Highlights

  • Nifty 50 closes 0.49% lower
  • Nifty Auto sees 1.54% drop
  • Nifty IT gains 0.40%, showing optimism

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Indian stock market sector-wise performance today - January 24, 2025

On January 24, 2025, India's national stock indices showed varied performances, with Nifty Energy and Nifty Auto experiencing notable declines. Nifty FMCG gained 0.52%, while Nifty Bank and Nifty Metal recorded negative trends.
Indian stock market sector-wise performance today - January 24, 2025

January 24, 2025, was one of those days where the stock market just couldn’t make up its mind. Some sectors were on a bit of a downslide, like Energy and Auto, while others like FMCG managed to stay positive.

It was a bit of a mixed bag overall, with the Nifty indices giving us a lot to think about.

But don’t worry, we’ve broken down the details on how things went down and what the numbers are really saying about where things might head next. Let’s dive in!

In this article, we analyze the performance of key national indices including the Nifty 50,Nifty Bank,Nifty IT,Nifty Auto,Nifty Pharma,Nifty FMCG,Nifty Infra,Nifty Energy and Nifty Metal.

Nifty 50 Technical Analysis for January 24, 2025

The Nifty 50 experienced a decrease on January 24, 2025, with a percentage change of -0.49% and a points change of -113.15. The stock closed at 23092.20, reflecting a contraction from the previous close of 23205.35.

Technical Indicators

The 50 EMA (Exponential Moving Average) for Nifty 50 is 23574.51, which is above the current closing price, indicating a bearish sentiment in the medium term. Similarly, the 200 EMA is at 23695.44, reinforcing the long-term bearish outlook as the index remains below this level.

The RSI (Relative Strength Index) stands at 36.46, which suggests the market is near the oversold territory, without yet reaching extreme levels. This indicates that although the market is experiencing a downtrend, a reversal could be imminent if the RSI continues to decline towards lower levels.

The MACD (Moving Average Convergence Divergence) value comes in at -177.84, with a MACD Signal of -166.67. This negative MACD reading signifies bearish momentum, with the MACD line below the signal line, highlighting ongoing downward momentum in the index.

Market Sentiment

The current technical indicators suggest that the Nifty 50 is in a downtrend. The fact that both the 50 and 200 EMA are above the current closing price, combined with a negative MACD, supports a continuation of bearish sentiment. Additionally, the RSI, while not at an extreme oversold level, signals a potentially weak market. The MACD and RSI together indicate that the market could potentially continue its downward trend unless a significant reversal occurs. The RSI suggests that although the market is heading toward an oversold status, it's not there yet, which might imply some caution before expecting a reversal.

Technical Analysis of Nifty Auto on January 24, 2025

The Nifty Auto index witnessed a notable decline on January 24, 2025. The stock registered a percentage change of -1.54%, reflecting a points change of -347.90 in its value, closing at 22,171.05 thereby underlining a bearish sentiment in the market.

Technical Indicators

The 50-day Exponential Moving Average (EMA) for Nifty Auto is positioned at 22,943.27, while the 200-day EMA stands at 23,036.77. The current closing price being below both these EMAs suggests a potential bearish trend, indicating sustained pressure on the index.

The Relative Strength Index (RSI) is recorded at 36.49, which is below the neutral level of 50. This low RSI value highlights the prevailing bearish momentum and indicates that the index might be moving towards an oversold region, signaling potential weakness in the market trajectory.

Moving on to the Moving Average Convergence Divergence (MACD), the reading stands at -206.81, with the MACD Signal line at -138.09. The negative MACD and MACD Signal point to bearish market conditions, reinforcing the downtrend suggested by the EMAs and RSI readings.

Market Sentiment

Analysing the technical indicators collectively paints a picture of a market experiencing a downtrend. The Nifty Auto index is evidently under pressure, as exhibited by the stock’s position below the significant 50-EMA and 200-EMA lines. The negative MACD further supplements this observation, affirming the bearish sentiment. The RSI lingering below 50 supports the conclusion of a weakened market stance, indicative of selling pressure outweighing buying interest.

In conclusion, Nifty Auto’s technical indicators signal a bearish outlook, with vital trends pointing towards market weakness and selling prevalence continuing to drive the index's movement.

Technical Analysis of Nifty Bank - January 24, 2025

The Nifty Bank index witnessed a day of subdued activity on January 24, 2025. With a percentage change of -0.455% and a points change of -221.20, the index closed at 48,367.80. Investors observed the fluctuations closely, attempting to glean insights from key technical indicators.

Technical Indicators:

50-Day EMA: The 50-day Exponential Moving Average (EMA) for Nifty Bank stands at 50,025.81. The current closing value of the index is below this level, suggesting a short-term bearish sentiment.

