NIFTY PSE

Sustained follow-through move and hold above Rs 305–310 zone essential for sharp upmove in ITC, Holding above Rs 21,510–21,500 with follow-through can extend rally in Hitachi Energy, Sustained breakout above 25,880 may pave the way for sharp Nifty upside

* Sustained follow-through move and hold above Rs 305–310 zone essential for sharp upmove in ITC
* Holding above Rs 21,510–21,500 with follow-through can extend rally in Hitachi Energy
* Sustained breakout above 25,880 may pave the way for sharp Nifty upside

shorts/business/nifty-s-25-880-wall-sbi-securities-sudeep-shah-maps-26-000-26-200-path-and-flags-two-buys-for-next-week

* Sustained follow-through move and hold above Rs 305–310 zone essential for sharp upmove in ITC
* Holding above Rs 21,510–21,500 with follow-through can extend rally in Hitachi Energy
* Sustained breakout above 25,880 may pave the way for sharp Nifty upside

According to Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, the 25,850–25,880 band remains a key resistance area. "A sustained breakout above 25,880 could pave the way for further upside towards 26,000 and subsequently 26,200 in the near term, setting the stage for another attempt at higher levels," he said in an interview to Moneycontrol.

He is bullish on <a href="https://www.moneycontrol.com/india/stockpricequote/finance-nbfc/cholamandalaminvestmentfinancecompany/CDB">Cholamandalam Investment and Finance Company</a>, and <a href="https://www.moneycontrol.com/india/stockpricequote/engines/cumminsindia/CI02">Cummins India</a> for next week. "Cholamandalam Investment continues to trade above key short- and long-term moving averages, reinforcing the positive trend structure, while Cummins has closed above the upper Bollinger Band for two straight sessions, with bands widening, a sign of expansion" he reasoned.

Further, the price structure and indicators suggest <a href="https://www.moneycontrol.com/india/stockpricequote/lifehealth-insurance/lifeinsurancecorporationindia/LIC09">LIC</a> and <a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/fsne-commerceventuresnykaa/FEV">Nykaa</a> remain well-positioned for further upside, subject to follow-through and market stability, he said.

Can you confidently say that <a href="https://www.moneycontrol.com/india/stockpricequote/diversified/itc/ITC">ITC</a> has bottomed out, with the formation of a long bullish candle accompanied by strong volumes after a long time, and is now ready for the next upward move?

It is still too early to confidently conclude that ITC has bottomed out. While the recent long bullish candle supported by strong volumes is encouraging, it does not by itself confirm a trend reversal.

The stock continues to trade below its key short- and long-term moving averages, which suggests caution. Importantly, this bounce has emerged near the major long-term support zone of Rs 305–310. Momentum indicators are improving, with RSI rising from 13 to 42 and ADX appearing to peak. A sustained follow-through move and hold above Rs 305–310 zone is essential; a break below could revive weakness.

Considering the big gap-up trade well above the upper Bollinger Bands, do you expect a new leg of rally in <a href="https://www.moneycontrol.com/india/stockpricequote/electric-equipment/hitachienergyindia/APP03">Hitachi Energy India</a>?

Hitachi Energy (POWERINDIA) has witnessed a sharp rebound after touching the lower Bollinger Band on January 18, followed by a strong gap-up close above the upper band on February 6, with bands now starting to widen which is a positive sign of expanding momentum.

RSI is rising and settled just below 70, indicating strong bullish strength with room for further upside. MACD has crossed above the zero line, and the stock trades above key short- and long-term moving averages. The bounce originated from the crucial Rs 21,510–21,500 support zone. Holding above this level with follow-through can extend the rally; a break may trigger gap filling.

What are your top two picks for the coming week?

<a href="https://www.moneycontrol.com/india/stockpricequote/finance-nbfc/cholamandalaminvestmentfinancecompany/CDB">Cholamandalam Investment and Finance Company</a>

Cholamandalam Investment and Finance Company surged 6.28% on February 3 with a strong gap-up close and has been consolidating since then with the bulls defending higher levels. The stock found support near the Bollinger Bands midline, where fresh buying interest emerged. It continues to trade above key short- and long-term moving averages, reinforcing the positive trend structure.

Rising MACD histogram bars indicate strengthening bullish momentum. Overall setup suggests accumulation at higher levels and points to a potential continuation of the upward move. Hence, we recommend accumulating the stock in the zone of Rs 1,745-1,740 with a stop-loss of Rs 1,690. On the upside, it is likely to test the level of Rs 1,865 in the short term.

<a href="https://www.moneycontrol.com/india/stockpricequote/engines/cumminsindia/CI02">Cummins India</a>

Cummins India has broken out above its Rs 3,883–4,173 consolidation range formed between January 12 and February 2, supported by a pickup in volumes. RSI has surged from 28 to settling above 60 at Friday’s close, signalling strong momentum revival. Rising green MACD histogram bars highlight increasing bullish strength.

The stock has also closed above the upper Bollinger Band for two straight sessions, with bands widening, a sign of expansion. Overall technical setup indicates sustained bullish momentum and potential for further upside ahead. Hence, we recommend accumulating the stock in the zone of Rs 4,375-4,355 with a stop-loss of Rs 4,240. On the upside, it is likely to test the level of Rs 4,675 in the short term.

Do you expect the Nifty 50 to defend the upper end of the decisive bullish gap formed on February 3 and begin a new rally next week?

The benchmark index went through an action-packed week, grappling with sharp swings amid elevated volatility. Nifty traded within a wide 1,662-point band, registering its largest weekly range since June 2024.

Technically, momentum indicators suggest a consolidation phase, indicating that the index may continue to move sideways before a clearer directional trend emerges.

From a levels perspective, the 100-day EMA zone of 25,500–25,550 is likely to provide immediate support, with the next cushion seen near 25,200. On the upside, the 25,850–25,880 band remains a key resistance area. A sustained breakout above 25,880 could pave the way for further upside towards 26,000 and subsequently 26,200 in the near term, setting the stage for another attempt at higher levels.

Do you see the Bank Nifty defending the falling support trendline in the coming week as well?

Bank Nifty closed the week at 60,120, logging nearly 3% weekly gains. The weekly chart formed a bullish candle with a long upper wick, highlighting heightened intraday volatility and selling pressure near elevated levels.

Structurally, the trend remains intact, with the index trading comfortably above all its key moving averages—reinforcing the durability of the medium-term uptrend. That said, momentum indicators and oscillators are beginning to lose steam, suggesting the possibility of a consolidation or range-bound phase as the market absorbs recent gains and waits for fresh cues.

Going forward, the 20-day EMA zone around 59,600–59,500 is expected to serve as the immediate and most critical support area. Sustaining above this band will be essential to preserve the prevailing bullish setup. On the upside, the 60,400–60,500 region continues to act as a stiff supply zone. A decisive breakout and sustained move above 60,500 could revive upside momentum, opening the door for a quick move towards 61,200, with potential extension towards the 62,000 mark in the near term.

Do you believe the panic selling in the Nifty IT index is over, with the index likely to take support at the 200-week EMA?

The Nifty IT index was among the hardest hit sectors this week, sliding nearly 7% as global AI-related concerns resurfaced. The trigger came from Anthropic’s launch of a sophisticated legal-focused AI tool, which intensified apprehensions that AI could increasingly replace or commoditise high-end software and consulting services.

