Nifty, Bank Nifty: Key Levels & Outlook for Jan 8 Trading Amidst Consolidation

• Nifty 50 maintained consolidation with a negative bias for the third day, forming a Doji candlestick, indicating indecision.
• Nifty needs to surpass and hold above 26,200 for new highs; crucial support is at 26,000.
• Bank Nifty formed a small bearish candle but showed strong buying interest at lower levels, indicating mild consolidation with a positive underlying structure.
• Nifty Call options show maximum resistance at 26,500; Put options indicate strong support at 25,500.
• India VIX (fear gauge) fell to 9.95, signaling no major risk for bulls, despite some short build-up in 59 stocks.

Why It Matters: Nifty and Bank Nifty show consolidation; key levels and options data crucial for Jan 8 trading.