200-Day EMA: The longer-term 200-day EMA is recorded at 50,450.88. The price being below this moving average further confirms the lack of upward momentum, indicating a potential long-term downtrend.

RSI: The Relative Strength Index (RSI) is at 34.76, which is below the common threshold of 50, often considered a neutral point. This number places the Nifty Bank in oversold territory, implying possible undervaluation or buildup of selling pressure.

MACD: The Moving Average Convergence Divergence (MACD) line reads -611.34, while its signal line is at -600.90. The MACD being below its signal line suggests persistent bearish momentum, reinforcing the downward trend observed in current market movement.

Market Sentiment:

The performance of Nifty Bank on January 24, 2025, reflects a primarily bearish sentiment. Breaking it down, the indices being below the 50 EMA and 200 EMA are clear indicators of a prevailing downtrend, and this is confirmed by the negative figures in both the MACD and its signal line. The RSI value being below 50 and approaching oversold levels suggests that investor sentiment is particularly cautious. The MACD, coupled with a low RSI, helps traders recognize an overall negative market sentiment, hinting at possible continued weakness and a lack of bullish reversals in the near term.

Nifty Energy Analysis - January 24, 2025

The Nifty Energy index experienced a noticeable decline today. The percentage change for Nifty Energy was -1.78%, with a significant point drop of 603.05 points. This move has led to a closing value of 33,263.55 for the index.

Technical Indicators:

50 EMA: The 50-day Exponential Moving Average (EMA) for Nifty Energy is currently at 34,750.41. This value is markedly higher than the current close, suggesting that the index is trading below its short-term average, often interpreted as a bearish sign.

200 EMA: The 200-day EMA stands at 35,010.72. Like the 50 EMA, the index is also trading below this long-term indicator, which further supports the bearish outlook for Nifty Energy.

Relative Strength Index (RSI): The RSI is currently at 35.93. RSI values below 30 are typically seen as oversold conditions, and values above 70 are viewed as overbought. A reading of 35.93 indicates that Nifty Energy is approaching oversold territory, which might suggest limited downside potential or a possible rebound.

MACD and MACD Signal: The MACD value is -369.71, while the MACD Signal line is at -338.41. The negative MACD value indicates bearish momentum. When the MACD is below the signal line, as it is currently, it suggests that the downward trend could continue.

Market Sentiment:

Based on the technical indicators, Nifty Energy appears to be in a downtrend. Trading below both the 50 EMA and 200 EMA reinforces the bearish trend. The RSI near oversold levels indicates weakness, though it also suggests the potential for a reversal if buying interest picks up. The MACD's position below the signal line confirms the bearish sentiment, indicating that sellers currently have the upper hand.

Overall, the technical analysis for Nifty Energy signals a cautious stance for traders and investors, as the current market dynamics reflect a bearish phase with potential for upcoming consolidation or minor recovery if oversold conditions trigger a buying response.

Stock Analysis for Nifty FMCG on January 24, 2025

Nifty FMCG opened at 55,908.95, reached a high of 56,359.45, and hit a low of 55,679. Closing at 56,069.35, the index posted a % change of 0.52% or a points change of 287.55 from the previous close of 55,781.80.

Technical Indicators:

Examining the technical parameters for Nifty FMCG, the 50-day Exponential Moving Average (EMA) stands at 56,290.05, while the 200-day EMA is 56,364.32. The closing value remains slightly under both the 50 EMA and the 200 EMA, suggesting persistent downward pressure within a broader timeframe.

The Relative Strength Index (RSI) is at 47.88, positioned below the mid-level of 50, indicating a mildly bearish momentum, although not in oversold territory.

The Moving Average Convergence Divergence (MACD) is -208.76, with a Signal Line of -159.80. The MACD being lower than the Signal Line suggests a bearish crossover, strengthening the bearish sentiment.

Market Sentiment:

The performance of Nifty FMCG, as deciphered through its technical indicators, projects neutral to slightly bearish sentiment. Being below significant moving averages such as the 50 and 200 EMA highlights a potential downtrend in the market. In terms of momentum indicators, the RSI around 47.88 reflects neither an oversold nor an overbought market, leaning towards a mild bearish inclination. The divergence presented by the MACD further corroborates a lack of bullish drive, giving way to possible sustained downward pressure.

Nifty IT: Technical Analysis for January 24, 2025

The Nifty IT index closed at 43,524.10 on January 24, 2025, reflecting a positive change of 0.40% or a points increase of 172.35 from its previous close of 43,351.75. This rise indicates a mild optimistic sentiment among traders for the IT sector.

