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Below the Quote on Post market comment for Tuesday Feb 17 by Aakash Shah, Technical Research Analyst, Choice Broking

Indian equity markets ended Tuesday’s session on a positive note, extending selective recovery as investors showed measured buying in index heavyweights amid mixed global cues and stock-specific optimism. Benchmark indices witnessed intraday volatility but managed to close in the green, reflecting improving resilience as market participants accumulated fundamentally strong stocks on dips while remaining watchful of persistent FII selling and macro uncertainties.

The Nifty 50 opened on a subdued note and witnessed choppy price action during the session, but gradually recovered supported by strength in IT and select heavyweight stocks. Despite intermittent profit booking and sectoral rotation, the index sustained buying interest in the latter half and closed higher around the 25,725 zone, indicating a modest rebound and signs of near-term consolidation. From a technical perspective, immediate support for the Nifty is now placed around the 25,550–25,600 zone, which remains crucial for maintaining short-term stability. On the upside, a sustained move above the 25,850–25,900 band would be important to trigger stronger upside momentum and signal a broader recovery.

The Bank Nifty traded with a positive bias and outperformed broader indices during the session, led by selective buying in private banking majors and steady institutional interest. Although intraday swings persisted, the index held its gains and closed near the 61,200 zone, highlighting relative strength within the banking space. Key support for the Bank Nifty is seen near the 60,850–60,950 zone, while the 61,400–61,500 region continues to act as an important resistance band. A decisive close above this zone could open the door for further upside in the near term.

Market breadth showed gradual improvement compared to previous sessions, though participation remained stock-specific, indicating continued cautious deployment of capital. Sectorally, IT and select financial stocks provided support, while metals and realty remained under pressure and capped sharper gains.

Volatility remained elevated but slightly moderated, with India VIX showing mixed movement, suggesting expectations of continued intraday swings and range-bound trading. Overall sentiment has improved marginally, but consolidation is likely to persist as investors closely track earnings developments, FII flow trends, global market cues, and technical levels.

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