Daily Technical Report 23rd February 2026 by Axis Securities Ltd
NIFTY
Nifty gained 117 points on Friday and closed at 25,571. The index opened near Thursday’s close and witnessed value buying at lower levels, staging a smart rebound. It reclaimed the 20-day SMA at 25,564 but faced stiff resistance at the 40-day EMA around 25,664, forming a bullish candle with a pronounced upper shadow, a clear sign of supply at higher levels. For bulls to regain firm control, the index must close decisively above Thursday’s strong bearish candle high of 25,885. The RSI is hovering near its reference line; a sustained crossover would signal a shift toward a positive bias and strengthen the case for further upside.
BANK NIFTY
Bank Nifty settled at 61,172, up 432 points. On the daily chart, the index formed a bullish candle, reflecting a positive bias and buying interest at lower levels. However, a decisive close above the crucial horizontal resistance at 61,765 is essential to confirm an upside breakout and unlock further bullish momentum.
Our trend score analysis of the Nifty and Bank Nifty suggests a bullish outlook for both benchmarks.
Please find the detailed market insights in the attached report, with pivot levels, key metrics, and performance highlights.
For More Axis Securities Disclaimer https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633
