Trade Setup January 27: Nifty, Bank Nifty Show Bearish Signals, Key Levels to Watch

• Nifty 50 fell nearly 1% on January 23, closing below its 200 DEMA with above-average volumes, indicating weakness.
• Both Nifty 50 and Bank Nifty formed long bearish candles, with momentum indicators showing sell signals and trending downwards.
• Nifty 50's immediate resistance is at 25,160, with key support at 24,900; a fall below this could lead to 24,600-24,500.
• Bank Nifty broke the 58,800 support zone, with maximum Call OI at 60,000 and Put OI at 58,000.
• India VIX rallied to 14.19, its highest since June 2025, signaling increased market volatility and caution.

Why It Matters: Indian markets, Nifty and Bank Nifty, show bearish trends with key support levels to watch amid rising volatility.