Market Outlook & Technical View – 9 January 2026

📉 Overall Market Sentiment Indian equity markets witnessed strong selling pressure in the previous session, extending the losing streak. Benchmark indices closed near day’s lows as global uncertainty, persistent FII selling, and volatility ahead of key US economic data weighed on sentiment. India VIX rose above the 10 mark, indicating elevated near-term volatility. Markets are expected to open flat to mildly positive, but overall bias remains range-bound to cautious, with high stock-specific action. 🔎 Index Technical Setup Nifty 50 Nifty formed a bearish candle and continues to make lower highs and lower lows over the last three sessions, indicating weakness. Key Levels: Support: 25,700 → 25,600 Resistance: 26,000 → 26,150 As long as Nifty remains below 25,950, downside pressure may persist. Sensex Sensex closed below its short-term moving averages and continues to form lower lows, reflecting sustained selling pressure. Key Levels: Support: 83,900 → 83,600 Resistance: 84,500 → 85,700 Bank Nifty Bank Nifty showed intraday recovery but failed to sustain higher levels, ending with a bearish structure. Key Levels: Support: 59,500 → 59,250 Resistance: 60,000 → 60,250 Trend remains weak below 59,750. 🧮 Derivatives & FII Data Snapshot Nifty Put-Call Ratio declined, indicating cautious to bearish sentiment Call writing seen at higher levels, suggesting resistance zones FIIs remained net sellers, while DIIs continued buying Short buildup observed in index futures and select sectors Overall derivatives data suggests a broader range of 25,400 – 26,400, with an immediate trading band of 25,700 – 26,100. 🏭 Sector-Wise Outlook ✅ Positive Bias Sectors Defence & Aerospace – Expectations of higher defence spending amid global tensions Capital Goods & Engineering – Policy developments may improve order inflows Public Sector Infrastructure & Railways – Strong order visibility Power & Energy – Long-term capacity expansion themes Banking (Select Private & PSU) – Stock-specific strength Pharmaceuticals (Selective) – Regulatory approvals supportive ⚠️ Weak / Cautious Sectors IT Services – Profit booking in global tech Oil & Gas Marketing – Crude volatility Consumer Discretionary – Valuation concerns Metals (Near term) – Volatility driven 🌍 Global Market Cues US Markets: Mixed; strength in old-economy stocks, pressure on tech Asian Markets: Mixed trend, investors cautious ahead of US payroll data European Markets: Marginally positive Gold: Stable amid strong dollar Crude Oil: Firm on geopolitical concerns and inventory decline 📌 Key Themes to Watch US Non-Farm Payrolls data Defence manufacturing & capital goods activity Volatility driven, stock-specific trading Continued monitoring of FII flows ⚠️ Important Disclaimer This content is strictly for educational and informational purposes only. We are NOT SEBI registered. This is not investment advice or a recommendation to buy or sell any securities. Stock market investments are subject to market risks. Please consult a SEBI-registered financial advisor before making any investment decisions.