Nifty 50, Sensex today: What to expect from Indian stock market in trade on January 29

livemint.com:

Catch Live Market Updates here Both the domestic benchmark indices dropped around 1.3% in the holiday-shortened week gone by. On January 25, the Sensex fell 359.64 points, or 0.51%, to 70,700.67, while the Nifty 50 ended 101.35 points, or 0.47%, lower 21,352.60. Nifty 50 formed a small negative candle on the daily chart with a minor lower shadow.

Also Read: Indian stock market: 7 key things that changed for market over the weekend - Gift Nifty, US GDP, inflation to oil prices “The current chart pattern indicates a sell-on-rise opportunity in the market with volatility. Negative chart patterns like lower tops and bottoms are intact and the recent upside bounce in the market could be in line with another lower top formation. But the lower top reversal needs to be confirmed at the highs," said Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities.

He believes the short-term trend of Nifty remains choppy with weak bias and could encounter strong resistance around 21,500-21,600 levels in the coming sessions. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Here’s what to expect from Nifty 50 and Bank Nifty today: A tough battle unfolded in the market as the Nifty 50 remained highly volatile on Thursday. “The sentiment may continue to lean towards the bears as the Nifty struggled to surpass the 21,500 mark, where call writers held substantial positions.