NIFTY Intraday Chart Analysis (January 8, 2026)
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Updated 22 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 – 03:01 PM IST
- NIFTY50, BSESENSEX
The NIFTY50 has declined 0.43% to 25,309.90, while the BSESENSEX is down 0.40% to 82,239.09, reflecting ongoing investor caution amid rising oil prices and a depreciating rupee.
- Nifty Metal
The Nifty Metal index has notably dropped over 4%, driven by profit booking in metal stocks, while the Bank Nifty shows resilience, down only 0.53% to 59,641.10, indicating some strength in financial services.
- NTPC
NTPC is currently down 1.5%, but analysts recommend it for its bullish technical formations, targeting ₹375, making it a potential rebound candidate in the energy sector. Investor sentiment remains cautious, with market participants awaiting the upcoming Union Budget announcement, which could introduce volatility and impact fiscal policy expectations.
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