On 14th January, the Indian stock markets are expected to start negatively. GIFT Nifty is at 25,738, which is 53 points lower than the previous Nifty futures closing, thus pointing to a negative opening.

In the previous trading session, markets went down but were able to key on technical supports. The Sensex dropped 250.48 points or 0.30%, thus ending at 83,627.69, while the Nifty 50 was down 57.95 points or 0.22% and closed at 25,732.30.

However, the Nifty 50 managed to remain above the 25,700 level, indicating strong buyers' interest at lower levels.

Sensex Outlook

Technically, Sensex has not breached a key support level of 83,100-83,200, preventing it from a deeper correction. 

This support level remains a short-term floor. On the other hand, the upward movement is hindered by the resistance of 84,100-84,200, where selling has been observed in recent days. 

The inability to maintain above the key levels indicates that the market is in a neutral to cautious state. 

Market experts believe that if the support level does not break, then the selective buying on dips may be a suitable strategy.

Nifty 50 Outlook

The Nifty 50 formed a bearish candle with a long upper shadow, stressing the rejection at the 25,900-26,000 resistance zone. 

The options market indicates heavy call writing at 26,000 and strong put writing at 25,700, signifying a clear trading range. 

Immediate support is seen at 25,600, and then at 25,500, which remains a significant risk management level for traders. 

A move above 25,920, close to the 50-day EMA, could open the door to new upside towards 26,100 and beyond, while a breakdown below 25,600 might lead to short-term weakness.

Bank Nifty Outlook

The Bank Nifty finished at 59,578.80, an increase of 0.22%. The index formed a hammer-like candle on the daily charts that points to the presence of buyers at the lower levels.

The 59,100-59,300 is a significant support area as it coincides with the 23.6% Fibonacci retracement level.

On the other hand, the resistance remains at the 59,800-59,900 region. An upward movement over 59,800 may propel the index towards the 60,000-60,500 range, whereas a reversal will result in consolidation.

Also Read: US Stock Market Today: Wall Street Holds Near Records as Investors Weigh CPI Report and Earnings

Broader Market and Sector Trends

The midcap index declined by 0.2% and the small-cap index showed a rise of 0.6%, indicating a selective risk appetite. 

In terms of sectors, the IT, media, PSU banks, and metals were at the top, after getting support from stock-specific buying, while the sectors such as FMCG, capital goods, consumer durables, pharma, and realty were subjected to slight profit-taking.

After the US's fresh tariff announcements that raised uncertainty over global trade and possible spillover risks for India, the sentiment has turned cautious because of geopolitical concerns.