Highlights

  • Trading session marked a mixed sentiment with signs of recover
  • Indices exhibited varying degrees of strength evident in RSI and MACD readings
  • Overarching cautious sentiment prevails, awaiting healthier stabilizing signals

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Indian stock market sector-wise performance today - January 20, 2025

On January 20, 2025, the market displayed a mixed sentiment across various indices. Key indices such as Nifty Bank and Nifty Metal showed positive momentum, while others like Nifty Auto and Nifty FMCG experienced declines. 
Indian stock market sector-wise performance today - January 20, 2025

The national stock market indices showed varied performances on January 20, 2025, reflecting the economic sentiment.

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 - January 20, 2025

The Nifty 50, represented by the stock symbol NSEI, experienced a % change of 0.61% with a points change of 141.55 on January 20, 2025. The market opened at 23,290.40 and closed at 23,344.75.

Technical Indicators:

50 EMA: The 50-day Exponential Moving Average (EMA) for Nifty 50 stands at 23,721.75, considerably higher than the current close, indicating potential resistance and bearish sentiment in the medium term.

200 EMA: The 200-day EMA is currently 23,836.56. The fact that the Nifty 50 is trading below this long-term moving average suggests a prevailing downtrend unless there is a significant reversal.

RSI: The Relative Strength Index (RSI) is at 38.82, which is below the neutral level of 50. An RSI below 30 typically indicates an oversold condition, while an RSI above 70 suggests overbought conditions. The current RSI value suggests that the Nifty 50 is closer to being oversold, but not excessively so.

MACD: The Moving Average Convergence Divergence (MACD) is -183.12, with a MACD Signal of -165.31. The negative value indicates a bearish trend. The MACD being lower than the signal line confirms the downtrend, being in sync with other indicators like the 50 and 200 EMAs.

Market Sentiment:

The overall performance of the Nifty 50, based on the technical indicators, suggests a bearish market sentiment. Trading below both the 50-day and 200-day EMAs indicates a downtrend. The MACD also aligns with this bearish narrative as it registers lower than the MACD Signal line, further validating the negative trend. The RSI hovering below the midpoint of 50 suggests weakening momentum and confirms the bearish sentiment. Unless there is a strong reversal in market conditions, the Nifty 50 is likely to continue its current trend trajectory.

Nifty Auto Technical Analysis on January 20, 2025

The Nifty Auto index experienced a slight downturn on January 20, 2025, with a percentage change of -0.52% and a points change of -119.30. This performance reflects the overall volatility in the auto sector. The index closed at 22,671.80, down from its previous close of 22,791.10.

Technical Indicators:

50 EMA: The 50-day Exponential Moving Average (EMA) stands at 23,132.13, indicating a relatively higher level than the current closing price. This suggests that the market may be experiencing a short-term bearish trend as the index is below this significant moving average.

200 EMA: The 200-day EMA is at 23,198.10, which further reinforces the short to medium-term downtrend, as the current price is below this critical average. Typically, a price below the 200 EMA indicates bearish sentiment.

RSI: The Relative Strength Index (RSI) is at 40.83. RSI below 50 signals a bearish market sentiment. Although it is not in the oversold territory (RSI < 30), it suggests weakening momentum.

MACD: The Moving Average Convergence Divergence (MACD) is at -129.02, with a signal line at -85.13. The negative MACD value and its position below the signal line confirm bearish momentum, indicating increased selling pressure.

Market Sentiment:

The technical indicators collectively suggest that the Nifty Auto index is currently in a downtrend. The position of the closing price below both the 50 and 200-day EMAs indicates a bearish phase. The RSI value further supports this perspective as it remains below the neutral 50 mark, implying declining market strength. Moreover, the negative MACD and its distance from the signal line highlight the prevailing bearish inclination.

Overall, the technical indicators suggest that the Nifty Auto is in a downward movement, and caution should be exercised. Traders and investors should closely monitor these indicators for potential changes in market sentiment.

Nifty Bank Technical Analysis for January 20, 2025

The Nifty Bank saw significant movement on January 20, 2025, closing at 49,350.80. The percentage change for the day was a positive 1.67%, with a points change of 810.20, indicating a moderately strong performance during the trading session.

Technical Indicators:

50 EMA: The 50-day Exponential Moving Average was at 50,513.17. The current closing price being below this level can indicate a bearish trend or a market consolidation phase.

200 EMA: The 200-day Exponential Moving Average was at 50,921.95, further suggesting possible longer-term bearish sentiment, given the closing price remains below this level.

