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Live: Nifty Rises for Second Day | US IT Slips | Defence Buzz on Macron Visit | Opening Bell

Indian equity benchmarks, Sensex and Nifty, are likely to see a positive start on February 18, following gains in GIFT Nifty, which was trading higher at around 25,754.50.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

Indian equity benchmarks extended their previous session’s gains on February 17, supported by broad-based buying across sectors with strong interest in IT, FMCG, and banking stocks. However, profit booking in metal, and realty counters capped the upside.

At close, the Sensex was up 173.81 points or 0.21 percent at 83,450.96, and the Nifty was up 42.65 points or 0.17 percent at 25,725.40.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

The GIFT Nifty is trading higher at around 25,754.50, indicating a firm opening for the day.

Asian Equities (Gain)

Asian stocks rose modestly in thin holiday trading after US equities whipsawed, with investors concerned about the outlook for AI following days of turbulence that pulled key gauges back from record highs.



US Equities (Up)

US stocks managed to eke out slight gains on Tuesday after struggling in the early stages of trading, as technology shares rebounded from earlier lows and financial stocks also provided support.

The Dow Jones Industrial Average rose 32.26 points, or 0.07%, to 49,533.19, the S&amp;amp;P 500 gained 7.05 points, or 0.10%, to 6,843.22 and the Nasdaq Composite gained 31.71 points, or 0.14%, to 22,578.38.



Dollar Index (Up)

The dollar edged higher for a second day as currency traders bet the Federal Reserve won’t be able to deliver three rate cuts in 2026.



US Bond Yield (Flat)

The US Treasury 10-year yield down marginally to 4.05%, while US Treasury 10-year yield was flat at 3.43% as volatility fell.



Asian Currencies (Fall)

Except Malaysian Ringgit, all other Asian currencies were trading lower in the early trade on Wednesday. However, on year-to-date basis, Malaysian Ringgit gained 4 percent, Japanese Yen added 2 percent.



Crude (Down)

West Texas Intermediate crude oil held its losses from the prior session on signs the US and Iran have made progress in nuclear talks.



Gold (Flat)

Gold fell below $4,900 an ounce as the dollar advanced amid thin holiday trading, with much of Asia
closed for the Lunar New Year. Silver also retreated.



Fund Flow Action

After remaining net sellers for the previous two sessions, Foreign Institutional Investors (FIIs) turned net buyers on February 17, purchasing equities worth ₹995 crore. Meanwhile, Domestic Institutional Investors (DIIs) extended their buying streak to the fourth consecutive session, acquiring equities worth ₹187 crore.



Hope you're all set for today's trade. We wish you a profitable day ahead.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Tick: Top global cues to watch in today’s trade

Stock Market Live Updates: Benchmark Indian equity indices Sensex and Nifty traded in the red on Wednesday morning, though both indices pared part of their early losses. At 11:02 am, the BSE Sensex was down 79 points, or 0.10 percent, at 83,372, while the NSE Nifty 50 slipped 20 points to 25,705. Market breadth remained positive, with 1,976 shares advancing against 1,572 declines. Metal stocks offered support, with Tata Steel rising nearly 3 percent and JSW Steel gaining over 1 percent, lifting the BSE Metals index by more than 1 percent. In contrast, IT stocks came under pressure, with Infosys, Tech Mahindra and Wipro declining, dragging the BSE IT index down around 1.6 percent. Broader indices were marginally higher, while India VIX eased over 2 percent, indicating softer volatility despite the benchmark decline.