Technical Indicators:

The 50-day Exponential Moving Average (EMA) for Nifty IT stands at 43,604.78, which suggests the index is trading slightly below this level, signaling potential weakness or consolidation. The 200-day EMA is 43,833.79, and currently, the index is also under this long-term average. Such positioning often implies that the index is still in a broader downtrend.

The Relative Strength Index (RSI) is at 49.72, hovering near the neutral 50 level, suggesting that the index is neither in overbought nor oversold territory. This shows a balanced sentiment where traders are yet to take a strong directional stance.

Looking at the Moving Average Convergence Divergence (MACD), which is at -311.86 with a signal line of -339.52, we observe a scenario where the MACD line is above the signal line. This indicates a possible reversal into a bullish trend, although given the negative territory, caution is advised.

Market Sentiment:

Based on the technical indicators, the Nifty IT index appears to be experiencing some short-term positive momentum, as reflected by the slight gain and the MACD signal. However, with the index trading below both the 50 EMA and 200 EMA, the overall trend remains bearish. The RSI's neutral position further supports an indecisive sentiment among market participants.

In conclusion, the current analysis of the Nifty IT index suggests a cautious approach. While there are early signs of recovery with a positive day, the overall technical setup warrants careful monitoring, especially if the index continues to trade below its significant moving averages.

Nifty Infra Technical Analysis as of January 24, 2025

The Nifty Infra, represented by the stock symbol CNXINFRA, experienced a downturn in today's trading session. The stock observed a percentage change of -0.85% with a points change of -71.05 points, closing at 8243.65.

Technical Indicators

Analyzing the technical indicators for Nifty Infra, we focus on the 50 EMA, 200 EMA, RSI, and MACD:

50 EMA: The 50-day Exponential Moving Average (EMA) stands at 8428.70, indicating that the current price of Nifty Infra (8243.65) is below this average. This suggests a bearish sentiment over the intermediate time frame.

200 EMA: The 200-day EMA is currently at 8478.07, demonstrating that the price is also below this long-term average. This further reinforces the notion that the market sentiment remains bearish over the longer term.

RSI: The Relative Strength Index for Nifty Infra is at 39.82, which is below the neutral 50 mark. This low RSI value suggests that the stock might be experiencing some downward pressure and approaching oversold conditions, albeit not quite there yet.

MACD: The Moving Average Convergence Divergence (MACD) indicator is at -59.69, with a signal line of -65.09, indicating that the MACD line is above the signal line. While this crossover is generally considered a bullish signal, the negative MACD values still suggest an overall bearish momentum.

Market Sentiment

Evaluating the performance of Nifty Infra using the technical indicators above, it's clear that the market has been in a downtrend. The price trading below both the 50 EMA and 200 EMA indicates the weakness of the stock across both medium and long-term periods. The RSI value reinforces this bearish sentiment as it hovers below the midline, suggesting that sellers are currently in control. Although the MACD signal provided a potential bullish crossover, the prevailing negative values for both MACD and the overall market movement keep the downtrend in focus.

Nifty Metal Technical Analysis – January 24, 2025

The Nifty Metal index witnessed a marginal decline on January 24, 2025, experiencing a points change of -76.75 points. This translates to a % change of -0.901%, indicating a slight bearish sentiment.

Technical Indicators:

The 50 EMA (Exponential Moving Average) for the Nifty Metal stands at 8621.86. This value signifies an important resistance level for the index, above its current Close of 8438.80. The 200 EMA is positioned even higher at 8702.52, suggesting a longer-term bearish trend that the index has been unable to surpass.

The Relative Strength Index (RSI) is recorded at 41.76, putting it below the 50 mark. Typically, this indicates that the stock might currently be in an oversold condition, pointing towards potential weakening momentum. It suggests cautious sentiment among traders.

The MACD (Moving Average Convergence Divergence) shows a value of -73.70, with a MACD Signal of -101.53. A MACD value that is higher than the signal typically indicates a downtrend, evidenced by the negative crossover where the MACD line is below the signal line, confirming bearish momentum in the short term.

Market Sentiment:

The performance of the Nifty Metal on January 24 showcases a market primarily in a downtrend. This is evident from the technical indicators, particularly the 50 and 200 EMA values being above the closing price. Additionally, the RSI's positioning below 50 points to a weakened or bearish market sentiment, which traders often perceive as a signal to be cautious.

The MACD's negative stance further corroborates the downtrend, providing traders with insights into short-term bearish pressure. Together, these indicators depict a scenario where Nifty Metal was likely faced with selling pressure or limited buying interest, continuing its journey in a downward trajectory.

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