Stock Market Update: Nifty Near 25,750 Hurdle, Sensex Eyes 84,000 as Bank Nifty Holds Firm

The Indian markets are likely to open on a softer note on February 18. The GIFT Nifty traded near 25,762 with a premium of about 23 points above the previous Nifty futures closing price. It indicates a weak market opening.

The markets continued their upward trend for a second day. Sensex advanced 173.81 points or 0.21% to 83,450.96 while Nifty 50 gained 42.65 points or 0.17% to settle at 25,725.40. 

Nifty Midcap index rose 0.27% and Smallcap index added 0.56%. It shows that investors made targeted purchases of stocks outside the large-cap category.

Nifty 50 Outlook

Technically Nifty 50 formed a bullish candle on the daily chart. The index has reclaimed its 100-day moving average near 25,700. It strengthens the short-term market structure. 

The resistance at the 50-day moving average around 25,750 prevents any further upward movement.

A decisive move above 25,750-25,800 could trigger fresh buying interest which might push the index toward 26,000. 

The market now establishes immediate support at 25,600. The India VIX decreased by almost 5% to below 13. It highlights reduced market volatility while supporting a buy-on-dips strategy.

Sensex Outlook

Sensex shows an upward trend on its intraday charts, forming a bullish candle on its daily chart. The index is trading comfortably above critical support levels of 83,000 and 82,700.

If momentum sustains the immediate resistance lies between 83,700 and 83,800. The market will enter a bullish phase if it breaks through this range to reach 84,200 and 84,500.

A drop below 82,700 will negate the ongoing uptrend.

Bank Nifty Outlook

The Bank Nifty increased by 224.90 points or 0.37% gain to reach 61,174 while forming a bullish candle that showed buying activity during price declines. The index is trading near its peak as all major moving averages are showing an upward trend.

The immediate support is at 60,800-60,700, followed by 60,500. The short-term market trend maintains a positive direction when the index remains above these support levels.

The resistance is at 61,500 and 61,800. A sustained upward movement could result in additional gains towards 61,600-62,100.

Also Read: US Stock Market Today: US Equities Hold Steady as Investors Reassess AI Risks and Tech Valuations

Sectoral Trends and Market Drivers

Sectorally PSU Banks outperformed as they gained over 2%, while IT stocks recovered their losses amid positive business news. 

Geopolitical discussions brought increased interest in defense stocks. Metal stocks struggled with the metal index declining around 1%.