Nifty50, Bank Nifty Hit Fresh Record Highs as PSU & Metal Stocks Power the Rally
Team Sahi
Nifty: 26,328.55 ▲ +0.70%
Sensex: 85,762.01 ▲ +0.67%
Bank Nifty: 60,150.95 ▲ +0.74%
Market Today: Record highs across the board — can the momentum hold?
Markets wrapped up the week on a strong note, with Nifty hitting a fresh all-time high and posting its biggest weekly gain in nearly two months. Bank Nifty and the Midcap index also scaled lifetime highs.
Market breadth stayed strong at 3:1, highlighting broad-based participation and healthy buying interest.
Structurally, Nifty has moved into uncharted territory, making its ability to hold above the breakout zone crucial. Sensex faces a key hurdle near 86,160, while Bank Nifty’s post-breakout structure remains firm, keeping the broader trend intact.
Key Levels to Watch for January 05, 2026
| Index | Support | Resistance |
|---|---|---|
| Nifty | 26,250 & 26,180 | 26,400 & 26,500 |
| Bank Nifty | 59,850 & 59,600 | 60,350 & 60,550 |
| Sensex | 85,400 & 85,200 | 85,950 & 86,150 |
Sector & Stock Moves: Where the action was?
PSU and metal stocks led the rally, supported by strong buying in PSU banks and power names. Coal India surged after opening up e-auctions to foreign participants.
Metal stocks extended gains as aluminium prices touched $3,000 on the LME, lifting NALCO, Tata Steel and JSW Steel.
Power and finance-linked stocks such as SJVN, IREDA, PFC and REC posted sharp gains, while IDBI Bank jumped on reports of financial bids.
FMCG stocks lagged, with ITC extending losses for a second session amid concerns around the excise duty hike.
NIFTY50: Top Gainers
- COALINDIA ▲ +6.85%
- NTPC ▲ +4.70%
- HINDALCO ▲ +3.44%
NIFTY50: Top Losers
- ITC ▼ -3.79%
- NESTLEIND ▼ -1.18%
- KOTAKBANK ▼ -1.02%
Open Interest Insights
Heavy put writing at 26,200 (1.16 Cr) is creating a strong support base. Call unwinding at 26,400 (-22.12L) and limited additions at 26,500 (32.15L) keep the PCR-OI elevated near 1.6.
What does this mean? Put writing signals downside support and confidence in holding lower levels, while call unwinding points to a stable-to-bullish structure.
Stocks on the Move
| Stock | % Gain / Loss | What’s happening? |
|---|---|---|
| IDBI | +10.57% | Cup & Handle breakout above 107, backed by strong volumes |
| COALINDIA | +6.85% | Accumulation turning into a decisive breakout; resistance near 430 |
| NLCINDIA | +6.19% | Follow-through move after inverse H&S breakout with volume support |
| NTPC | +4.70% | Breakout from consolidation near 342, confirmed by volumes |
| ITC | -3.79% | Selling pressure persists amid excise duty-related concerns |
News You Can Use
- Coal India allows direct participation of foreign coal buyers in e-auctions from January 1, 2026.
- BHEL gets relief as the Income Tax Department drops a ₹183.77 crore tax demand.
- December manufacturing PMI slips to 55.0, the lowest in two years.
- L&T bags orders worth up to ₹10,000 crore from SAIL.
Chart of the Day: IDBI (Weekly Timeframe)
Spotted: Cup & Handle
Structure: A rounded base followed by a brief consolidation, indicating absorption of supply after a sustained advance.
Validation: A decisive breakout above the handle resistance, ideally supported by rising volumes, confirms continuation.
Trading Insight: A classic continuation pattern where post-breakout moves often mirror the prior uptrend with strong momentum.
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