Stock Market Live Updates: Sensex, Nifty trim early losses; off day’s lows as metals advance, IT drags

Live Blog

Stock Market Live Updates: Benchmark Indian equity indices Sensex and Nifty traded in the red on Wednesday morning, though both indices pared part of their early losses. At 11:02 am, the BSE Sensex was down 79 points, or 0.10 percent, at 83,372, while the NSE Nifty 50 slipped 20 points to 25,705. Market breadth remained positive, with 1,976 shares advancing against 1,572 declines. Metal stocks offered support, with Tata Steel rising nearly 3 percent and JSW Steel gaining over 1 percent, lifting the BSE Metals index by more than 1 percent. In contrast, IT stocks came under pressure, with Infosys, Tech Mahindra and Wipro declining, dragging the BSE IT index down around 1.6 percent. Broader indices were marginally higher, while India VIX eased over 2 percent, indicating softer volatility despite the benchmark decline.

Time and price correction in markets made valuations more comforting and in range with our long-term levels, Expect nominal GDP momentum to also pick up into the year, See earnings growth already improving into the double digit zone

* Time and price correction in markets made valuations more comforting and in range with our long-term levels
* Expect nominal GDP momentum to also pick up into the year
* See earnings growth already improving into the double digit zone

shorts/business/daily-voice-pillars-falling-into-place-earnings-poised-for-double-digit-growth-says-jitendra-sriram

* Time and price correction in markets made valuations more comforting and in range with our long-term levels
* Expect nominal GDP momentum to also pick up into the year
* See earnings growth already improving into the double digit zone

Jitendra Sriram, Senior Fund Manager at Baroda BNP Paribas Mutual Fund, said corporate earnings are beginning to move toward a double-digit growth trajectory.

In an interview with Moneycontrol, he noted that key macro and market fundamentals are aligning, creating the conditions for Indian equities to gain momentum in the latter part of the year.

On the growth front, he noted that weaker inflation in FY26 has made nominal GDP slightly softer. However, with base effects wearing off and global hard commodity prices firming up, he expects nominal GDP momentum to pick up as the year progresses.

Do you expect India to outperform other emerging markets later this year, now that the worst-case scenarios appear to be behind us?

It is no doubt, true that a lot of concerns gripping our markets have abated in the current quarter. Trade deals with the US &amp; the EU should help reduce any competitive disadvantages for our exporters. The time and price correction in markets visible since September 2024 has made valuations more comforting and in range with our long-term levels.

The main stumbling point in FY26 was the trajectory of corporate earnings growth which was muted to begin with. However, a combination of tax cuts (Union Budget of February 2025), good monsoons (May-September 2025), GST cuts (w.e.f September 2025) and successive rate cuts from the RBI (most recently in December 2025) has improved GDP growth and if we look at the evolving earnings growth, it is showing signs of pick up into the double-digit zone. One could argue that the fundamental pillars are falling into place for Indian market to start performing later into the year.

Do you believe the earnings recovery will be strong from here on?

Adjusted for one-off effects (new labour code etc), we see the earnings growth already improving into the double digit zone. Lag effects of softer monetary policy, the stimulus of GST rationalisation and the better prospects of manufactured exports post ratification of trade deals is expected to improve this earnings growth momentum further into the mid teens later into the year.

Will earnings growth be led by banks and NBFCs?

Multiple sectors are expected to benefit because of various stimuli. Consumer discretionary on GST rationalisation, metals on global price improvements, utilities from rising energy demand (data centre investments etc), certain exporters (textiles, marine products etc) because of trade deals etc. Banks &amp; NBFC’s as lenders to all these will be indirect beneficiaries.

Do you see strong investment opportunities ahead in the pharma and hospital segments?

Pharma was never directly impacted because of tariffs. However, the industry is evolving itself into CDMO, CRO and also making entries into higher margin areas such as peptide fragments which could expand the market for these players.

Hospitals have a different structure that is evolving. Internally for most of the listed universe we are seeing free cash starting to rise after years of investment. We are also seeing a lot of single hospitals folding into chains consolidating the industry both trends being positive for the industry.

Do you believe the GDP outlook has improved now that concerns around higher tariffs are behind us? Does this mean that 7 percent growth from next year onward cannot be ruled out?

