Auto Index was the top gainer, rallying 1 percent, whereas the FMCG index corrected sharply, shedding over 3 percent.
Shrikant Chouhan,
Head – Equity Research,
Kotak Securities
Mumbai, 1 January 2026: “Today, the benchmark indices witnessed a range-bound trading session. The Nifty ended 17 points higher, while the Sensex was down by 32 points. Among sectors, the Auto Index was the top gainer, rallying 1 percent, whereas the FMCG index corrected sharply, shedding over 3 percent. Technically, after a sharp rally today, the market experienced narrow-range activity. It also formed a small candle on the daily charts, indicating indecisiveness between the bulls and the bears.
We believe that the short-term texture of the market is upward, but a fresh uptrend rally is only possible after the dismissal of 26,200/85500. Above this level, the market could move up to the 26,300-26,350/85800-86000 range. On the flip side, 26,000/84800 and 25,950/84700 remain crucial support zones. Below 25,950/84700, the sentiment could change. If the market falls below this level, traders may prefer to exit their long positions.”
