IGI Logo

Below the Quote on Pre Market Summary Sensex 26th February 2025 by Aakash Shah, Technical Research Analyst at Choice Equity Broking Private Limited

Indian equity markets are expected to open on a mildly positive to flat note on Thursday, supported by stable global cues and firm indications from GIFT Nifty, which is hovering near the 25,600–25,650 zone, signalling a steady start for domestic benchmarks. Positive momentum in U.S. and European markets, along with easing volatility and sustained domestic institutional buying, is likely to provide near-term stability to equities. However, with the Nifty continuing to trade within a broader consolidation band.

In the previous session, benchmark indices ended marginally higher amid intraday volatility, with the Nifty 50 closing near the 25,480 mark while the Sensex settled around 82,276. The market witnessed a strong opening but profit booking at higher levels capped gains, indicating hesitation near resistance zones of 25,650 levels. Sectorally, IT, auto, pharma, healthcare, and metal stocks led the gains, while FMCG and oil & gas saw mild profit-taking. Broader markets remained resilient, with midcap and select sectoral indices outperforming, reflecting selective risk appetite in the market.

From a technical perspective, the Nifty continues to consolidate within the 25,250–25,650 range, suggesting a phase of range-bound movement. The index is currently holding above the immediate support zone of 25,250, which remains crucial for sustaining the ongoing recovery. On the upside, immediate resistance is placed near 25,650.

The Bank Nifty is showing relative stability but remains range-bound, closing near the 61,000 mark in the previous session. Immediate support is seen around 60,700–60,800, while resistance is placed near 61,300–61,400. Sustained strength above this resistance band could improve sentiment in the financial space and support broader market upside.

On the institutional flows front, foreign institutional investors (FIIs) have shown mixed activity in recent sessions, while domestic institutional investors (DIIs) continue to provide strong support, with notable net buying of over ?5,119 crore in the latest available data, helping cushion downside risks and stabilise market sentiment. At the same time, India VIX has declined, indicating easing volatility and reduced near-term market anxiety.

Overall, markets are likely to witness a range-bound session. Traders may focus on IT, auto, metals, and pharma stocks, which are showing relative strength. However, given the ongoing consolidation near resistance levels and intermittent profit booking, a cautious and stock-specific approach with disciplined risk management is advisable for the session ahead.

Above views are of the author and not of the website kindly read disclaimer