Nifty 50, Sensex today: What to expect from the Indian stock market in intraday trade on Wednesday — 7 January 2026

Trade Set-up for January 6: The Indian stock market is expected to open on a flat to negative note on Wednesday, January 7, tracking mixed cues from Asian markets.

The early trends in Gift Nifty suggested a negative start for Indian indices, with GIFT Nifty trading at 26,214.5, down 67 points or 0.25% from the previous Nifty futures close.

“Indian equity markets are likely to open on a flat and cautious note today, tracking mixed global cues after a guarded start to the week. Rising geopolitical tensions and fresh tariff-related concerns have triggered profit-booking at higher levels, keeping risk appetite in check. As a result, the market is expected to remain largely range-bound, with stock-specific and sector-led moves dominating trade rather than a broad-based directional trend,” said Ponmudi R, CEO of Enrich Money.

On Tuesday, January 6, both the Sensex and Nifty 50 ended lower for the second consecutive day, as profit-taking weighed on markets despite supportive global cues.

The Sensex declined over 500 points, or more than 0.60%, to hit an intraday low of 84,900.10, while the Nifty 50 dropped 0.50% to a low of 26,124.75. Both benchmarks pared some losses by the close, with the Sensex finishing 376 points, or 0.44%, lower at 85,063.34, and the Nifty 50 ending down 72 points, or 0.27%, at 26,178.70.

Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:

Sensex Prediction

The Sensex exhibited weakness on 6 January 2026 and ended the session lower after intraday volatility. The BSE benchmark slipped from intraday highs and finished with a notable decline as selling pressure emerged, reflecting a loss of near-term upward momentum, according to Aakash Shah, Research Analyst, Choice Equity Broking Private Limited.

Sharing his technical view, Shah said, ” On the technical front, immediate resistance for the Sensex is placed near the previous session’s highs, which the index failed to sustain, while near-term support lies around the 84,500–84,600 zone, below which further consolidation could unfold. Immediate resistance is placed near 85,500, followed by 85,600, where selling pressure is likely to emerge.

Overall, the Sensex is likely to remain range-bound in the near term, with traders advised to focus on stock-specific opportunities rather than aggressive index bets.”

Nifty OI Data

On the derivatives front, Put OI remains dominant at 26,000–26,100, reinforcing this area as a strong base, the market expert said.

“Call writing is visible in the 26,300–26,500 zone, marking the immediate resistance band. A decisive close above 26,300 could trigger short covering and lead to momentum acceleration. Near-term bias remains neutral to mildly bullish, favoring a buy-on-dips approach as long as 26,000 holds,” said Ponmudi of Enrich Money.

Nifty 50 Prediction

Nifty ended the previous session with a late recovery tone, despite intraday consolidation.

On the Nifty 50 outlook, Ponmudi said, “The index continues to hold comfortably above its 20-day EMA (26,075) and the rising short-term trendline, preserving the broader bullish structure. Momentum indicators remain supportive. RSI is placed in the 55–60 zone, indicating healthy momentum without signs of exhaustion, while MACD remains in positive territory, though the flattening histogram points toward consolidation rather than a trend reversal.

From a price-structure perspective, a sustained hold above 26,150–26,200 keeps the path open for a retest of 26,300, followed by 26,450–26,500. Immediate support is placed at 26,100–26,000, aligning with prior breakout levels and short-term moving averages—any dips into this zone are likely to attract buying interest.”

Bank Nifty

Bank Nifty settled near 60,118, consolidating close to all-time highs after a strong recent up-move, on Tuesday, January 6.

“The index remains well above its key moving averages, confirming underlying strength. The 20-DMA and rising trendline support near 59,800–60,000 remains a critical demand zone. RSI continues to stay above 60, reflecting strength, while MACD remains positive, indicating that the broader trend is intact despite short-term consolidation.

On the upside, 60,300–60,500 emerges as the immediate resistance zone, marked by fresh Call writing. A decisive breakout above 60,500 could open the door for 61,000–62,000 in the near term. The outlook remains bullish above the 60,000 mark, with Bank Nifty well positioned for potential outperformance, supported by sustained banking inflows, leadership from PSU banks, and stable asset quality expectations,” Ponmudi added.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.