RSI: The Relative Strength Index (RSI) stood at 40.33. An RSI below 50 typically indicates bearish or weakening trends, but since it's still above 30, it doesn't suggest oversold conditions.

MACD: The Moving Average Convergence Divergence (MACD) was at -670.56, with the signal line at -637.45. The negative MACD value signifies bearish momentum. Since the MACD is below the signal line, it suggests a continuation of this trend.

Market Sentiment:

The technical indicators point towards a bearish sentiment in the short-to-medium term for the Nifty Bank. The closing price below both the 50-day and 200-day EMA suggests a continuation of the downward trend. The RSI at 40.33 is neither in oversold nor neutral territory, indicating that the market is not heavily sold off yet. However, it shows weakening upward momentum. The negative MACD further reinforces the current downtrend, as the indicator is below the signal line.

Overall, the Nifty Bank appears to be in a downtrend based on these technical indicators. Traders and investors should keep a close watch on these metrics for potential changes in market direction, paying particular attention to movements in the RSI and MACD as more prominent signals for trend reversals.

Technical Analysis of Nifty Energy on January 20, 2025

On January 20, 2025, Nifty Energy showed a positive performance with a percentage change of 0.82%, marking a points change of 284.45. Notably, the stock closed at 34,970.55, illustrating a substantial increase from its previous close of 34,686.10.

Technical Indicators

Analyzing technical indicators provides a deeper insight into the stock's trajectory:

50 EMA: The 50-day Exponential Moving Average (EMA) of Nifty Energy stands at 35,095.70. This indicates a point where short-term price movements are averaged out with increasing emphasis on recent prices compared to the 200-day EMA, suggesting a cautious optimism in the current market sentiment.

200 EMA: The 200-day EMA is recorded at 35,359.31, indicating the long-term trend for Nifty Energy. Currently, the stock price is below this level, implying that the longer-term trend may still exhibit resistance, despite short-term fluctuations.

RSI: The Relative Strength Index (RSI) is at 48.08. As a momentum oscillator, an RSI below 50 represents a somewhat neutral or weak buying momentum, neither oversold nor overbought. This neutral RSI suggests a lack of strong directional momentum.

MACD: The Moving Average Convergence Divergence (MACD) is reflective of a negative reading at -347.23, while the MACD Signal line is slightly lower at -404.48. The current MACD being higher than its signal line could indicate an emerging bullish crossover.

Market Sentiment

The performance of Nifty Energy based on the technical indicators shows mixed signals. The 50 EMA being below the 200 EMA generally signals a downtrend continuation, while an RSI close to the neutral 50 mark suggests stagnation in momentum. However, the slight incline in MACD above its signal line can be seen as a preliminary indication of potential bullishness ahead.

The market sentiment remains cautiously optimistic, given the crossing dynamics of the MACD and the contained RSI. This suggests the Nifty Energy may be on the verge of reversing its longer-term downtrend if supported by other positive movements in subsequent trading sessions.

Technical Analysis for Nifty FMCG on January 20, 2025

The Nifty FMCG closed at a value of 55,738.05, reflecting a slight decrease of 0.11% compared to the previous day's close of 55,800.85. This percentage change translates to a point reduction of 62.80 points.

Technical Indicators

The 50-day Exponential Moving Average (EMA) stands at 56,446.60, which is above the current closing price, indicating a potential resistance level. The 200-day EMA is at 56,500.43, also positioned above the closing price, further suggesting longer-term resistance and a need for strength to overcome upward movement challenges.

The Relative Strength Index (RSI) is recorded at 41.22. Typically, an RSI below 50 points to a bearish sentiment, suggesting that the market might be heading towards oversold conditions, but not quite there yet.

The Moving Average Convergence Divergence (MACD) indicator shows a value of -212.79, with the MACD Signal line at -76.65. The negative MACD value, below the signal line, signifies bearish momentum in the market.

Market Sentiment

Based on the technical indicators, Nifty FMCG appears to be in a downtrend. The 50 EMA and 200 EMA both sitting above the current price signal potential resistance, indicating that the stock could further struggle to find bullish momentum. The RSI near 41.22 suggests the market is not fully bearish but leaning towards it, as it approaches oversold territories.

The MACD also supports this sentiment, with its negative value below the signal line, which is characteristic of bearish momentum. This alignment between the RSI and MACD underscores the current bearish trend, suggesting investors proceed with caution or consider shorting opportunities until a recovery signal is observed.

Nifty IT

exhibited a positive performance on January 20, 2025, with a percentage change of 0.38% and a points change of 160.60. This performance reflects slight bullish momentum in the market.

