Nifty 50, Sensex today: What to expect from Indian stock market in trade on February 26

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday, tracking upbeat global market cues.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,667 level, a premium of nearly 39 points from the Nifty futures’ previous close.

On Wednesday, the Indian stock market ended marginally higher, with the Nifty 50 holding above 25,400 level.

The Sensex rose 50.15 points, or 0.06%, to close at 82,276.07, while the Nifty 50 settled 57.85 points, or 0.23%, higher at 25,482.50.

Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:

Sensex Prediction

Sensex witnessed profit booking at higher levels after an intraday rally, which is largely negative.

“We are of the view that the 20-day SMA (Simple Moving Average) or 82,500 will act as an immediate resistance zone for day traders. As long as Sensex trades below this level, the weak sentiment is likely to continue on the downside, with a potential slip toward the 200-day SMA or 82,000 – 81,800,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.

Conversely, if Sensex moves above the 20-day SMA or 82,500, he believes the pullback could extend toward 82,800 – 83,000.

Mayank Jain, Market Analyst, Share.Market said that the immediate support for Sensex lies at 82,000 – 81,800, and a sustained trade below the 82,000 mark could invite further correction toward the 81,200 support zone.

“Immediate resistance is at 83,000 – 83,200, and Wednesday’s peak near 82,958 now acts as the immediate ceiling. A decisive close above this is required to shift the bias back to bullish,” said Jain.

Nifty OI Data

In the derivatives segment, heavy put writing at the 25,500 strike and strong call writing at the 25,600 strike point to a tight range-bound structure and ongoing consolidation for the Nifty 50.

“Traders are advised to remain cautious near key support zones and wait for a clear breakout above resistance levels before taking fresh directional positions,” said Hitesh Tailor, Research Analyst – Research at Choice Equity Broking.

Nifty 50 Prediction

Nifty 50 index formed a small red candle on the daily chart with a long upper shadow.

“This signals a formation of inside day bar type candle pattern, but this market action reflects a lack of strength in the bounce back. The bearish descending triangle pattern is unfolding and the series of lower highs after bouncing back from the lower support signals sell on rise opportunity in the market ahead,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the crucial overhead resistance for Nifty 50 to be watched is around 25,700 – 25,800 levels, and immediate support is placed at 25,400 – 25,350.

Ponmudi R, CEO of Enrich Money, said that the 25,400 level is acting as immediate structural support for Nifty 50, while the 25,600 – 25,650 zone, aligned with the 50- and 100-day EMAs, remains a strong resistance cluster capping upside attempts.

“A decisive break below 25,300 may accelerate selling pressure toward 25,250 – 25,150, which aligns with the 200-day EMA. On the upside, a sustained breakout above 25,650 would be required to trigger short covering and potentially extend gains toward the 25,800–26,000 zone,” said Ponmudi R.

Momentum indicators remain subdued, with RSI hovering near 47, reflecting a mild bearish bias without entering oversold territory. Intraday price action continues to show selling on rallies, keeping the broader tone range-bound with a slight negative undertone unless key resistance levels are convincingly reclaimed, he added.

Mayank Jain noted that the Nifty 50 index is hovering just below its short-term moving averages, and the The ability of the index to close above the 25,450 mark is a positive sign, but the ‘lower-high’ formation on the daily chart suggests that bulls face a stiff challenge in reclaiming the 25,700 zone.

“Immediate support for Nifty 50 is at 25,350 – 25,300. A sustained trade below the 25,300 mark could invite further correction toward the 25,000 support zone. Immediate resistance lies at 25,650 – 25,750. This zone acted as a rejection point on Wednesday. Reclaiming this range is essential for a short-covering rally toward the 26,000 psychological hurdle,” said Jain.

Bank Nifty Prediction

Bank Nifty index eased 3.95 points, or 0.01%, to close at 61,043.35 on Wednesday, forming a small bearish candle with a small real body and shadows in either direction, signaling consolidation amid stock specific action.

“For Bank Nifty, the immediate resistance is placed in the 61,400 – 61,500 zone. Any sustainable move above this zone could result in Bank Nifty extending its up move towards 62,000, followed by 62,500 in the short term. On the downside, the zone of 60,800 – 60,700 zone is likely to act as an immediate support,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.

Bajaj Broking Research said that the bias remains positive and believes dips should be used as buying opportunity, with short term support seen at 60,500 – 60,200 levels being the confluence of the 20 days EMA and the key retracement of previous up move.

“Volatility is likely to remain elevated amid uncertain global cues. In the near-term, the Bank Nifty index is likely to trade in the range of 60,000 – 61,750. A decisive move beyond this range could trigger fresh directional momentum,” said the brokerage firm.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.