By Somnath Das | www.markshala.com
Market Overview – Monday, 09 February 2026
The Indian equity market witnessed a strong positive session on Monday, supported by favorable global cues, optimism surrounding the India–US trade framework, and steady institutional participation. After a phase of consolidation and corrective movement, the market finally showed signs of strength, which could potentially pave the way for a short-term trend reversal.
Nifty Spot ended the day at 25,867, registering a gain of 173 points or 0.68 percent. The broader market tone remained constructive, with buying interest visible across key sectors. Market breadth improved, and overall handover reflected active participation by market participants. Although the index displayed healthy upside momentum, intraday volatility in Nifty Futures remained relatively subdued, resulting in limited short-term trading opportunities.
Nifty Futures Intraday Analysis – Understanding Today’s Price Action
From an intraday trading perspective, today’s session was largely influenced by a sharp gap-up opening. Due to this gap, the effective tradable range during market hours was restricted to just about 83 points, even though the overall upward movement from the previous close amounted to nearly 211 points.
Our pre-market strategy highlighted 25,750 as the level for initiating long positions and 25,599 as the trigger for short trades. However, because of the gap-up opening, these levels were invalidated, eliminating the possibility of range-based trading. The index opened directly above the second resistance zone near 25,856, which made it necessary to wait for a retest before initiating any long trade.
Nearly 25 minutes after market open, Nifty Futures revisited the 25,856 region, which provided a reasonable opportunity for disciplined traders to enter long positions with a risk-controlled approach. A stop loss of approximately 50 points could be maintained, while the intraday upside remained limited to around 83 points.
Notably, the 25,856 zone proved to be a strong support area, as it held firm throughout the trading session. The index failed to break below this level and finally closed near 25,909, indicating sustained buying interest and positive sentiment.
Stock of the Day Review – Max Financial Services Delivers Strong Gains
Our Stock of the Day recommendation, Max Financial Services Limited, once again delivered an impressive performance. The stock opened slightly higher than its previous close, providing traders with a buying opportunity in the range of 1,707 to 1,712.
The positional target was set at 1,746, which was achieved within a single trading session. In fact, the stock went on to trade higher and eventually closed near 1,753. This strong move reflects the effectiveness of disciplined technical analysis combined with prudent risk management.
Technical Outlook on Nifty Spot – Daily Chart Perspective
A detailed study of the daily chart of Nifty Spot presents several encouraging signals.
The most important development is the strong daily close above the 25,860 zone. This level had earlier acted as a significant resistance, and a sustained close above it was necessary to shift overall sentiment from bearish to bullish. In our previous analysis, we had indicated that if Nifty manages to close above this level for one to two consecutive sessions, it could confirm a trend reversal. Today’s close satisfies the first condition, and if tomorrow also witnesses a similar close, the bullish reversal could receive confirmation.
Another positive technical signal emerging on the charts is the potential bullish crossover between the 20-day and 50-day Double Exponential Moving Averages (DEMA). Such crossovers often indicate strengthening momentum and can support further upside movement. Confirmation of this crossover in the coming session could provide additional support to the bullish bias.
Additionally, the gap-up opening followed by a stable session and a strong close suggests that market participants are willing to accumulate at higher levels, which reflects growing confidence in the current market structure.
Trading Strategy for Nifty Futures – Tuesday, 10 February 2026
For the upcoming trading session, traders should adopt a disciplined approach and focus strictly on price-based confirmations.
A bullish momentum trade can be considered only if Nifty Futures trades convincingly above 25,958. Sustained trading above this level may open the door for further upside, where a stop loss of around 50 points and a minimum target of 100 points can be maintained. On the higher side, immediate resistance may appear near 26,198, followed by the next hurdle around 26,325.
On the downside, a short trade setup will activate only if Nifty Futures moves below 25,855 in a convincing manner. If this breakdown occurs, traders may initiate short positions with a stop loss of 50 points and a minimum target of 100 points. Key support zones in this case are expected near 25,737 and subsequently around 25,624.
If the market opens between 25,855 and 25,958, a range-bound strategy can be adopted. In such a scenario, traders may look for buying opportunities near the lower boundary and short-selling near the upper boundary, always adhering strictly to 50 points stop loss discipline and 100 points target.
A critical aspect of trading discipline is limiting the number of trades. As a rule, no more than two trades should be taken in a day, preferably in a combination of one range trade and one momentum trade. If the first trade itself achieves its target, it is advisable to avoid taking any further trades for the day.
Stock of the Day for Tuesday – Bandhan Bank
For the next session, Bandhan Bank is selected as the Stock of the Day based on technical structure and price behavior.
A buy position can be considered in the cash market near the current market price of 162, with a stop loss placed at 158. The positional target for this trade is 173. This setup offers a favorable risk-to-reward ratio of approximately 1:2.97, making it suitable for short-term positional traders.
Key Geopolitical and Economic Developments in the Last 24 Hours
Several important global and domestic developments over the past 24 hours have influenced market sentiment.
The most notable geopolitical event has been the announcement of nationwide protests by Indian farmer unions and opposition parties against the newly proposed India–US interim trade agreement. Concerns have been raised about its potential impact on domestic agriculture and small businesses. This development holds significance as it could influence policy discussions and negotiation dynamics.
Indian equity markets also responded positively to optimism surrounding the trade framework and strong quarterly results declared by the State Bank of India. Both Nifty and Sensex ended the session firmly in positive territory, supported by sectoral buying and improved investor confidence.
On the currency front, the Indian rupee strengthened due to robust foreign portfolio inflows, which have crossed approximately 900 million dollars so far in February. Meanwhile, bond yields edged higher as investors assessed the government’s borrowing plans for the upcoming fiscal year, influencing interest rate expectations.
Globally, market sentiment improved after Japan’s Nikkei index surged nearly four percent to hit record highs, while US semiconductor stocks staged a strong rebound. Growing expectations of US Federal Reserve rate cuts by mid-2026 also contributed to risk-on sentiment across global markets.
In the commodities segment, gold prices crossed the 5,000-dollar-per-ounce mark as a weaker US dollar and ongoing macroeconomic uncertainty boosted demand for safe-haven assets.
Final Market View and Outlook
Today’s close above the critical resistance zone of 25,860 has materially improved the technical structure of the Nifty index. If this level continues to hold in the coming session, it could mark the beginning of a renewed bullish phase. However, traders should remain disciplined, follow technical confirmations, and strictly adhere to stop loss and risk management principles.
Market conditions remain dynamic, influenced by both global developments and domestic policy news. Hence, maintaining a balanced and cautious approach is essential for sustainable trading performance.
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Disclaimer
The views and analysis provided above are for educational and informational purposes only and should not be considered as financial or investment advice. Trading and investing in the stock market involve risk, and past performance does not guarantee future results.
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