The Indian stock market opened the second trading session of 2026 with a calm but hopeful tone. Domestic investors are leading the move while foreign sellers are limited.
Market Outlook
Technical analyst Vaishali Parekh says sentiment is upbeat. The Nifty 50 index is sitting close to a short‑term hurdle at 26,200. A reversal pattern on the chart suggests the index could break above this level soon.
- Current support: around 26,000
- Key resistance: near 26,300
- Bank Nifty support: ~59,700; resistance: ~59,800
If the Nifty clears 26,200, it may keep climbing. If it drops below 26,000, the next support sits near 25,850.
Intraday Stock Picks
Parekh highlighted three stocks that look attractive for today’s trade:
- Finolex Industries – Buy at ₹173, target ₹182, stop loss ₹169. A rounding‑bottom chart pattern hints at a new uptrend.
- Astral – Buy at ₹1,420, target ₹1,480, stop loss ₹1,400. The stock appears oversold and may reverse upward.
- Samvardhana Motherson – Buy at ₹120, target ₹127, stop loss ₹118. Strong volume suggests a possible breakout around ₹123.
Gold and Silver Prices
On the Multi‑Commodity Exchange (MCX):
- Gold fell 0.08% to ₹1,35,690 per 10 g.
- Silver slipped 0.03% to ₹2,35,800 per kg.
What to Watch
Investors should keep an eye on:
- Domestic institutional buying, which continues to support the market.
- Foreign selling pressure, which could affect sentiment.
- Upcoming Q3 earnings, especially from consumer‑focused companies.
- Global market reopenings, like the Shanghai and US exchanges, after New Year holidays.
Disclaimer
These observations are for educational purposes only. They reflect the views of individual analysts, not guaranteed outcomes. Always do your own research or consult a certified financial advisor before making any investment decisions.