Technically, the index has seen a clear breakdown. It is now trading below key short- and long-term moving averages and has confirmed a double-top neckline break, with the projected downside seen around the 35,050–35,000 zone. Momentum indicators have weakened further, with the RSI slipping below 40 and the MACD turning negative below the zero line. Unless the index decisively reclaims the 36,000 mark, the weakness is likely to continue. Traders should refrain from aggressive dip-buying and consider using rallies toward resistance as opportunities to sell until momentum improves.

What is your view on LIC and Nykaa after their recent sharp rally?

LICI has delivered a breakout above a downward-sloping trendline on the daily chart, while Nykaa has broken out above a key horizontal resistance zone. Both moves were backed by a strong surge in volumes, adding credibility to the breakouts.

Momentum indicators are also supportive. RSI in both stocks is above 70, reflecting strong bullish strength. On the ADX setup, DI+ has crossed above DI-, and rising MACD histogram bars indicate increasing bullish dominance. Overall, the price structure and indicators suggest both stocks remain well-positioned for further upside, subject to follow-through and market stability.

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.

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Nifty’s 25,880 wall: SBI Securities’ Sudeep Shah maps 26,000-26,200 path and flags two buys for next week

According to Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities, the 25,850–25,880 band remains a key resistance area. &quot;A sustained breakout above 25,880 could pave the way for further upside towards 26,000 and subsequently 26,200 in the near term, setting the stage for another attempt at higher levels,&quot; he said in an interview to Moneycontrol.

He is bullish on Cholamandalam Investment and Finance Company, and Cummins India for next week. &quot;Cholamandalam Investment continues to trade above key short- and long-term moving averages, reinforcing the positive trend structure, while Cummins has closed above the upper Bollinger Band for two straight sessions, with bands widening, a sign of expansion&quot; he reasoned.

Further, the price structure and indicators suggest LIC and Nykaa remain well-positioned for further upside, subject to follow-through and market stability, he said.

Can you confidently say that ITC has bottomed out, with the formation of a long bullish candle accompanied by strong volumes after a long time, and is now ready for the next upward move?

It is still too early to confidently conclude that ITC has bottomed out. While the recent long bullish candle supported by strong volumes is encouraging, it does not by itself confirm a trend reversal.

The stock continues to trade below its key short- and long-term moving averages, which suggests caution. Importantly, this bounce has emerged near the major long-term support zone of Rs 305–310. Momentum indicators are improving, with RSI rising from 13 to 42 and ADX appearing to peak. A sustained follow-through move and hold above Rs 305–310 zone is essential; a break below could revive weakness.

Considering the big gap-up trade well above the upper Bollinger Bands, do you expect a new leg of rally in Hitachi Energy India?

Hitachi Energy (POWERINDIA) has witnessed a sharp rebound after touching the lower Bollinger Band on January 18, followed by a strong gap-up close above the upper band on February 6, with bands now starting to widen which is a positive sign of expanding momentum.

RSI is rising and settled just below 70, indicating strong bullish strength with room for further upside. MACD has crossed above the zero line, and the stock trades above key short- and long-term moving averages. The bounce originated from the crucial Rs 21,510–21,500 support zone. Holding above this level with follow-through can extend the rally; a break may trigger gap filling.

What are your top two picks for the coming week?

Cholamandalam Investment and Finance Company

Cholamandalam Investment and Finance Company surged 6.28% on February 3 with a strong gap-up close and has been consolidating since then with the bulls defending higher levels. The stock found support near the Bollinger Bands midline, where fresh buying interest emerged. It continues to trade above key short- and long-term moving averages, reinforcing the positive trend structure.

Rising MACD histogram bars indicate strengthening bullish momentum. Overall setup suggests accumulation at higher levels and points to a potential continuation of the upward move. Hence, we recommend accumulating the stock in the zone of Rs 1,745-1,740 with a stop-loss of Rs 1,690. On the upside, it is likely to test the level of Rs 1,865 in the short term.

Cummins India

Cummins India has broken out above its Rs 3,883–4,173 consolidation range formed between January 12 and February 2, supported by a pickup in volumes. RSI has surged from 28 to settling above 60 at Friday’s close, signalling strong momentum revival. Rising green MACD histogram bars highlight increasing bullish strength.

The stock has also closed above the upper Bollinger Band for two straight sessions, with bands widening, a sign of expansion. Overall technical setup indicates sustained bullish momentum and potential for further upside ahead. Hence, we recommend accumulating the stock in the zone of Rs 4,375-4,355 with a stop-loss of Rs 4,240. On the upside, it is likely to test the level of Rs 4,675 in the short term.

Do you expect the Nifty 50 to defend the upper end of the decisive bullish gap formed on February 3 and begin a new rally next week?

The benchmark index went through an action-packed week, grappling with sharp swings amid elevated volatility. Nifty traded within a wide 1,662-point band, registering its largest weekly range since June 2024.

Technically, momentum indicators suggest a consolidation phase, indicating that the index may continue to move sideways before a clearer directional trend emerges.

From a levels perspective, the 100-day EMA zone of 25,500–25,550 is likely to provide immediate support, with the next cushion seen near 25,200. On the upside, the 25,850–25,880 band remains a key resistance area. A sustained breakout above 25,880 could pave the way for further upside towards 26,000 and subsequently 26,200 in the near term, setting the stage for another attempt at higher levels.

Do you see the Bank Nifty defending the falling support trendline in the coming week as well?

Bank Nifty closed the week at 60,120, logging nearly 3% weekly gains. The weekly chart formed a bullish candle with a long upper wick, highlighting heightened intraday volatility and selling pressure near elevated levels.

Structurally, the trend remains intact, with the index trading comfortably above all its key moving averages—reinforcing the durability of the medium-term uptrend. That said, momentum indicators and oscillators are beginning to lose steam, suggesting the possibility of a consolidation or range-bound phase as the market absorbs recent gains and waits for fresh cues.

Going forward, the 20-day EMA zone around 59,600–59,500 is expected to serve as the immediate and most critical support area. Sustaining above this band will be essential to preserve the prevailing bullish setup. On the upside, the 60,400–60,500 region continues to act as a stiff supply zone. A decisive breakout and sustained move above 60,500 could revive upside momentum, opening the door for a quick move towards 61,200, with potential extension towards the 62,000 mark in the near term.

Do you believe the panic selling in the Nifty IT index is over, with the index likely to take support at the 200-week EMA?

The Nifty IT index was among the hardest hit sectors this week, sliding nearly 7% as global AI-related concerns resurfaced. The trigger came from Anthropic’s launch of a sophisticated legal-focused AI tool, which intensified apprehensions that AI could increasingly replace or commoditise high-end software and consulting services.

Technically, the index has seen a clear breakdown. It is now trading below key short- and long-term moving averages and has confirmed a double-top neckline break, with the projected downside seen around the 35,050–35,000 zone. Momentum indicators have weakened further, with the RSI slipping below 40 and the MACD turning negative below the zero line. Unless the index decisively reclaims the 36,000 mark, the weakness is likely to continue. Traders should refrain from aggressive dip-buying and consider using rallies toward resistance as opportunities to sell until momentum improves.

What is your view on LIC and Nykaa after their recent sharp rally?

LICI has delivered a breakout above a downward-sloping trendline on the daily chart, while Nykaa has broken out above a key horizontal resistance zone. Both moves were backed by a strong surge in volumes, adding credibility to the breakouts.

Momentum indicators are also supportive. RSI in both stocks is above 70, reflecting strong bullish strength. On the ADX setup, DI+ has crossed above DI-, and rising MACD histogram bars indicate increasing bullish dominance. Overall, the price structure and indicators suggest both stocks remain well-positioned for further upside, subject to follow-through and market stability.

