The Nifty 50 continued its upward trend, closing slightly higher on January 1, with technical indicators suggesting potential for a breakout above 26,200 towards 26,350-26,400. Minor consolidation may persist, with support at 26,050-26,000. The India VIX reached a near all-time closing low, indicating a favorable environment for bulls. The Bank Nifty also saw range-bound trading but maintained its upward movement for a third consecutive session.