In FY26 itself, the RBI has raised its GDP forecast by a cumulative 80bps from its forecast at the start of the year. This makes the 7% mark an achievable and sustainable target. Weaker inflation into FY26 had made the nominal GDP a little softer but with base effects wearing off, global hard commodity prices firming we expect nominal GDP momentum to also pick up into the year.

Is the US deal constructive for the rupee?

Markets are a function of not only the underlying earnings but also of sentiment. A high tariff (25% baseline and Russia specific 25%) could have made Indian exports uncompetitive, long run, fuelling negative sentiment. To that extent, the agreements on trade deals with 2 large trading blocs – the US and the EU will definitely alleviate concerns and lift sentiments that India would no longer be relatively disadvantaged versus its peers across major export items hence the momentum on exports can be back on rails.

The fact that each side is actively engaging for a resolution to these prickly issues is again sentimentally positive for currency markets and the Rupee.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Daily Voice: 'Pillars falling into place' - Earnings poised for double-digit growth, says Jitendra Sriram

Lag effects of softer monetary policy, the stimulus of GST rationalisation and the better prospects of manufactured exports post ratification of trade deals is expected to improve this earnings growth momentum further into the mid teens later into the year.

Jitendra Sriram, Senior Fund Manager at Baroda BNP Paribas Mutual Fund, said corporate earnings are beginning to move toward a double-digit growth trajectory.

In an interview with Moneycontrol, he noted that key macro and market fundamentals are aligning, creating the conditions for Indian equities to gain momentum in the latter part of the year.

On the growth front, he noted that weaker inflation in FY26 has made nominal GDP slightly softer. However, with base effects wearing off and global hard commodity prices firming up, he expects nominal GDP momentum to pick up as the year progresses.

Do you expect India to outperform other emerging markets later this year, now that the worst-case scenarios appear to be behind us?

It is no doubt, true that a lot of concerns gripping our markets have abated in the current quarter. Trade deals with the US &amp;amp; the EU should help reduce any competitive disadvantages for our exporters. The time and price correction in markets visible since September 2024 has made valuations more comforting and in range with our long-term levels.

The main stumbling point in FY26 was the trajectory of corporate earnings growth which was muted to begin with. However, a combination of tax cuts (Union Budget of February 2025), good monsoons (May-September 2025), GST cuts (w.e.f September 2025) and successive rate cuts from the RBI (most recently in December 2025) has improved GDP growth and if we look at the evolving earnings growth, it is showing signs of pick up into the double-digit zone. One could argue that the fundamental pillars are falling into place for Indian market to start performing later into the year.

Do you believe the earnings recovery will be strong from here on?

Adjusted for one-off effects (new labour code etc), we see the earnings growth already improving into the double digit zone. Lag effects of softer monetary policy, the stimulus of GST rationalisation and the better prospects of manufactured exports post ratification of trade deals is expected to improve this earnings growth momentum further into the mid teens later into the year.

Will earnings growth be led by banks and NBFCs?

Multiple sectors are expected to benefit because of various stimuli. Consumer discretionary on GST rationalisation, metals on global price improvements, utilities from rising energy demand (data centre investments etc), certain exporters (textiles, marine products etc) because of trade deals etc. Banks &amp;amp; NBFC’s as lenders to all these will be indirect beneficiaries.

Do you see strong investment opportunities ahead in the pharma and hospital segments?

Pharma was never directly impacted because of tariffs. However, the industry is evolving itself into CDMO, CRO and also making entries into higher margin areas such as peptide fragments which could expand the market for these players.

Hospitals have a different structure that is evolving. Internally for most of the listed universe we are seeing free cash starting to rise after years of investment. We are also seeing a lot of single hospitals folding into chains consolidating the industry both trends being positive for the industry.

Do you believe the GDP outlook has improved now that concerns around higher tariffs are behind us? Does this mean that 7 percent growth from next year onward cannot be ruled out?