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.

Continued earnings growth of India Inc to be the big market catalyst going forward, Q3 earnings print looks no different from Q2, Don't expect RBI to undertake any rate cuts in next couple of meetings

* Continued earnings growth of India Inc to be the big market catalyst going forward
* Q3 earnings print looks no different from Q2
* Don't expect RBI to undertake any rate cuts in next couple of meetings

shorts/business/daily-voice-india-inc-s-continued-earnings-growth-to-be-big-market-catalyst-going-forward-says-helios-india-s-dinshaw-irani

* Continued earnings growth of India Inc to be the big market catalyst going forward
* Q3 earnings print looks no different from Q2
* Don't expect RBI to undertake any rate cuts in next couple of meetings

Dinshaw Irani, MD &amp; CEO at Helios India, believes the equity market has already discounted the India–US trade deal. He said in an interview with Moneycontrol that the next big catalyst for the market will be the continued growth in earnings of India Inc.

He added that earnings growth is still in its nascent stage, and foreign institutional investors (FIIs) may wait a bit longer to see whether it is sustained before taking an active call on India.

According to him, the Q3 earnings print looks no different from Q2. In Q2, earnings for the NSE 500 grew at a mid-teens pace.

Do you see subdued sentiment in the IT sector persisting if the sector does not align quickly with the AI theme?

More than alignment, a painful reset will be required by the IT services sector before it achieves normalization. The revenue model for IT service players has been manhours X rate per hour.

With gen AI becoming more adaptive, the men and the hours needed by them to complete a task are bound to reduce. The hike in rate per hour will not be able to accommodate this reduction and hence the reset.

Do you think the market may consolidate around current levels?

The fine print of the trade deal will indeed help in calming frayed nerves but may not be a catalyst for the market unless it varies a lot vis-a-vis what has been announced till date. The market has already discounted the deal. The big catalyst for the market will be the continued growth in earnings of India Inc.

After reviewing the Q3 earnings, are you confident that a meaningful earnings recovery is underway?

The Q3 earnings print is looking no different from the Q2 earnings. In Q2, the earnings for NSE500 grew at a mid-teens pace. The growth was led by the small cap universe which grew earnings at 35+% while the mid and large caps grew earnings at 25+% and 10%. This quarter too, the trend thus far seems to be repeating albeit at a faster pace for the small cap universe.

Do you believe that the US trade deal alone is insufficient to bring FIIs back to India, and that strong earnings growth along with macroeconomic stability are also required?

The US trade deal is indeed a very big positive as it gave a boost to the INR. Local currency stability is one of the parameters tracked by the FIIs. The other parameters being the premium commanded by the market vis a vis other EMs, valuations and the underlying growth. On the former two, India is now trading at 10-15 year average valuations and premiums. The earnings growth, however, is in its nascent stage and the FII may wait a bit more to see it sustains before taking an active call on India.

Do you think the EU deal will have a limited impact on India, considering that the EU has signed FTAs with several countries that compete with India?

It will be a while before the EU deal has any meaningful impact on India's trade. The trade deal signed with EU has to be rectified by each of the parliaments of the 27 countries constituting the EU. Thus it will be a while before one can get constructive on the EU deal.

What is your view on the RBI policy meeting outcome?

We don't expect the RBI to undertake any rate cuts in the next couple of meetings as even the previous rate cuts have not resulted in the G-Sec yields coming down. Given the centre and state plans of borrowing in the coming year, the yields are expected to remain at elevated levels. Thus it will be futile for RBI to cut rates.

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: India Inc's continued earnings growth to be big market catalyst going forward, says Helios India's Dinshaw Irani

Dinshaw Irani, MD &amp;amp; CEO at Helios India, believes the equity market has already discounted the India–US trade deal. He said in an interview with Moneycontrol that the next big catalyst for the market will be the continued growth in earnings of India Inc.

He added that earnings growth is still in its nascent stage, and foreign institutional investors (FIIs) may wait a bit longer to see whether it is sustained before taking an active call on India.

According to him, the Q3 earnings print looks no different from Q2. In Q2, earnings for the NSE 500 grew at a mid-teens pace.

Do you see subdued sentiment in the IT sector persisting if the sector does not align quickly with the AI theme?

More than alignment, a painful reset will be required by the IT services sector before it achieves normalization. The revenue model for IT service players has been manhours X rate per hour.

With gen AI becoming more adaptive, the men and the hours needed by them to complete a task are bound to reduce. The hike in rate per hour will not be able to accommodate this reduction and hence the reset.

Do you think the market may consolidate around current levels?

The fine print of the trade deal will indeed help in calming frayed nerves but may not be a catalyst for the market unless it varies a lot vis-a-vis what has been announced till date. The market has already discounted the deal. The big catalyst for the market will be the continued growth in earnings of India Inc.

After reviewing the Q3 earnings, are you confident that a meaningful earnings recovery is underway?

The Q3 earnings print is looking no different from the Q2 earnings. In Q2, the earnings for NSE500 grew at a mid-teens pace. The growth was led by the small cap universe which grew earnings at 35+% while the mid and large caps grew earnings at 25+% and 10%. This quarter too, the trend thus far seems to be repeating albeit at a faster pace for the small cap universe.

Do you believe that the US trade deal alone is insufficient to bring FIIs back to India, and that strong earnings growth along with macroeconomic stability are also required?

The US trade deal is indeed a very big positive as it gave a boost to the INR. Local currency stability is one of the parameters tracked by the FIIs. The other parameters being the premium commanded by the market vis a vis other EMs, valuations and the underlying growth. On the former two, India is now trading at 10-15 year average valuations and premiums. The earnings growth, however, is in its nascent stage and the FII may wait a bit more to see it sustains before taking an active call on India.

Do you think the EU deal will have a limited impact on India, considering that the EU has signed FTAs with several countries that compete with India?

It will be a while before the EU deal has any meaningful impact on India's trade. The trade deal signed with EU has to be rectified by each of the parliaments of the 27 countries constituting the EU. Thus it will be a while before one can get constructive on the EU deal.

What is your view on the RBI policy meeting outcome?

We don't expect the RBI to undertake any rate cuts in the next couple of meetings as even the previous rate cuts have not resulted in the G-Sec yields coming down. Given the centre and state plans of borrowing in the coming year, the yields are expected to remain at elevated levels. Thus it will be futile for RBI to cut rates.

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.

Sensex and Nifty rose for the third week, driven by FII-DII inflows and trade deal., Realty, Infra, Energy, Oil & Gas up; IT and Defence down, Market may consolidate with positive bias if Nifty stays above 25,400

* Sensex and Nifty rose for the third week, driven by FII-DII inflows and trade deal.
* Realty, Infra, Energy, Oil & Gas up; IT and Defence down
* Market may consolidate with positive bias if Nifty stays above 25,400

Indian markets rose for a third week, driven by a US-India trade deal, FII-DII inflows, and RBI policy. Nifty and Sensex gained, with Realty and Energy sectors up, while IT fell. Experts expect consolidation with a positive bias if key support holds.

shorts/business/over-100-small-cap-stocks-jump-up-to-45-as-broader-indices-rally-enters-third-week

* Sensex and Nifty rose for the third week, driven by FII-DII inflows and trade deal.
* Realty, Infra, Energy, Oil & Gas up; IT and Defence down
* Market may consolidate with positive bias if Nifty stays above 25,400

Broader indices extended their gains for a third consecutive week, supported by positive cues such as the announcement of a US-India trade agreement, sustained FII–DII inflows, and an in-line RBI policy outcome.

