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Below the Quote on Post market comment for Thursday February 5 by Aakash Shah, Technical Research Analyst, Choice Broking

Indian equity markets ended the February 5, 2026 session on a sideways to mildly bearish note. Benchmark indices declined amid persistent global selling pressure in metal and IT stocks, while optimism around a potential US–India trade deal faded. The Sensex fell 0.6% to close at 83,311.38, while the Nifty 50 slipped 0.5% to 25,642.80.

The Nifty 50 opened flat and witnessed early selling pressure, sliding to an intraday low of 25,579.50. A modest rebound followed, after which the index traded in a narrow range, indicating indecision and lack of strong directional momentum. It eventually settled at 25,642.80, continuing to consolidate at elevated levels. Immediate resistance is placed at 25,750–25,800, while key support is seen in the 25,450–25,500 zone. The daily RSI stands at 51.68, reflecting neutral momentum with underlying resilience.

Bank Nifty opened flat to marginally positive and touched an intraday high of 60,328 but failed to sustain higher levels. Persistent selling pressure dragged the index to a low of 59,881.05. It closed nearly 174 points lower at 60,063.65, signaling consolidation with a mild negative bias. Resistance is seen at 60,300–60,400, while crucial support lies at 59,700–59,800.

India VIX declined by 0.69% to 12.16, indicating easing volatility and reduced risk perception among market participants. Derivatives data shows heavy put writing at the 25,500 strike and significant call writing at the 25,700 strike, clearly defining a narrow near-term trading range.

Despite the marginally negative close, the index remains range-bound. This structure supports a cautiously positive near-term outlook, with a strategy of buying on dips as long as the key support zone holds.

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