In FY26 itself, the RBI has raised its GDP forecast by a cumulative 80bps from its forecast at the start of the year. This makes the 7% mark an achievable and sustainable target. Weaker inflation into FY26 had made the nominal GDP a little softer but with base effects wearing off, global hard commodity prices firming we expect nominal GDP momentum to also pick up into the year.

Is the US deal constructive for the rupee?

Markets are a function of not only the underlying earnings but also of sentiment. A high tariff (25% baseline and Russia specific 25%) could have made Indian exports uncompetitive, long run, fuelling negative sentiment. To that extent, the agreements on trade deals with 2 large trading blocs – the US and the EU will definitely alleviate concerns and lift sentiments that India would no longer be relatively disadvantaged versus its peers across major export items hence the momentum on exports can be back on rails.

The fact that each side is actively engaging for a resolution to these prickly issues is again sentimentally positive for currency markets and the Rupee.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Nifty 50 needs to surpass 25,750–25,800 zone for a move toward 25,900–26,000, Immediate key support is placed at 25,600, ank Nifty likely to march toward its record high of 61,765 as long as it defends the 60,900–60,500 support zone

* Nifty 50 needs to surpass 25,750–25,800 zone for a move toward 25,900–26,000
* Immediate key support is placed at 25,600
* ank Nifty likely to march toward its record high of 61,765 as long as it defends the 60,900–60,500 support zone

shorts/business/trading-plan-is-a-third-straight-winning-session-on-the-cards-for-nifty-50-bank-nifty

* Nifty 50 needs to surpass 25,750–25,800 zone for a move toward 25,900–26,000
* Immediate key support is placed at 25,600
* ank Nifty likely to march toward its record high of 61,765 as long as it defends the 60,900–60,500 support zone

The Nifty 50 and Bank Nifty sustained above all key moving averages with a higher high–higher low formation, while the RSI trended upward with a bullish crossover. The Nifty 50 needs to surpass and sustain above the 25,750–25,800 zone for a move toward the 25,900–26,000 levels; however, the immediate key support is placed at 25,600. Meanwhile, the Bank Nifty is likely to march toward its record high of 61,765 as long as it defends the 60,900–60,500 support zone; however, the crucial support is placed at 59,900, according to experts.

On February 17, the Nifty 50 climbed 43 points to 25,725, while the Bank Nifty jumped 225 points to 61,174. Market breadth turned positive, as about 1,820 shares advanced against 1,092 declining shares on the NSE.

Nifty Outlook and Strategy

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

At the beginning of the week, Nifty found strong support near the 50% retracement of the prior rally, triggering a sharp rebound from lower levels. In the previous session, the index successfully filled the gap formed on February 13 and ended the day near the gap resistance zone.

On the daily chart, Nifty has been closing above the 100-day EMA for the past two days, with a higher high and higher low formation, suggesting renewed buying from lower levels. A break above 25,770 can take prices higher toward the prior swing high of 26,009. However, a breach below the EMA support of 25,550 may indicate that the recent up move was merely a temporary pullback.

The trend for Nifty is expected to remain positive. As long as the index holds above the previous day’s low, an upside move toward 25,930 followed by 26,009 is expected.

Key Resistance: 26,009

Key Support: 25,550

Strategy: Long positions can be created if Nifty breaks above 25,770, with a stop-loss at 25,610 and targets of 25,930 followed by 26,009.

Aditya Thukral, Founder &amp; Analyst of AT Research &amp; Risk Managers

After experiencing a correction from the psychological resistance of 26,000 and dropping to the previous resistance zone of 25,450, the Nifty 50 bounced from those levels and started closing above the major EMAs, i.e., the 20-day, 50-day, and 100-day EMAs, which is a positive sign. However, it continued to stay above the 200-day EMA, reflecting a long-term bullish bias.

The immediate trend remains sideways, as no clear sequence of highs and lows has been seen, and the index has been consolidating around the 20-day and 100-day EMAs. Despite the sideways market, the improvement in market breadth is an encouraging sign for bulls.