During the week, the BSE Sensex rose 1,310.62 points, or 1.59 percent, to close at 83,580.40, while the Nifty50 gained 373.05 points, or 1.47 percent, to settle at 25,693.70.

Foreign Institutional Investors (FIIs) turned net buyers this week, purchasing equities worth ₹2,645.53 crore, while Domestic Institutional Investors (DIIs) continued to lend support to the market with net purchases of ₹2,892.14 crore.

Among sectors, Nifty Realty, Nifty Infra, Nifty Energy, and Nifty Oil &amp; Gas gained between 3 and 5 percent. However, the Nifty IT index shed 6.3 percent, the Nifty Defence index fell 5.2 percent, and the Nifty PSU Bank index declined 1.6 percent.

"The domestic equity market witnessed notable volatility through the week, influenced by a series of macro events, policy developments, and global risk factors. While the Union Budget did not materially shift market sentiment, the announcement of a higher Securities STT on F&amp;O trades alongside an expanded government borrowing program triggered a brief knee-jerk reaction across indices," said Vinod Nair, Head of Research, Geojit Investments.

"On the global front, a risk-off mood, combined with a strong US dollar and hawkish expectations surrounding the incoming Fed Chair, exerted significant pressure on precious metals."

"Domestically, markets found partial relief after India and the US reached a trade agreement with an 18% tariff structure, which redirected investor interest toward equities and supported a recovery from the immediate post Budget decline. However, the rebound remained capped by persistent weakness in IT stocks, driven by concerns over moderating demand for traditional outsourcing services following Anthropic’s introduction of next-generation AI-powered automation tools. Investor attention also shifted to the finer details of the trade agreement, prompting a phase of short-term consolidation as markets awaited clearer insights."

"Adding to the supportive backdrop, the RBI’s upward revision of GDP forecasts, combined with a steady inflation outlook, reinforced confidence in the medium term domestic economic trajectory. Despite these positives, sentiment in the near term is expected to remain cautious due to Q3 earnings that broadly trailed expectations, as well as rising crude oil prices amid escalating US-Iran tensions," he added.

The BSE Smallcap index gained 1.2 percent during the week, with stocks such as VTM, Gokaldas Exports, Garware Hi-Tech Films, Faze Three, United Foodbrands, Pokarna, Nelcast, Kabra Extrusion Technik, Avanti Feeds, ADF Foods Industries, Indo Count Industries, Sterlite Technologies, Sindhu Trade Links, GNA Axles, Quality Power Electrical Equipments, Steelcast, Kitex Garments, Sigachi Industries, Suven Life Sciences, Sri Adhikari Brothers Television, and Avalon Technologies rallying over 20 percent each.

On the other hand, Arisinfra Solutions, IRIS RegTech Solutions, Websol Energy System, Indo Farm Equipment, Intellect Design Arena, Kamat Hotels (India), Hindustan Copper, ASM Technologies, Transindia Real Estate, CarTrade Tech, MOIL, Garden Reach Shipbuilders &amp; Engineers, Zuari Agro Chemicals, and Zydus Wellness declined between 13 and 23 percent.

<img class="alignnone size-full wp-image-13816578" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207042032_1234.png" alt="1234" width="919" height="2405" />

Where is the market headed?

Ajit Mishra – SVP, Research, Religare Broking

We expect the consolidation to continue with a positive bias as long as the Nifty holds above the 25,400 level. However, trading remains challenging due to sharp intraday swings amid mixed global signals.

In the current environment, we reiterate a stock-specific approach based on relative strength, with preference for banking and energy stocks on dips while being selective in other sectors. It is advisable to avoid the IT pack for now and wait for signs of stability before initiating fresh positions.

Amol Athawale, VP Technical Research, Kotak Securities

In the last week, the benchmark indices witnessed a sharp bounce back. The Nifty ended 3.40 percent higher, while the Sensex was up over 2,850 points. Among sectors, the Capital Market and Reality indices outperformed. The Capital Market index was up by 7.45 percent, and the Reality index rallied by 7.70 percent, whereas the IT index lost the most, shedding over 7 percent.

During the week, the market took support near the 200-day SMA (Simple Moving Average) and bounced back sharply. However, it also registered profit booking at higher levels. Technically, on weekly charts, it has formed a bullish candle and is currently trading comfortably above the 20-day SMA, which is largely positive.

We are of the view that the market has completed one leg of correction, and for short-term traders, 25,500/83,000 and 25,350/82,500 would act as crucial support zones. If the market succeeds in trading above these levels, it could bounce back to 25,800/83,800. A successful breakout of 25,800/83,800 could push the market up to 26,000-26,050/84,500-84,700. On the flip side, a decline below 25,350/82,500 would make the uptrend vulnerable.

For Bank Nifty, the 50 and 20-day SMAs or 59,500 would be key support zones. Above these levels, it could retest 60,500 and 61,000. On the flip side, below 59,500, sentiment could change.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Going ahead, the immediate resistance for Nifty is placed in the 25,750–25,800 zone. A decisive breakout and a strong follow through above this zone could result in Nifty extending its pullback towards 26,000, followed by 26,200 in the short term. On the downside, the zone of 25,550–25,500 is likely to act as an immediate support.

Disclaimer: The views and investment tips expressed by 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.

Over 100 small-cap stocks jump up to 45% as broader indices' rally enters third week

During the week, the BSE Sensex rose 1,310.62 points, or 1.59 percent, to close at 83,580.40, while the Nifty50 gained 373.05 points, or 1.47 percent, to settle at 25,693.70.

Broader indices extended their gains for a third consecutive week, supported by positive cues such as the announcement of a US-India trade agreement, sustained FII–DII inflows, and an in-line RBI policy outcome.

During the week, the BSE Sensex rose 1,310.62 points, or 1.59 percent, to close at 83,580.40, while the Nifty50 gained 373.05 points, or 1.47 percent, to settle at 25,693.70.

Foreign Institutional Investors (FIIs) turned net buyers this week, purchasing equities worth ₹2,645.53 crore, while Domestic Institutional Investors (DIIs) continued to lend support to the market with net purchases of ₹2,892.14 crore.

Among sectors, Nifty Realty, Nifty Infra, Nifty Energy, and Nifty Oil &amp;amp; Gas gained between 3 and 5 percent. However, the Nifty IT index shed 6.3 percent, the Nifty Defence index fell 5.2 percent, and the Nifty PSU Bank index declined 1.6 percent.

&quot;The domestic equity market witnessed notable volatility through the week, influenced by a series of macro events, policy developments, and global risk factors. While the Union Budget did not materially shift market sentiment, the announcement of a higher Securities STT on F&amp;amp;O trades alongside an expanded government borrowing program triggered a brief knee-jerk reaction across indices,&quot; said Vinod Nair, Head of Research, Geojit Investments.

&quot;On the global front, a risk-off mood, combined with a strong US dollar and hawkish expectations surrounding the incoming Fed Chair, exerted significant pressure on precious metals.&quot;

&quot;Domestically, markets found partial relief after India and the US reached a trade agreement with an 18% tariff structure, which redirected investor interest toward equities and supported a recovery from the immediate post Budget decline. However, the rebound remained capped by persistent weakness in IT stocks, driven by concerns over moderating demand for traditional outsourcing services following Anthropic’s introduction of next-generation AI-powered automation tools. Investor attention also shifted to the finer details of the trade agreement, prompting a phase of short-term consolidation as markets awaited clearer insights.&quot;

&quot;Adding to the supportive backdrop, the RBI’s upward revision of GDP forecasts, combined with a steady inflation outlook, reinforced confidence in the medium term domestic economic trajectory. Despite these positives, sentiment in the near term is expected to remain cautious due to Q3 earnings that broadly trailed expectations, as well as rising crude oil prices amid escalating US-Iran tensions,&quot; he added.

