026: Benchmark indices witnessed a volatile trading session. After volatile activity, the Nifty closed 132 points higher, while the Sensex gained 398 points. Sectorally, the Defence, and PSU Bank indices gained by more than 2%, while some Real Estate and Metal stocks witnessed selling pressure.
Technically, the market has formed back to back indecisive pattern, and that may keep the market volatile within the broader trading range of 25500 and 25000.
We believe that, given the intraday market volatility, traders need to be careful while trading at resistance and support levels. On the downside, 25,150/81900 and could act as key support zones, while 25,500/82900 and 25,600/83200 could act as key resistance levels for bulls. Below 25150/81900, Nifty could move towards 25000/81500. Reduce weak long positions between 25500-25600.
Gaurav Garg, Lemonn Markets Desk, reports:
“Indian equity markets ended Thursday with moderate gains after paring early advances, supported by positive global cues and easing geopolitical concerns. The Sensex rose about 0.5 percent and the Nifty gained around 0.5 percent in late trade after both indices surged over 1 percent in early sessions. Sentiment improved following US President Donald Trump’s withdrawal of tariff threats against the EU and his optimistic remarks on a potential India–US trade deal, which encouraged short-covering and risk-taking.
Gains were broad-based, with stocks such as Dr. Reddy’s Laboratories, Coal India and Adani Ports leading the Nifty50, while select defensives and insurers lagged. Broader markets outperformed, with midcap and smallcap indices rising over 1 percent, snapping recent losing streaks. Supporting factors included firm Asian markets, a softer India VIX indicating reduced volatility, recovery in the rupee, and a decline in gold and silver ETFs as investors rotated away from safe-haven assets.
On the technical front, note that while Nifty faced resistance near the 25,300 zone, consolidation could continue after the formation of a doji near key support levels. A sustained move above 25,300 is seen opening the door for further upside towards the 25,400–25,500 range.”