From the positioning in the derivatives segment, immediate support and resistance are seen at 25,600 and 25,800, respectively. Although the broader range remains between 25,500 and 26,000, the bias will continue to be positive, as some short covering has been witnessed.

Key Resistance: 25,800, 26,000

Key Support: 25,600, 25,430

Strategy: Buy Nifty Futures on dips around 25,620, with a stop-loss at 25,520, targeting 25,820.

Preeti K Chabra, Founder of Trade Delta

On the daily timeframe, Nifty has formed a bullish candle and recovered over the last two trading sessions from the intraday low of 25,372 recorded on Monday.

The index is trading above the 20-day SMA (middle Bollinger Band) at 25,497 and the 40-day EMA at 25,672. Notably, the 40-day EMA closely coincides with the 38.2% Fibonacci retracement level at 25,691, calculated from the rally between the September 30 low of 24,587 and the January 5 high of 26,373. This confluence strengthens the immediate support zone around 25,650–25,700.

On the upside, immediate resistance is placed at 25,818, followed by 25,950.

The daily RSI at 51.8 is trading slightly above its signal line, indicating improving bullish momentum.

From a derivatives perspective, weekly options data appears relatively neutral, suggesting no clear directional bias in the near term. Overall, the broader market structure is showing signs of recovery, and a buy-on-dips strategy appears favourable for the index as long as it sustains above the key support zone.

Key Resistance: 25,818, 25,950

Key Support: 25,672, 25,570

Strategy: Consider buying Nifty Futures near 25,672 for targets of 25,818 followed by 25,950, with a stop-loss at 25,570.

Bank Nifty - Outlook and Positioning

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

At the start of this week, Bank Nifty took support near a major price action support area, which coincides with the middle Bollinger Band, and reversed from it by staging a rally of more than 2% in just two trading sessions. During this rise, PSU banks emerged as the primary participants compared to private banks.

On the daily chart, the Bollinger Bands have started to expand, with prices consistently holding above the middle band since February 3, highlighting the importance of this support level. The crucial support, as per this setup, is placed near 59,900. As long as the price manages to sustain above this level, the daily bias is likely to remain on the buy side.

On the hourly chart, almost every candle has protected the prior candle’s low over the past two trading sessions, which highlights the strength of the rally.

Key Resistance: 61,764

Key Support: 59,900

Strategy: Long positions can be created if the banking index moves toward 61,050 and forms a reversal on the 15-minute chart, with a stop-loss at 60,850 and targets of 61,250 followed by 61,500.

Aditya Thukral, Founder &amp; Analyst of AT Research &amp; Risk Managers

The banking index recorded its lifetime closing high on Tuesday. Every dip has been bought in the past, as the index has shown continued resilience. Prices have been consistently closing above all the major EMAs—namely the 20-day, 50-day, 100-day, and 200-day EMAs—with all the EMAs sloping higher. Clear formations of higher highs and higher lows are strong signals of an established uptrend.

Now that the index has closed above the previous resistance of 60,900, which is now acting as support, a continuation of the uptrend is likely to be seen in the index prices.

Positive price action is expected to remain in force, as positioning in the derivatives segment shows aggressive long buildup along with short covering by traders.

Key Resistance: 61,400, 61,770

Key Support: 60,850, 60,400

Strategy: Buy Bank Nifty Futures on dips around 60,900, with a stop-loss at 60,600, targeting 61,500.

Preeti K Chabra, Founder of Trade Delta

Bank Nifty has recovered sharply from the intraday low of 59,861 touched on Monday and has posted positive closes in the last two trading sessions.

The index bounced from the 20-day SMA (middle Bollinger Band) at 59,783 and the 40-day EMA at 59,695. These averages are now acting as a strong support zone around the 59,700–59,800 region.

Additionally, the index is trading above the 23.6% Fibonacci retracement level at 60,677, measured from the November 7 low of 57,157 to the February 3 high of 61,764. This level now acts as immediate support, reinforcing the bullish undertone.

