Crude oil price sinks 5% after Trump eases Iran concerns- Daily Market Update 16th Jan 2026

Benchmark Nifty index ended lower at 25666 spot levels after a cut of 67 points from its previous closing values.

Broader markets outperformed the benchmark as Mid and Small cap indices ended on a slightly positive note.

Performance on the sectoral front was mix. Amongst them, Metal index was the top performer gained 2.70% followed by PSU Banks and Mid Small Financial Services index that gained 2.13% & 1.46% respectively. On the flip side, IT index was the top loser, fell over 1% followed by Auto, FMCG, Realty and Consumer Durables that fell in range 0.5% to 0.95%.

Following recent Double Top formation breakdown on Jan 9, 2026, Nifty index is hovering between its 2-Month and 6-Month EMA on charts. Short term chart structure is negative by the time Nifty index is trading below 25950-26000 zone on closing basis. Intraday supports are placed around 25600-25520 spot levels and intraday resistances are around 25800-25880 spot levels

Derivatives Overview & Outlook

Last Wednesday, Finnifty futures shed around 2.5% of open interest as long unwinding. No significant changes were seen among Nifty and Midcapnifty futures on open interest front while Banknifty futures added 1% of open interest without any change in prices.

Majority of F&O sectors settled on a positive note. Amongst them, Banking, Infrastructure, Newage, Oil & Gas and Power stocks witnessed maximum addition of long positions while some short buildup was seen among Capital Goods, Realty and Technology stocks.

On options front, call writing along with some put addition was seen at multiple OTM strikes. Nifty has maximum positions at 26000 CE followed by 27000 CE, while on the put side, maximum positions are at 24500 PE followed by 25000 PE.

Institutional Trading Activity

On Wednesday, FIIs sold stocks worth Rs 4781 Cr in the cash segment, bought stocks futures worth Rs 392 Cr and sold index futures worth Rs 232 Cr. DIIs were net buyers in the cash segment to the tune of Rs 5217 Cr.

Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels

Nifty – Resistances 25900-26020; Supports 25600-25500

Banknifty – Resistances 60000-60200; Supports 59500-59200

Finnifty – Resistances 27750-27900; Supports -27500- 27400

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