Trump Sends Markets Wild amid 200, 89-DMA Pivot

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Chartists said that Nifty can attempt levels of 25450 and 25650 if global cues support recovery in markets

By S JHA

Mumbai, January 22, 2026 — Analysts predicted that US President Donald Trump feared market bloodbath most. They even said treasury yield spike in the US dreads Trump. They were proved right. Trump dropped the military bravado at Davos. The market cheered. The US bourses went soaring. Global markets said “thank you, Mr Trump.”

Tracking the bullish overtones, Indian markets went livewire at the stroke of the bell. The bulls pumped adrenaline. Indices soared.

In the mid-session, bulls retreated, Bears struck. They feasted on commentaries that NATO military leaders’ assurances to Trump to pass on pieces of land in Greenland were without the backing of Denmark.

Indices erased all gains in quick time. Market veterans also attributed the wild show on the street to the ways the big pockets handle expiry. This was the day of the Sensex weekly option expiry.

Sensex gave away gains of over 700 points. But bulls sniffed that the markets had bounced from the 200-DMA support. Nifty RSI had slipped below 25. That was the oversold market signal. They pulled their socks.

The tug of war grabbed the mid-session. But the last hour belonged to bulls. They raided the street with full force. They briefly broke the Nifty resistance at 25300. When they call the day, chartists raised the bar. Now, Nifty can aim the level of 25450 with obvious caveats.

“Nifty’s ‘Spinning Bottom’ pattern near the 200-DMA and prices closing near the upper end of this formation suggested an attempt by the bulls to stage a comeback,” noted Angel One in its market commentary shared with clients.

It warned that the “over the next few sessions due to ongoing geopolitical concerns, developments around the EU trade deal, and the approaching Union Budget, traders are advised to avoid complacency and remain selective to mitigate undue risk.”

“From a levels perspective, the 25100–25000 zone around the 200-DMA remains the immediate support, while Wednesday’s low near 24900 continues to act as a sacrosanct level. On the upside, retracement levels of the recent decline around 25475 (38.2%) and 25650 (50%), coinciding with the 89-DMA, are seen as immediate resistance zones,” added the Delhi-based brokerage firm.

(Disclaimer: This article makes no recommendation for any kind of trades in the stock market)