A strong gap‑up start carried through to a firm close as PSU banks and FMCG stocks led the market higher, even as IT lagged. With Nifty holding above 25,400 and Bank Nifty above 61,000, the broader trend continues to favor a buy‑on‑dips strategy.
Benchmark Performance
- Sensex: 83,294.66 (+0.58%)
- Nifty 50: 25,713.00 (+0.55%)
- Bank Nifty: 61,264.25 (0.15%)
- Broader Market: Smallcaps +0.3%, Midcaps -0.4%
1) Gap‑Up Open, Strong Close — Bulls Regain Control
Indices opened firm on positive global cues and built gains through the afternoon, closing near the day’s highs. Momentum into Tuesday remains constructive.
2) Financials & PSU Banks Anchor the Tape
PSU banks outperformed private banks intraday. Bank Nifty defended the 61,000 zone and attracted dip buying, signalling institutional confidence in financials.
3) IT Lags Again
IT remained weak, capping upside for benchmarks. The drag, however, did not alter the broader positive structure.
4) FMCG & Financial Services Provide Stability
Defensive participation from FMCG and steady traction in financial services aided a balanced advance.
5) Broader Market: Mixed but Resilient
Smallcaps edged up while Midcaps cooled off. Leadership was large‑cap heavy but market breadth improved late in the session.
6) Key Levels to Watch (for 24 Feb 2026)
- Nifty 50 — Support: 25,500 → 25,400 | Resistance: 25,800 → 26,000
- Sensex — Support: 82,800 → 82,000 | Resistance: 83,500 → 83,800
- Bank Nifty — Support: 61,000 → 60,600 | Resistance: 61,600 → 61,800
Bottom Line — What Matters Now
Banks (especially PSU) are carrying leadership while defensives add stability. As long as Nifty holds 25,400–25,500 and Bank Nifty defends 61,000, the structure favours buy‑on‑dips. IT remains the swing risk but has not broken the broader uptrend.
Disclaimer
Finfluencee and the author are not SEBI‑registered advisers. This report is for educational and informational purposes only. Please consult a certified financial adviser before investing.
