Sensex falls 1,200 pts, Nifty down 1.4%: Will bear attack continue or can bulls make a comeback? Analysts suggest trading levels

Markets crash

• Sensex fell over 1,200 points, Nifty 50 breached support levels
• All major indices closed in the red, led by IndiGo and M&M losses
• Nifty 50 expected to trade between 25,500 and 26,000 near term

Did our AI summary help?

Indian stock markets sharply declined on February 19, with Sensex falling more than 1,200 points and Nifty 50 breaching its key support levels. Analysts have suggested key levels to watch out for.

Sensex declined nearly 1,236.11 points (1.48 percent) to close at 82,498.14, while Nifty 50 fell around 365 points (1.41 percent) to end the session at 25,454.35. All major indices closed in the red, with IndiGo, Mahindra & Mahindra and UltraTech Cement shares leading losses on the benchmark indices.

Check key levels to watch out for:

Notably, Nifty 50 has broken a key support level of 25,650 which was suggested by analysts. Hitesh Tailor, Research Analyst - Research at Choice Equity Broking Private, had said that the immediate support was placed at 25,650–25,700, which remains crucial for maintaining short-term stability.

“On the upside, the 25,950–26,000 zone continues to act as a key resistance band; a sustained breakout above this range could trigger stronger upside momentum and confirm broader recovery traction,” he added.

Shrikant Chouhan, Head Equity Research at Kotak Securities, said that after rising for three sessions, the the short-term support has shifted from 25,500/83,000 to 25,600/83,300. “As long as market is trading above the same the uptrend formation is likely to continue,” he said. Notably, Nifty 50 is still above the said level, but Sensex has crashed below the support zone suggested by the analyst.

“On the higher side, 25950-26000/84700-85000 would act as a immediate resistance zone for the traders. On the flip side below 25600/83300 the sentiment could change, below the same traders may prefer to exit out from the trading long position,” he added.

Bajaj Broking expected Nifty 50 to oscillate within the 25,500–26,000 range in the near term. “Currently trading near the midpoint of this band, it suggests a balanced undertone between demand and supply. A decisive move beyond either end of the range could act as the next directional catalyst,” it added.

“Immediate support is seen at 25,720, followed by 25,650, which may cushion minor declines. On the upside, resistance stands at 25,840 and then at 25,950. A sustained breakout above these levels could pave the way for further gains within the broader consolidation zone. Overall, the structure remains range-bound with a mild positive bias, indicating ongoing base formation after the recent correction,” the domestic brokerage said.

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