The BSE Smallcap index gained 1.2 percent during the week, with stocks such as VTM, Gokaldas Exports, Garware Hi-Tech Films, Faze Three, United Foodbrands, Pokarna, Nelcast, Kabra Extrusion Technik, Avanti Feeds, ADF Foods Industries, Indo Count Industries, Sterlite Technologies, Sindhu Trade Links, GNA Axles, Quality Power Electrical Equipments, Steelcast, Kitex Garments, Sigachi Industries, Suven Life Sciences, Sri Adhikari Brothers Television, and Avalon Technologies rallying over 20 percent each.

On the other hand, Arisinfra Solutions, IRIS RegTech Solutions, Websol Energy System, Indo Farm Equipment, Intellect Design Arena, Kamat Hotels (India), Hindustan Copper, ASM Technologies, Transindia Real Estate, CarTrade Tech, MOIL, Garden Reach Shipbuilders &amp;amp; Engineers, Zuari Agro Chemicals, and Zydus Wellness declined between 13 and 23 percent.



Where is the market headed?

Ajit Mishra – SVP, Research, Religare Broking

We expect the consolidation to continue with a positive bias as long as the Nifty holds above the 25,400 level. However, trading remains challenging due to sharp intraday swings amid mixed global signals.

In the current environment, we reiterate a stock-specific approach based on relative strength, with preference for banking and energy stocks on dips while being selective in other sectors. It is advisable to avoid the IT pack for now and wait for signs of stability before initiating fresh positions.

Amol Athawale, VP Technical Research, Kotak Securities

In the last week, the benchmark indices witnessed a sharp bounce back. The Nifty ended 3.40 percent higher, while the Sensex was up over 2,850 points. Among sectors, the Capital Market and Reality indices outperformed. The Capital Market index was up by 7.45 percent, and the Reality index rallied by 7.70 percent, whereas the IT index lost the most, shedding over 7 percent.

During the week, the market took support near the 200-day SMA (Simple Moving Average) and bounced back sharply. However, it also registered profit booking at higher levels. Technically, on weekly charts, it has formed a bullish candle and is currently trading comfortably above the 20-day SMA, which is largely positive.

We are of the view that the market has completed one leg of correction, and for short-term traders, 25,500/83,000 and 25,350/82,500 would act as crucial support zones. If the market succeeds in trading above these levels, it could bounce back to 25,800/83,800. A successful breakout of 25,800/83,800 could push the market up to 26,000-26,050/84,500-84,700. On the flip side, a decline below 25,350/82,500 would make the uptrend vulnerable.

For Bank Nifty, the 50 and 20-day SMAs or 59,500 would be key support zones. Above these levels, it could retest 60,500 and 61,000. On the flip side, below 59,500, sentiment could change.

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

Going ahead, the immediate resistance for Nifty is placed in the 25,750–25,800 zone. A decisive breakout and a strong follow through above this zone could result in Nifty extending its pullback towards 26,000, followed by 26,200 in the short term. On the downside, the zone of 25,550–25,500 is likely to act as an immediate support.

Disclaimer: The views and investment tips expressed by 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.

<img class="size-full wp-image-13816553" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034133_bse-nsee_nifty-Sensex.jpg" alt="In the extended Budget week, Indian equity indices managed to extend gains for a second consecutive week, led by continued DII support, FIIs turning buyers, the announcement of a US–India trade agreement, and an in-line RBI policy outcome. However, rising US–Iran tensions and underperformance in IT stocks weighed on investor sentiment." width="1280" height="720" /> In the extended Budget week, Indian equity indices managed to extend gains for a second consecutive week, led by continued DII support, FIIs turning buyers, the announcement of a US-India trade agreement, and an in-line RBI policy outcome. However, rising US–Iran tensions and underperformance in IT stocks weighed on investor sentiment.

<img class="size-full wp-image-13816554" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034213_marketup_sensexup-Niftyup.jpg" alt="During the week, the BSE Sensex rose 1,310.62 points, or 1.59 percent, to close at 83,580.40, while the Nifty50 gained 373.05 points, or 1.47 percent, to settle at 25,693.70." width="1280" height="720" /> During the week, the BSE Sensex rose 1,310.62 points, or 1.59 percent, to close at 83,580.40, while the Nifty50 gained 373.05 points, or 1.47 percent, to settle at 25,693.70.

<img class="size-full wp-image-13816559" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034333_sensex_nifty_stocknew.jpg" alt="The Nifty Midcap index gained 1.6 percent during the week, with stocks such as Aarti Industries, Balkrishna Industries, FSN E-Commerce Ventures, Hitachi Energy India, Lloyds Metals and Energy, Gujarat Fluorochemicals, Escorts Kubota, KEI Industries, MRF, Crompton Greaves Consumer Electrical, Premier Energies, Whirlpool of India, Bharti Hexacom, and Dixon Technologies rising between 10–18 percent. However, Bharat Dynamics, Hexaware Technologies, Cochin Shipyard, PB Fintech, Rail Vikas Nigam, and KPIT Technologies were among the major losers." width="1280" height="720" /> The Nifty Midcap index gained 1.6 percent during the week, with stocks such as Aarti Industries, Balkrishna Industries, FSN E-Commerce Ventures, Hitachi Energy India, Lloyds Metals and Energy, Gujarat Fluorochemicals, Escorts Kubota, KEI Industries, MRF, Crompton Greaves Consumer Electrical, Premier Energies, Whirlpool of India, Bharti Hexacom, and Dixon Technologies rising between 10–18 percent. However, Bharat Dynamics, Hexaware Technologies, Cochin Shipyard, PB Fintech, Rail Vikas Nigam, and KPIT Technologies were among the major losers.

<img class="size-full wp-image-13816561" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034336_sensex_nifty_stock-stocks_stock.jpg" alt="The BSE Smallcap index gained 1.2 percent during the week, with stocks such as VTM, Gokaldas Exports, Garware Hi-Tech Films, Faze Three, United Foodbrands, Pokarna, Nelcast, Kabra Extrusion Technik, Avanti Feeds, ADF Foods Industries, Indo Count Industries, Sterlite Technologies, Sindhu Trade Links, GNA Axles, Quality Power Electrical Equipments, Steelcast, Kitex Garments, Sigachi Industries, Suven Life Sciences, Sri Adhikari Brothers Television, and Avalon Technologies rallying over 20 percent each. On the other hand, Arisinfra Solutions, IRIS RegTech Solutions, Websol Energy System, Indo Farm Equipment, Intellect Design Arena, Kamat Hotels (India), Hindustan Copper, ASM Technologies, Transindia Real Estate, CarTrade Tech, MOIL, Garden Reach Shipbuilders &amp; Engineers, Zuari Agro Chemicals, and Zydus Wellness declined between 13–23 percent." width="1280" height="720" /> The BSE Smallcap index gained 1.2 percent during the week, with stocks such as VTM, Gokaldas Exports, Garware Hi-Tech Films, Faze Three, United Foodbrands, Pokarna, Nelcast, Kabra Extrusion Technik, Avanti Feeds, ADF Foods Industries, Indo Count Industries, Sterlite Technologies, Sindhu Trade Links, GNA Axles, Quality Power Electrical Equipments, Steelcast, Kitex Garments, Sigachi Industries, Suven Life Sciences, Sri Adhikari Brothers Television, and Avalon Technologies rallying over 20 percent each. On the other hand, Arisinfra Solutions, IRIS RegTech Solutions, Websol Energy System, Indo Farm Equipment, Intellect Design Arena, Kamat Hotels (India), Hindustan Copper, ASM Technologies, Transindia Real Estate, CarTrade Tech, MOIL, Garden Reach Shipbuilders &amp; Engineers, Zuari Agro Chemicals, and Zydus Wellness declined between 13 and 23 percent.

