Daily Morning Report – 23/02/26

NIFTY OUTLOOK: 25571.25 | FII: Rs. -934.61 cr. | DII: Rs. 2637.15 cr.
(23rd – 27th February 2026)

As discussed in the previous report dated 16th February 2026, market behaviour remained on expected lines during the past week. Nifty rallied up to 25885 but, due to mild profit booking, closed at 25571.25.

A bullish candle with an upper shadow appeared on the weekly chart of Nifty, suggesting buyers attempted to push the index higher but faced resistance from sellers. If buyers re-enter, resistance is likely around 25733 to 25895–25945. A breakout and sustained move above these levels may push Nifty towards 26055–26216.

However, this candle also indicates selling pressure on upward moves. If selling persists, Nifty may find support around 25410–25248. Failure to defend these supports may drag the index further towards 25087–24927.

Bank Nifty OUTLOOK:
Spot: 61172.00 | PCR: 0.99 | Max CE OI: 62500 | Max PE OI: 60000

On 20th February 2026, Bank Nifty closed at 61172.00, up 432.45 points (0.71%). The total movement during the session was 788.15 points, with a high of 61360.50 and a low of 60562.35.

Technical View:
Important support and resistance levels are 60250 and 62000, respectively.
Intraday support and resistance are placed at 60953 and 61391.
The RSI for Nifty Bank stands at 58.9. Below 30 is considered oversold, while above 70 is overbought.

Bank nifty Day SMA Analysis

Bank nifty is trading above 8 out of 8 SMA’s (5, 10, 20, 30, 50, 100, 150, 200 Day).

Bank nifty is trading below 0 out of 8 SMA’s.

No Candlestick Pattern was identified in bank nifty on daily chart.

Macros :

1.Dollar index is @ 97.73.

2.Vix is @ 19.09 ( +5.64%)

3.Brent crude is @ 71.30.

4.10 years bond yield is @ 4.085.

Note:
A lot of water has flowed in the last two days. The U.S. Supreme Court ruled against President Donald Trump’s tariff move. In a decision that could have long-term global implications, the court held that Trump cannot use the 1977 International Emergency Economic Powers Act to impose broad tariffs on imports.

The corporate world has spent months adjusting to Trump’s evolving trade policy and his heavy reliance on tariffs, not only to address trade issues but also as a tool against other governments’ policies. However, further challenges may emerge, as Trump, in a press conference following the ruling, vowed to explore additional powers to impose more tariffs, including a temporary 10% levy on all imports.

Iran–US tensions remain elevated, keeping commodity prices and bond yields on the higher side. Crude prices have stabilised, as markets expect that any potential U.S. military action against Iran may not occur until next week, though prices remain on track for weekly gains.

From India’s perspective, the country has delayed plans to send a trade delegation to Washington this week due to uncertainty following the U.S. Supreme Court’s decision to strike down Trump-era tariffs, according to a trade ministry source.

In one of the first concrete reactions among Asian nations, this follows Trump’s move on Saturday to impose a temporary 15% tariff, the maximum allowed by law, on U.S. imports from all countries after the court’s rejection.

Important Pivot Point Levels for Today                                                                             

Nifty

Bank Nifty

By Ashok Bhandari (RA)

SEBI Regd. No. INH00019549