European Commission President Ursula von der Leyen on Tuesday signalled that negotiations between India and the European Union are approaching a significant phase, telling global leaders at the World Economic Forum (WEF) in Davos that the two sides are “on the cusp of a historic trade agreement” that could reshape global commerce and supply chains.
EU chief says ‘historic trade agreement’ with India soon- Daily Market Update 21st Jan 2026
Overview and Outlook
Global Stock Market Today
- US equity markets settled sharply lower in range 1.75% to 2.41%
- European equity markets also ended lower in range 0.60% to 1%.
- Majority of Asian equity markets are trading with a negative bias.
- GIFT Nifty is little changed, Nifty futures likely to open around 25270 levels.
Benchmark Nifty index ended sharply lower at 25232 spot levels after a cut of 353 points from its previous closing values.
Broader markets underperformed the benchmark as Mid and Small cap indices fell 2.62% & 2.85% respectively against 1.38% decline in the frontline index.
All sectoral indices, tracked at NSE, ended in red. Amongst them, Nifty Realty was the worst performer, down over 5% followed by Auto, IT, Health Care, Consumer Durables and Chemical index that fell in range 2% to 3% and rest of the indices were down over 1% each.
Nifty index has reached the 200-day EMA support (25162 spot levels), which coincides with the trendline support (25100 spot levels) of Triangle pattern it breached during its rise on Oct 16th, 2025. Going ahead, we expect prices to stabilize around the mentioned support zone of 25160-25100 spot levels. For any sustainable upmove, Nifty index needs to close above 25600 spot levels. On the flip side, sustained trading below 25100 might drag the index down towards 24900-24800 spot levels.
Derivatives Overview & Outlook
Yesterday, all index futures moved southward on short buildup. Nifty, banknifty, Finnifty and MidcpNifty futures added around 5.5%, 2%, 9% and 5% of open interest respectively.
All F&O sectors ended lower. Amongst them, Realty, Technology and Textile stocks witnessed maximum addition of short position along with some long unwinding among Power and Telecom Stocks.
On options front, Nifty will start the last weekly contract of the January series with maximum positions at 25000 PE and 26000 CE. Options data for current week expiry is negative but oversold; hence, possibility of some bounce back can not be ruled out at this juncture.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 2938 Cr in the cash segment, sold index futures worth Rs 1460 Cr also sold stocks futures worth Rs 259 Cr. DIIs were net buyers in the cash segment to the tune of Rs 3666 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 25500-25620; Supports 25180-25000
Banknifty – Resistances 59800-60200; Supports 59300-59000
Finnifty – Resistances 27350-27450; Supports -27100- 27000
F&O Security in Ban Today: SAIL & SAMMAAN CAPITAL
Important Results Today: BAJAJCON, BANKINDIA, DALBHARAT, DRREDDY, HINDPETRO, OFSS, PNBHOUSING & TATACOMM
Disclosure
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