<img class="size-full wp-image-13816564" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034345_sensex_stocks_nifty_stockmarket.jpg" alt="The BSE Largecap index rose 1.6 percent during the week, with CG Power and Industrial Solutions, Power Grid Corporation of India, Adani Green Energy, Adani Energy Solutions, Adani Power, Waaree Energies, Power Finance Corporation, and Adani Enterprises gaining more than 10 percent each. On the downside, stocks such as Hindustan Aeronautics, Meesho, Info Edge India, Infosys, Tech Mahindra, LTIMindtree, Varun Beverages, and Mazagon Dock Shipbuilders were among the key losers." width="1280" height="720" /> The BSE Largecap index rose 1.6 percent during the week, with CG Power and Industrial Solutions, Power Grid Corporation of India, Adani Green Energy, Adani Energy Solutions, Adani Power, Waaree Energies, Power Finance Corporation, and Adani Enterprises gaining more than 10 percent each. On the downside, stocks such as Hindustan Aeronautics, Meesho, Info Edge India, Infosys, Tech Mahindra, LTIMindtree, Varun Beverages, and Mazagon Dock Shipbuilders were among the key losers.

<img class="size-full wp-image-13816558" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034330_sensex_nifty_stock_markets.jpg" alt="During the week, Reliance Industries added the most to its market capitalisation, followed by Bharti Airtel, ICICI Bank and Power Grid Corporation of India, while Tata Consultancy Services, Infosys and HCL Technologies saw a decline in their market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)" width="1280" height="720" /> During the week, Reliance Industries added the most to its market capitalisation, followed by Bharti Airtel, ICICI Bank, and Power Grid Corporation of India, while Tata Consultancy Services, Infosys, and HCL Technologies saw a decline in their market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

<img class="size-full wp-image-13816562" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034339_sensex_nifty-market.jpg" alt="Foreign Institutional Investors (FIIs) turned net buyers this week, purchasing equities worth ₹2,645.53 crore, while Domestic Institutional Investors (DIIs) continued to lend support to the market with net purchases of ₹2,892.14 crore." width="1280" height="720" /> Foreign Institutional Investors (FIIs) turned net buyers this week, purchasing equities worth ₹2,645.53 crore, while Domestic Institutional Investors (DIIs) continued to lend support to the market with net purchases of ₹2,892.14 crore.

<img class="size-full wp-image-13816557" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034327_rupee_dollar.jpg" alt="The Indian rupee snapped a three-week losing streak to end 133 paise higher at 90.66 on February 6, compared with 91.99 on January 30. During the period, the rupee traded in a range of 91.83 to 90.07." width="1280" height="720" /> The Indian rupee snapped a three-week losing streak to end 133 paise higher at 90.66 on February 6, compared with 91.99 on January 30. During the period, the rupee traded in a range of 91.83 to 90.07.

<img class="size-full wp-image-13816561" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034336_sensex_nifty_stock-stocks_stock.jpg" alt="Among sectors, Nifty Realty, Nifty Infra, Nifty Energy, and Nifty Oil &amp; Gas gained between 3–5 percent. However, the Nifty IT index shed 6.3 percent, the Nifty Defence index fell 5.2 percent, and the Nifty PSU Bank index declined 1.6 percent." width="1280" height="720" /> Among sectors, Nifty Realty, Nifty Infra, Nifty Energy, and Nifty Oil &amp; Gas gained between 3 and 5 percent. However, the Nifty IT index shed 6.3 percent, the Nifty Defence index fell 5.2 percent, and the Nifty PSU Bank index declined 1.6 percent.

The Indian rupee snapped a three-week losing streak to end 133 paise higher at 90.66 on February 6.

In the extended Budget week, Indian equity indices managed to extend gains for a second consecutive week, led by continued DII support, FIIs turning buyers, the announcement of a US–India trade agreement, and an in-line RBI policy outcome. However, rising US–Iran tensions and underperformance in IT stocks weighed on investor sentiment.

The Nifty Midcap index gained 1.6 percent during the week, with stocks such as Aarti Industries, Balkrishna Industries, FSN E-Commerce Ventures, Hitachi Energy India, Lloyds Metals and Energy, Gujarat Fluorochemicals, Escorts Kubota, KEI Industries, MRF, Crompton Greaves Consumer Electrical, Premier Energies, Whirlpool of India, Bharti Hexacom, and Dixon Technologies rising between 10–18 percent. However, Bharat Dynamics, Hexaware Technologies, Cochin Shipyard, PB Fintech, Rail Vikas Nigam, and KPIT Technologies were among the major losers.

The BSE Smallcap index gained 1.2 percent during the week, with stocks such as VTM, Gokaldas Exports, Garware Hi-Tech Films, Faze Three, United Foodbrands, Pokarna, Nelcast, Kabra Extrusion Technik, Avanti Feeds, ADF Foods Industries, Indo Count Industries, Sterlite Technologies, Sindhu Trade Links, GNA Axles, Quality Power Electrical Equipments, Steelcast, Kitex Garments, Sigachi Industries, Suven Life Sciences, Sri Adhikari Brothers Television, and Avalon Technologies rallying over 20 percent each. On the other hand, Arisinfra Solutions, IRIS RegTech Solutions, Websol Energy System, Indo Farm Equipment, Intellect Design Arena, Kamat Hotels (India), Hindustan Copper, ASM Technologies, Transindia Real Estate, CarTrade Tech, MOIL, Garden Reach Shipbuilders &amp; Engineers, Zuari Agro Chemicals, and Zydus Wellness declined between 13–23 percent.

The BSE Largecap index rose 1.6 percent during the week, with CG Power and Industrial Solutions, Power Grid Corporation of India, Adani Green Energy, Adani Energy Solutions, Adani Power, Waaree Energies, Power Finance Corporation, and Adani Enterprises gaining more than 10 percent each. On the downside, stocks such as Hindustan Aeronautics, Meesho, Info Edge India, Infosys, Tech Mahindra, LTIMindtree, Varun Beverages, and Mazagon Dock Shipbuilders were among the key losers.

During the week, Reliance Industries added the most to its market capitalisation, followed by Bharti Airtel, ICICI Bank and Power Grid Corporation of India, while Tata Consultancy Services, Infosys and HCL Technologies saw a decline in their market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)

Foreign Institutional Investors (FIIs) turned net buyers this week, purchasing equities worth ₹2,645.53 crore, while Domestic Institutional Investors (DIIs) continued to lend support to the market with net purchases of ₹2,892.14 crore.

The Indian rupee snapped a three-week losing streak to end 133 paise higher at 90.66 on February 6, compared with 91.99 on January 30. During the period, the rupee traded in a range of 91.83 to 90.07.

Among sectors, Nifty Realty, Nifty Infra, Nifty Energy, and Nifty Oil &amp; Gas gained between 3–5 percent. However, the Nifty IT index shed 6.3 percent, the Nifty Defence index fell 5.2 percent, and the Nifty PSU Bank index declined 1.6 percent.

