Nifty:26129.6/190.75/0.74%;Candle:OF;Long day green; Bank Nifty:59581.85/410.6/0.69% Candle:OF;Long day green ; HB:OF;Doji;993;RIL:OF;Long day green;1569;TCS:OGD;Long day red;3210;
Market wrap up(DWM,T,N,E):The Nifty 50 broke its four-day losing streak and negated the lower high–lower low formation of the previous three sessions, climbing decisively above the midline of the Bollinger Bands (i.e., the 20-day SMA at 25,987, which is close to 26,000) and closing 0.74 percent higher on December 31. This not only marked a healthy beginning to the January 2026 series but also brought the index back into momentum. Hence, as long as the index sustains above 26,000, 26,200—the immediate key resistance zone—remains the level to watch. Holding above it can open the door for a new high; however, the crucial support is now placed at 25,880, the low of the recent Doji formation, experts said. The Nifty 50 formed a long bullish candle with a minor upper shadow on the daily charts following the Doji pattern formation in the previous session, which ultimately confirmed a higher-bottom formation and the continuation of the larger-degree higher high–higher low structure. The index sustained above short-term moving averages and the midline of the Bollinger Bands. Momentum indicators also showed improvement, with the RSI rising to 56.07 and registering a bullish crossover. The Stochastic RSI and MACD climbed toward their reference lines, with weakness fading in the histogram. All this indicates strengthening bullish momentum. The Bank Nifty also reported a long green candle with a minor upper shadow on the daily timeframe and hit the upper Bollinger Bands after decisively breaking above the falling resistance trendline, signalling a healthy trend. The banking index convincingly climbed above the midline of the Bollinger Bands and short-term moving averages, indicating the beginning of momentum. Improvement was also visible in momentum indicators, with the RSI (60.07) and Stochastic RSI showing bullish crossovers, while the MACD moved toward its reference line with weakness fading in the histogram. All this indicates improving strength in the banking space.
