Market Plunges: Nifty, Bank Nifty Outlook for Jan 9 Trading

• Nifty 50 plunged over 1% on Jan 8, falling below key moving averages amid broad-based selling, indicating bearish control.
• Key Nifty levels: support at 25,500, resistance at 26,000; sustainability of any rebound is crucial.
• Bank Nifty also fell but showed resilience, holding above short-term moving averages despite a cautious undertone.
• Options data reveals Nifty resistance at 26,200 (Call OI) and support at 25,500 (Put OI); Bank Nifty resistance at 60,000, support at 59,500.
• Market sentiment is bearish with Nifty PCR at 0.66 and India VIX spiking to 10.6, signaling increased volatility.

Why It Matters: Indian markets face bearish sentiment; Nifty, Bank Nifty show key support/resistance levels for Jan 9.