NIFTY Intraday Chart Analysis (January 8, 2026)
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Updated 42 days ago
Trend Overview
The NIFTY intraday chart exhibits a clear downtrend, characterized by lower highs and lower lows. The price consistently trades below the 50-period (blue) and 200-period (green) moving averages, indicating bearish momentum. Currently, the 50-period MA is around 26,100, and the 200-period MA is near 26,160, reinforcing the downward pressure.
Recent Price Action
Recent sessions have seen a series of declines with brief attempts at recovery, reflecting prevailing negative sentiment. A notable breakdown occurred around 26,050, followed by a slight consolidation, hinting at continued bearish control.
Volume & Momentum Analysis
Volume spikes, particularly around the breakdown at 26,050, reached approximately 1.08M, suggesting significant selling pressure. Sustained high volume during declines supports the bearish momentum, potentially indicating institutional selling.
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Key Support & Resistance Levels
Key support is evident around 26,000, a psychological level. Resistance is prominent near 26,160, coinciding with the 200-period MA, where sellers have repeatedly exerted influence.
Disclaimer: The views expressed here are based on a research analyst's analysis, and there is no guaranteed outcome. This material does not contain investment advice.
Hourly Market Snapshot – 03:00 PM IST
- NIFTY 50, Sensex
NIFTY 50 declines 1.20% to 25,510.05, while Sensex drops 1.30% to 82,647.52, reflecting widespread selling amid concerns over US Federal Reserve rate cuts and rising oil prices.
- Sectorial Highlights
All sectors are under pressure, with banking and auto stocks leading the decline, while defensive sectors like pharmaceuticals show slight resilience amidst the downturn.
- Stock Movers
Syngene International rises 1.4% to ₹433, while Carborundum Universal gains 1.2% to ₹840, as investors seek stability in select stocks despite broader market volatility. Investor sentiment is cautious, driven by significant sell-offs totaling approximately Rs 3 lakh crore, as market participants remain wary of macroeconomic developments and geopolitical tensions.
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