Markets extend gains in Budget week; rupee rebounds

<img class="size-full wp-image-13816553" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034133_bse-nsee_nifty-Sensex.jpg" alt="In the extended Budget week, Indian equity indices managed to extend gains for a second consecutive week, led by continued DII support, FIIs turning buyers, the announcement of a US–India trade agreement, and an in-line RBI policy outcome. However, rising US–Iran tensions and underperformance in IT stocks weighed on investor sentiment." width="1280" height="720" /> In the extended Budget week, Indian equity indices managed to extend gains for a second consecutive week, led by continued DII support, FIIs turning buyers, the announcement of a US-India trade agreement, and an in-line RBI policy outcome. However, rising US–Iran tensions and underperformance in IT stocks weighed on investor sentiment.

<img class="size-full wp-image-13816554" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034213_marketup_sensexup-Niftyup.jpg" alt="During the week, the BSE Sensex rose 1,310.62 points, or 1.59 percent, to close at 83,580.40, while the Nifty50 gained 373.05 points, or 1.47 percent, to settle at 25,693.70." width="1280" height="720" /> During the week, the BSE Sensex rose 1,310.62 points, or 1.59 percent, to close at 83,580.40, while the Nifty50 gained 373.05 points, or 1.47 percent, to settle at 25,693.70.

<img class="size-full wp-image-13816559" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034333_sensex_nifty_stocknew.jpg" alt="The Nifty Midcap index gained 1.6 percent during the week, with stocks such as Aarti Industries, Balkrishna Industries, FSN E-Commerce Ventures, Hitachi Energy India, Lloyds Metals and Energy, Gujarat Fluorochemicals, Escorts Kubota, KEI Industries, MRF, Crompton Greaves Consumer Electrical, Premier Energies, Whirlpool of India, Bharti Hexacom, and Dixon Technologies rising between 10–18 percent. However, Bharat Dynamics, Hexaware Technologies, Cochin Shipyard, PB Fintech, Rail Vikas Nigam, and KPIT Technologies were among the major losers." width="1280" height="720" /> The Nifty Midcap index gained 1.6 percent during the week, with stocks such as Aarti Industries, Balkrishna Industries, FSN E-Commerce Ventures, Hitachi Energy India, Lloyds Metals and Energy, Gujarat Fluorochemicals, Escorts Kubota, KEI Industries, MRF, Crompton Greaves Consumer Electrical, Premier Energies, Whirlpool of India, Bharti Hexacom, and Dixon Technologies rising between 10–18 percent. However, Bharat Dynamics, Hexaware Technologies, Cochin Shipyard, PB Fintech, Rail Vikas Nigam, and KPIT Technologies were among the major losers.

<img class="size-full wp-image-13816561" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034336_sensex_nifty_stock-stocks_stock.jpg" alt="The BSE Smallcap index gained 1.2 percent during the week, with stocks such as VTM, Gokaldas Exports, Garware Hi-Tech Films, Faze Three, United Foodbrands, Pokarna, Nelcast, Kabra Extrusion Technik, Avanti Feeds, ADF Foods Industries, Indo Count Industries, Sterlite Technologies, Sindhu Trade Links, GNA Axles, Quality Power Electrical Equipments, Steelcast, Kitex Garments, Sigachi Industries, Suven Life Sciences, Sri Adhikari Brothers Television, and Avalon Technologies rallying over 20 percent each. On the other hand, Arisinfra Solutions, IRIS RegTech Solutions, Websol Energy System, Indo Farm Equipment, Intellect Design Arena, Kamat Hotels (India), Hindustan Copper, ASM Technologies, Transindia Real Estate, CarTrade Tech, MOIL, Garden Reach Shipbuilders &amp; Engineers, Zuari Agro Chemicals, and Zydus Wellness declined between 13–23 percent." width="1280" height="720" /> The BSE Smallcap index gained 1.2 percent during the week, with stocks such as VTM, Gokaldas Exports, Garware Hi-Tech Films, Faze Three, United Foodbrands, Pokarna, Nelcast, Kabra Extrusion Technik, Avanti Feeds, ADF Foods Industries, Indo Count Industries, Sterlite Technologies, Sindhu Trade Links, GNA Axles, Quality Power Electrical Equipments, Steelcast, Kitex Garments, Sigachi Industries, Suven Life Sciences, Sri Adhikari Brothers Television, and Avalon Technologies rallying over 20 percent each. On the other hand, Arisinfra Solutions, IRIS RegTech Solutions, Websol Energy System, Indo Farm Equipment, Intellect Design Arena, Kamat Hotels (India), Hindustan Copper, ASM Technologies, Transindia Real Estate, CarTrade Tech, MOIL, Garden Reach Shipbuilders &amp; Engineers, Zuari Agro Chemicals, and Zydus Wellness declined between 13 and 23 percent.

<img class="size-full wp-image-13816564" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034345_sensex_stocks_nifty_stockmarket.jpg" alt="The BSE Largecap index rose 1.6 percent during the week, with CG Power and Industrial Solutions, Power Grid Corporation of India, Adani Green Energy, Adani Energy Solutions, Adani Power, Waaree Energies, Power Finance Corporation, and Adani Enterprises gaining more than 10 percent each. On the downside, stocks such as Hindustan Aeronautics, Meesho, Info Edge India, Infosys, Tech Mahindra, LTIMindtree, Varun Beverages, and Mazagon Dock Shipbuilders were among the key losers." width="1280" height="720" /> The BSE Largecap index rose 1.6 percent during the week, with CG Power and Industrial Solutions, Power Grid Corporation of India, Adani Green Energy, Adani Energy Solutions, Adani Power, Waaree Energies, Power Finance Corporation, and Adani Enterprises gaining more than 10 percent each. On the downside, stocks such as Hindustan Aeronautics, Meesho, Info Edge India, Infosys, Tech Mahindra, LTIMindtree, Varun Beverages, and Mazagon Dock Shipbuilders were among the key losers.

<img class="size-full wp-image-13816558" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034330_sensex_nifty_stock_markets.jpg" alt="During the week, Reliance Industries added the most to its market capitalisation, followed by Bharti Airtel, ICICI Bank and Power Grid Corporation of India, while Tata Consultancy Services, Infosys and HCL Technologies saw a decline in their market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the soles beneficiary.)" width="1280" height="720" /> During the week, Reliance Industries added the most to its market capitalisation, followed by Bharti Airtel, ICICI Bank, and Power Grid Corporation of India, while Tata Consultancy Services, Infosys, and HCL Technologies saw a decline in their market value. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

<img class="size-full wp-image-13816562" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034339_sensex_nifty-market.jpg" alt="Foreign Institutional Investors (FIIs) turned net buyers this week, purchasing equities worth ₹2,645.53 crore, while Domestic Institutional Investors (DIIs) continued to lend support to the market with net purchases of ₹2,892.14 crore." width="1280" height="720" /> Foreign Institutional Investors (FIIs) turned net buyers this week, purchasing equities worth ₹2,645.53 crore, while Domestic Institutional Investors (DIIs) continued to lend support to the market with net purchases of ₹2,892.14 crore.

<img class="size-full wp-image-13816557" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034327_rupee_dollar.jpg" alt="The Indian rupee snapped a three-week losing streak to end 133 paise higher at 90.66 on February 6, compared with 91.99 on January 30. During the period, the rupee traded in a range of 91.83 to 90.07." width="1280" height="720" /> The Indian rupee snapped a three-week losing streak to end 133 paise higher at 90.66 on February 6, compared with 91.99 on January 30. During the period, the rupee traded in a range of 91.83 to 90.07.

