India's stock market saw the Nifty index slip below a key support level, raising concerns for investors.
Market overview
The Nifty fell as global cues stayed weak. Selling pressure pushed the index under the lower band of its recent upward channel.
Technical support levels
The index broke the 25,880 support zone, which was the previous swing low. If it stays below this, the uptrend could weaken and the index may test the 25,600‑25,700 range. The short‑term 20‑day DEMA around 26,050 could act as an immediate ceiling.
Stocks to watch
- Bharat Forge: announced a partnership with Germany’s Agile Robots SE to develop AI‑driven robotics for automotive, healthcare and consumer electronics.
- BHEL: secured an order from Bharat Coal Gasification & Chemicals Ltd for coal‑to‑ammonium nitrate facilities in Odisha.
- Reliance Industries: said it may buy Venezuelan crude again if allowed to sell to non‑U.S. buyers, after pausing purchases in March 2025.
- NTPC: is evaluating at least 30 sites for new nuclear power plants as part of its clean‑energy expansion.
- Ashok Leyland: will open a new electric‑vehicle manufacturing plant in Lucknow on Jan 9, with several ministers attending.
- Alkem Laboratories: launched a hair‑growth therapy kit called Renocia, offering weekly nutritional supplements.
- Sagar Cements: plans to sell an 8.14% stake in its subsidiary Andhra Cements by Jan 12.
Remember, this is just an overview, not a prediction. Do your own research and consider your risk tolerance before making any investment decisions.