The Metal Index outperformed today, rallying over 2 percent
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 12 January 2026: Today, the benchmark indices witnessed a sharp recovery from the lower levels. The Nifty ended 107 points higher, while the Sensex was up by 302 points. Among sectors, the Metal Index outperformed today, rallying over 2 percent, whereas the Reality and Media indices shed over 1 percent. Technically, after an early morning intraday sharp selloff, the market took support near 25,500/82,700 and bounced back sharply. From the day's lowest point, the market bounced back over 300/1,200 points, which is largely positive.
We are of the view that the intraday market texture is positive, but buy on dips and sell on rallies would be the ideal strategy for day traders. On the downside, 25,650/83,500 and 25,600/83,300 would act as key support zones, while 25,900-25,950/84,300-84,500 could serve as immediate resistance areas for the bulls. However, below 25,600/83,300, sentiment could change. If that happens, traders may consider exiting their long positions.
