Bajaj Broking Closing Market Commentary for 18th February 2026

Indian equity benchmarks extended their gains for a third consecutive session on February 18th, supported by easing geopolitical tensions and lower volatility. Both indices recovered early losses to close firmly in positive territory, with the Nifty ending above the 25,800 mark.

At the close, the Sensex advanced 283.29 points (0.34%) to 83,734.25, while the Nifty rose 93.95 points (0.37%) to 25,819.35.

Broader markets mirrored the momentum, as the Nifty Midcap and Small-cap indices gained 0.5% each. Sectorally, barring IT, all major indices finished higher. Metal, FMCG, and PSU Bank stocks climbed around 1% each, while Private Banks, Realty, Auto, and Oil & Gas added about 0.5%.

Banking and financial counters remained resilient amid stable asset quality expectations, and selective buying in FMCG names aided outperformance. In contrast, IT stocks underperformed due to concerns over AI-led disruption and margin pressures, which weighed on sentiment.

Nifty Outlook

The index carried forward yesterday's bullish momentum with sustained buying interest, closing firmly above its 21-day and 50-day EMAs. This move reflects improving short-term sentiment and renewed buying at lower levels. In the near term, the index is expected to oscillate within the 25,500-26,000 range. Currently trading near the midpoint of this band, it suggests a balanced undertone between demand and supply. A decisive move beyond either end of the range could act as the next directional catalyst.

Immediate support is seen at 25,720, followed by 25,650, which may cushion minor declines. On the upside, resistance stands at 25,840 and then at 25,950. A sustained breakout above these levels could pave the way for further gains within the broader consolidation zone. Overall, the structure remains range-bound with a mild positive bias, indicating ongoing base formation after the recent correction.

Bank Nifty Outlook

The index once again outperformed the Nifty, exhibiting strong relative strength and inching closer to its all-time high. The price action suggests sustained buying interest in banking stocks, with bulls actively accumulating on dips near key short-term moving averages.

In the near term, the index is likely to maintain a positive bias as long as it holds above the breakout zone. Trading above its key moving averages further reinforces the prevailing momentum and supports the possibility of continued upside in the short term.

Immediate resistance is seen at 61,750, followed by 62,000, where some profit booking may surface. A decisive breakout above these levels could accelerate the ongoing uptrend. On the downside, supports have shifted higher to 61,150 and 60,800, highlighting strong demand at elevated levels.

Source : Equity Bulls

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