The daily RSI at 62.1 is trading above its signal line, supporting positive momentum and strengthening the near-term bullish bias.

From a derivatives perspective, monthly options data indicates unwinding in in-the-money call options, suggesting improving bullish sentiment and reduced overhead pressure.

Key Resistance: 61,241, 61,764

Key Support: 60,677, 60,444

Strategy: Buy Bank Nifty Futures near the cash reference level of 60,677 for upside targets of 61,241 followed by 61,764, while maintaining a stop-loss at 60,444.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Trading Plan: Is a third straight winning session on the cards for Nifty 50, Bank Nifty?

The Nifty 50 and Bank Nifty sustained above all key moving averages with a higher high–higher low formation, while the RSI trended upward with a bullish crossover. The Nifty 50 needs to surpass and sustain above the 25,750–25,800 zone for a move toward the 25,900–26,000 levels; however, the immediate key support is placed at 25,600. Meanwhile, the Bank Nifty is likely to march toward its record high of 61,765 as long as it defends the 60,900–60,500 support zone; however, the crucial support is placed at 59,900, according to experts.

On February 17, the Nifty 50 climbed 43 points to 25,725, while the Bank Nifty jumped 225 points to 61,174. Market breadth turned positive, as about 1,820 shares advanced against 1,092 declining shares on the NSE.

Nifty Outlook and Strategy

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

At the beginning of the week, Nifty found strong support near the 50% retracement of the prior rally, triggering a sharp rebound from lower levels. In the previous session, the index successfully filled the gap formed on February 13 and ended the day near the gap resistance zone.

On the daily chart, Nifty has been closing above the 100-day EMA for the past two days, with a higher high and higher low formation, suggesting renewed buying from lower levels. A break above 25,770 can take prices higher toward the prior swing high of 26,009. However, a breach below the EMA support of 25,550 may indicate that the recent up move was merely a temporary pullback.

The trend for Nifty is expected to remain positive. As long as the index holds above the previous day’s low, an upside move toward 25,930 followed by 26,009 is expected.

Key Resistance: 26,009

Key Support: 25,550

Strategy: Long positions can be created if Nifty breaks above 25,770, with a stop-loss at 25,610 and targets of 25,930 followed by 26,009.

Aditya Thukral, Founder &amp;amp; Analyst of AT Research &amp;amp; Risk Managers

After experiencing a correction from the psychological resistance of 26,000 and dropping to the previous resistance zone of 25,450, the Nifty 50 bounced from those levels and started closing above the major EMAs, i.e., the 20-day, 50-day, and 100-day EMAs, which is a positive sign. However, it continued to stay above the 200-day EMA, reflecting a long-term bullish bias.

The immediate trend remains sideways, as no clear sequence of highs and lows has been seen, and the index has been consolidating around the 20-day and 100-day EMAs. Despite the sideways market, the improvement in market breadth is an encouraging sign for bulls.

From the positioning in the derivatives segment, immediate support and resistance are seen at 25,600 and 25,800, respectively. Although the broader range remains between 25,500 and 26,000, the bias will continue to be positive, as some short covering has been witnessed.

Key Resistance: 25,800, 26,000

Key Support: 25,600, 25,430

Strategy: Buy Nifty Futures on dips around 25,620, with a stop-loss at 25,520, targeting 25,820.

Preeti K Chabra, Founder of Trade Delta

On the daily timeframe, Nifty has formed a bullish candle and recovered over the last two trading sessions from the intraday low of 25,372 recorded on Monday.

The index is trading above the 20-day SMA (middle Bollinger Band) at 25,497 and the 40-day EMA at 25,672. Notably, the 40-day EMA closely coincides with the 38.2% Fibonacci retracement level at 25,691, calculated from the rally between the September 30 low of 24,587 and the January 5 high of 26,373. This confluence strengthens the immediate support zone around 25,650–25,700.

On the upside, immediate resistance is placed at 25,818, followed by 25,950.