<img class="size-full wp-image-13816561" src="https://images.moneycontrol.com/static-mcnews/2026/02/20260207034336_sensex_nifty_stock-stocks_stock.jpg" alt="Among sectors, Nifty Realty, Nifty Infra, Nifty Energy, and Nifty Oil &amp; Gas gained between 3–5 percent. However, the Nifty IT index shed 6.3 percent, the Nifty Defence index fell 5.2 percent, and the Nifty PSU Bank index declined 1.6 percent." width="1280" height="720" /> Among sectors, Nifty Realty, Nifty Infra, Nifty Energy, and Nifty Oil &amp; Gas gained between 3 and 5 percent. However, the Nifty IT index shed 6.3 percent, the Nifty Defence index fell 5.2 percent, and the Nifty PSU Bank index declined 1.6 percent.

With key trade deal with US now behind, strain on INR could likely alleviate, Domestic growth levers stay resilient but key challenges for economy stemming from external environment, Believe valuations remain high compared to EM basket

* With key trade deal with US now behind, strain on INR could likely alleviate
* Domestic growth levers stay resilient but key challenges for economy stemming from external environment
* Believe valuations remain high compared to EM basket

shorts/business/daily-voice-ankita-pathak-sees-room-for-further-growth-reflation-as-monetary-policy-takes-the-baton

* With key trade deal with US now behind, strain on INR could likely alleviate
* Domestic growth levers stay resilient but key challenges for economy stemming from external environment
* Believe valuations remain high compared to EM basket

“Friday’s MPC decision came in line with our house view, following a notably dovish policy stance in December 2025. However, the absence of definitive liquidity measures disappointed markets,” said Ankita Pathak, Head – Global Investments at Ionic Asset, in an interview with Moneycontrol.

She believes there is still scope for further growth reflation, with the baton now in the hands of monetary policy, as fiscal policy prioritises stability and fiscal consolidation.

While domestic growth levers remain resilient, she noted that key challenges to the economy stem from the external environment—particularly geopolitical tensions—which are impacting capital flows, exports, and market sentiment.

What is your take on the RBI’s monetary policy? Do you expect a status quo on interest rates throughout the current year, with a focus on liquidity?

Friday’s MPC decision came in line with our house view, following a notably dovish policy in December 2025, although the absence of definite liquidity measures disappointed markets. We believe that there is still scope for further growth reflation, with the baton now with monetary policy, as fiscal policy prioritizes stability and fiscal consolidation.

Also, with the key trade deal with the US now behind us, the strain on INR could likely alleviate, with foreign capital potentially returning to India and export pressures easing.

With this hypothesis, we believe the RBI while remaining vigilant about the evolving macroeconomic environment, should continue prioritizing growth reflation with further rate cuts and sustained an adequate liquidity infusion. There’s already space available from inflation, growth, fiscal and currency angle, and US rate cuts could provide further tailwinds.

Has the central bank flagged any major challenges for the economy?

While the domestic growth levers stay resilient, key challenges for the economy are stemming from the external environment, particularly, geo-political tensions, impacting capital flows, exports and market sentiments. With a favourable trade deal with the US now behind us, external drivers of domestic growth should receive meaningful support.

As we approach the close of the December quarter earnings season, what is your reading of the numbers announced so far? Do you see any strong signs of an earnings recovery?

Slightly over half of the NSE 500 companies have reported results so far, with adjusted PAT growing by 12% YoY. Market cap wise results show strong resilience in the small cap companies, with PAT growing by ~40% YoY, followed by mid cap at ~18% and large cap at ~9%. Surely the earnings are improving and so are macros which should further support earnings in the coming quarters.

Additionally, a favourable trade deal with the US + increasing currency competitiveness vis-à-vis CNY could act as a tailwind for export-oriented companies going forward. Having said that, we believe valuations remain high as compared to the EM basket and return of FPIs would be crucial for a based recovery of the market.

Do you expect another major market move once participants gain clearer insights into the US trade deal?

Any deviation in the fine print from the initial announcement could lead to increased market volatility. TACO trade is a possibility given how trade deals with other countries have been revised multiple times, however, this is not our base case.

We believe President Trump would likely uphold the terms of trade with India, considering how long it took for both countries to reach a mutually beneficial consensus.

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 | Ankita Pathak sees room for further growth reflation as monetary policy takes the baton

“Friday’s MPC decision came in line with our house view, following a notably dovish policy stance in December 2025. However, the absence of definitive liquidity measures disappointed markets,” said Ankita Pathak, Head – Global Investments at Ionic Asset, in an interview with Moneycontrol.

She believes there is still scope for further growth reflation, with the baton now in the hands of monetary policy, as fiscal policy prioritises stability and fiscal consolidation.

While domestic growth levers remain resilient, she noted that key challenges to the economy stem from the external environment—particularly geopolitical tensions—which are impacting capital flows, exports, and market sentiment.

What is your take on the RBI’s monetary policy? Do you expect a status quo on interest rates throughout the current year, with a focus on liquidity?

Friday’s MPC decision came in line with our house view, following a notably dovish policy in December 2025, although the absence of definite liquidity measures disappointed markets. We believe that there is still scope for further growth reflation, with the baton now with monetary policy, as fiscal policy prioritizes stability and fiscal consolidation.

Also, with the key trade deal with the US now behind us, the strain on INR could likely alleviate, with foreign capital potentially returning to India and export pressures easing.

With this hypothesis, we believe the RBI while remaining vigilant about the evolving macroeconomic environment, should continue prioritizing growth reflation with further rate cuts and sustained an adequate liquidity infusion. There’s already space available from inflation, growth, fiscal and currency angle, and US rate cuts could provide further tailwinds.

Has the central bank flagged any major challenges for the economy?

While the domestic growth levers stay resilient, key challenges for the economy are stemming from the external environment, particularly, geo-political tensions, impacting capital flows, exports and market sentiments. With a favourable trade deal with the US now behind us, external drivers of domestic growth should receive meaningful support.

As we approach the close of the December quarter earnings season, what is your reading of the numbers announced so far? Do you see any strong signs of an earnings recovery?

Slightly over half of the NSE 500 companies have reported results so far, with adjusted PAT growing by 12% YoY. Market cap wise results show strong resilience in the small cap companies, with PAT growing by ~40% YoY, followed by mid cap at ~18% and large cap at ~9%. Surely the earnings are improving and so are macros which should further support earnings in the coming quarters.

Additionally, a favourable trade deal with the US + increasing currency competitiveness vis-à-vis CNY could act as a tailwind for export-oriented companies going forward. Having said that, we believe valuations remain high as compared to the EM basket and return of FPIs would be crucial for a based recovery of the market.

Do you expect another major market move once participants gain clearer insights into the US trade deal?

Any deviation in the fine print from the initial announcement could lead to increased market volatility. TACO trade is a possibility given how trade deals with other countries have been revised multiple times, however, this is not our base case.

We believe President Trump would likely uphold the terms of trade with India, considering how long it took for both countries to reach a mutually beneficial consensus.

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.

10 out of 17 years NIFTY PSE has given negative returns in February.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	10,381.87	10,417.83	10,483.37	10,316.33	10,280.37	10,214.83	10,178.87
Fibonacci	10,355.11	10,379.06	10,417.83	10,316.33	10,277.56	10,253.61	10,214.83
Camarilla	10,355.20	10,364.51	10,373.81	10,316.33	10,336.60	10,327.29	10,317.99

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