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Market Opening View
GIFT Nifty futures for March delivery were trading around 25,550 at 7:30 AM, indicating a gap-down opening for the Nifty today.

Market Recap & Technical Outlook
The Nifty opened on a positive note and held above the 25,450 level but witnessed selling pressure through most of the session. A late-hour recovery from around 25,400 helped the index close marginally higher at 25,496.55. Defence and Healthcare stocks supported the market, while FMCG, Capital Markets, and Financials lagged. The index formed a bearish candlestick pattern, suggesting continued caution at higher levels. India VIX closed above 12, indicating elevated volatility. The short-term trend remains bearish and is expected to turn bullish only above the 25,770 level, while the 9-day moving average stands near 25,597.

Global Market Snapshot
U.S. markets were mixed following recent gains. The Dow Jones rose 17 points to close at 49,499.20, while the S&P 500 declined 37 points to 6,908.86. Weakness in technology stocks, led by Nvidia, weighed on sentiment.

Derivatives Snapshot
FII positioning in futures remained net bullish with an increase in long positions. In options, FIIs were net bearish, with the highest Put Open Interest at 25,500 and highest Call Open Interest at 25,700, indicating a near-term trading range.

Stocks on Radar
Bullish: Mankind Pharma, Tube Investments, OFSS, Fortis, IndusInd Bank, Bank of Baroda, BDL, Tata Motors, UPL, Eicher Motors
Bearish: Sammaan Capital, Dixon Technologies, CDSL, Kfin Technologies, Muthoot Finance, Bajaj Holdings, IRCTC, Syngene, Trent, SBI Card

Key News & Events to Watch
Progress in India–Israel FTA discussions, strategic collaboration between Netweb Technologies and Vertiv, Tata Steel’s additional investment in its Singapore subsidiary, Engineers India’s interim dividend announcement, Brigade Enterprises’ senior living partnership, and BPCL’s incorporation of a Singapore-based energy trading subsidiary remain key developments to monitor.

Nifty Technical Outlook

On Thursday, the Nifty opened positive and held above 25,450. The index faced selling pressure during most of the session, but a last-hour bounce from 25,400 helped it close with marginal gains. Sectorally, Defence and Healthcare supported the index on optimism around a potential India– Israel defence deal. All sectoral indices ended higher, except FMCG, Capital Markets, and Financials. Tata Motors PV and Eicher Motors were the top gainers, while Trent and Eternal were the top losers. The Nifty added 14.05 points closing at 25,496.55. The Nifty formed a bearish candlestick pattern on the daily chart, and we expect the selling pressure to continue for the day. The volatility index IndiaVIX has closed above 12 and we expect the volatility to increase in the short term. The Nifty shortterm trend remains bearish and the trend will turn bullish only above 25,770 levels. The 9-day simple moving average is placed at 25,597.

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