Technical Indicators: The 50-day Exponential Moving Average (EMA) for Nifty IT is positioned at 43841.13, and the 200-day EMA is at 44051.05. The current close of 42192.80 being below both the 50 EMA and the 200 EMA suggests that the stock is trading below its longer-term average prices, indicating a potential downtrend.

The Relative Strength Index (RSI) stands at 36.60, which suggests that Nifty IT is nearing the oversold territory. An RSI below 30 is generally considered oversold, indicating that selling pressure might continue but could be poised for reversal.

The Moving Average Convergence Divergence (MACD) shows a value of -404.82, with the MACD signal line at -283.91. This negative MACD value compared to the signal line indicates a bearish trend, where the stock's momentum is declining.

Market Sentiment: Based on the technical indicators, Nifty IT appears to be in a slight downtrend due to the shorter-term moving averages being lower than the longer-term averages and the negation from the MACD histogram. The negative MACD and the RSI value close to oversold levels suggest a continued bearish sentiment, albeit with potential for a reversal if the RSI dips further. The MACD and RSI are critical in identifying such trends, with the MACD showing decelerating momentum and the RSI indicating that the stock might soon become attractive for buyers.

Technical Analysis of Nifty Infra on January 20, 2025

Stock Name: Nifty Infra

Percentage Change: The Nifty Infra demonstrated a 0.61% increase in value today.

Points Change: The index gained 50.95 points, reflecting a positive close.

Technical Indicators

50 EMA: The 50-day Exponential Moving Average (EMA) for Nifty Infra is at 8482.09. This level acts as a potential support/resistance and gives a sense of the asset's average price over the last 50 days.

200 EMA: The 200-day EMA is at 8534.59, which is traditionally interpreted as the long-term trend line. With the current closing price below this EMA, it suggests caution as the price is underperforming against its longer-term average.

RSI: The Relative Strength Index (RSI) is currently at 48.19. As an oscillator, the RSI at this level indicates a market that is neither overbought nor oversold. A reading below 50 often hints at slight bearish momentum, though it does rest near the neutral mark.

MACD: The Moving Average Convergence Divergence (MACD) indicator is at -71.06 with a MACD Signal line at -81.97. The MACD line is above the signal line, which can signal a potential bullish momentum reversal.

Market Sentiment

Evaluating the Nifty Infra's performance, technical indicators reveal a mixed sentiment. The index is trading below both the 50 EMA and 200 EMA, which traditionally suggests a short to long-term downtrend. However, the narrowing gap between the MACD and its Signal line, with MACD currently residing above, hints at a potential bullish crossover in progress. The RSI, being close to neutral, does not offer a strong directional cue but aligns with this mixed sentiment. Overall, the market appears to be in transition, where signs of bearishness are counterbalanced by hints of bullish reversals as reflected in the MACD indicator.

Nifty Metal Technical Analysis on January 20, 2025

The Nifty Metal displayed a positive movement with a percentage change of 1.08% and a points change of 91.65 points, closing at 8613.35. This upward movement highlights investor confidence in the metal sector for the day.

Technical Indicators:

The Nifty Metal is currently positioned between its 50-day Exponential Moving Average (EMA) of 8683.99 and the 20-day EMA of 8544.94. This situation suggests that while there is some recent bearish pressure, it hasn't been strong enough to override the longer-term bullish outlook implied by the 50 EMA. The 200-day EMA is at 8777.95, indicating a long-term bullish trend, albeit with some consolidation at current levels.

Relative Strength Index (RSI) sits at 47.43, which is just below the neutral 50 mark. This indicates that the Nifty Metal is neither overbought nor oversold, although it is slightly leaning towards bearishness. However, this needs to be corroborated with other indicators for a firm directional bias.

The Moving Average Convergence Divergence (MACD) is at -120.79 with a MACD Signal of -145.82. Despite being negative, since the MACD is above the signal line, it’s a sign that bearish momentum is weakening, suggesting a potential for a bullish reversal if supported by other forthcoming data.

Market Sentiment:

Based on the current technical indicators, the Nifty Metal seems to be in a phase of consolidation. The 50 EMA position suggests a bullish undertone, but the RSI at slightly below neutral and a MACD below zero (though improving) indicate that investors are cautious. The market isn't decisively in an uptrend, as seen by the MACD diverging negatively with potential to rebound. The RSI's position above oversold territories but below 50 confirms this consolidation or mild bearish sentiment.

In summary, while the Nifty Metal has shown some positive percent change and points gain, the overall technical analysis indicates a neutral to cautiously optimistic market sentiment. Investors would do well to stay informed on further movements and watch for a decisive break in either direction that would confirm trend reversal or continuation.

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