The daily RSI at 51.8 is trading slightly above its signal line, indicating improving bullish momentum.

From a derivatives perspective, weekly options data appears relatively neutral, suggesting no clear directional bias in the near term. Overall, the broader market structure is showing signs of recovery, and a buy-on-dips strategy appears favourable for the index as long as it sustains above the key support zone.

Key Resistance: 25,818, 25,950

Key Support: 25,672, 25,570

Strategy: Consider buying Nifty Futures near 25,672 for targets of 25,818 followed by 25,950, with a stop-loss at 25,570.

Bank Nifty - Outlook and Positioning

Ashish Kyal, CMT, Founder and CEO of Waves Strategy Advisors

At the start of this week, Bank Nifty took support near a major price action support area, which coincides with the middle Bollinger Band, and reversed from it by staging a rally of more than 2% in just two trading sessions. During this rise, PSU banks emerged as the primary participants compared to private banks.

On the daily chart, the Bollinger Bands have started to expand, with prices consistently holding above the middle band since February 3, highlighting the importance of this support level. The crucial support, as per this setup, is placed near 59,900. As long as the price manages to sustain above this level, the daily bias is likely to remain on the buy side.

On the hourly chart, almost every candle has protected the prior candle’s low over the past two trading sessions, which highlights the strength of the rally.

Key Resistance: 61,764

Key Support: 59,900

Strategy: Long positions can be created if the banking index moves toward 61,050 and forms a reversal on the 15-minute chart, with a stop-loss at 60,850 and targets of 61,250 followed by 61,500.

Aditya Thukral, Founder &amp;amp; Analyst of AT Research &amp;amp; Risk Managers

The banking index recorded its lifetime closing high on Tuesday. Every dip has been bought in the past, as the index has shown continued resilience. Prices have been consistently closing above all the major EMAs—namely the 20-day, 50-day, 100-day, and 200-day EMAs—with all the EMAs sloping higher. Clear formations of higher highs and higher lows are strong signals of an established uptrend.

Now that the index has closed above the previous resistance of 60,900, which is now acting as support, a continuation of the uptrend is likely to be seen in the index prices.

Positive price action is expected to remain in force, as positioning in the derivatives segment shows aggressive long buildup along with short covering by traders.

Key Resistance: 61,400, 61,770

Key Support: 60,850, 60,400

Strategy: Buy Bank Nifty Futures on dips around 60,900, with a stop-loss at 60,600, targeting 61,500.

Preeti K Chabra, Founder of Trade Delta

Bank Nifty has recovered sharply from the intraday low of 59,861 touched on Monday and has posted positive closes in the last two trading sessions.

The index bounced from the 20-day SMA (middle Bollinger Band) at 59,783 and the 40-day EMA at 59,695. These averages are now acting as a strong support zone around the 59,700–59,800 region.

Additionally, the index is trading above the 23.6% Fibonacci retracement level at 60,677, measured from the November 7 low of 57,157 to the February 3 high of 61,764. This level now acts as immediate support, reinforcing the bullish undertone.

The daily RSI at 62.1 is trading above its signal line, supporting positive momentum and strengthening the near-term bullish bias.

From a derivatives perspective, monthly options data indicates unwinding in in-the-money call options, suggesting improving bullish sentiment and reduced overhead pressure.

Key Resistance: 61,241, 61,764

Key Support: 60,677, 60,444

Strategy: Buy Bank Nifty Futures near the cash reference level of 60,677 for upside targets of 61,241 followed by 61,764, while maintaining a stop-loss at 60,444.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

9 out of 15 years NIFTY FIN SERVICE has given negative returns in February.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	28,363.60	28,439.80	28,572.35	28,231.05	28,154.85	28,022.30	27,946.10
Fibonacci	28,310.79	28,360.06	28,439.80	28,231.05	28,151.31	28,102.04	28,022.30
Camarilla	28,306.54	28,325.67	28,344.81	28,231.05	28,268.26	28,249.13	28,229.99

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