Markets End in the Red
The Sensex tumbled over 1,000 points to close at 82,626.76, while the Nifty 50 slipped 336 points to settle at 25,471.10. The sharp fall followed weak global cues and cautious institutional activity.
During the session, the Nifty opened with a steep gap-down of more than 200 points and remained under sustained selling pressure. Attempts to hold above the 25,500 mark failed, with the index touching an intraday low of 25,444 before closing weakly.
According to technical analysts, the consistent selling at higher levels reflects a defensive undertone in the broader market.
Technical Outlook for Nifty and Bank Nifty
Technical resistance for the Nifty 50 is seen between 25,600 and 25,650, while immediate support lies in the 25,300–25,350 range. The daily Relative Strength Index (RSI) hovers around 46, indicating neutral to slightly negative momentum.
Volatility indicators also flashed caution. India VIX surged over 13 percent to 13.29, pointing to heightened uncertainty in the near term. In the derivatives segment, significant put writing at 25,300 and call writing at 25,600 suggests a possible range-bound movement unless a decisive breakout occurs.
Meanwhile, Bank Nifty also remained under pressure, closing at 60,186.65 after losing over 550 points. Immediate resistance is placed between 60,500 and 60,600, while support is seen near the 59,850–59,950 zone. Despite the fall, the RSI around 53 suggests some underlying strength, though consolidation persists.
Three Stocks Under ₹100 to Watch
Amid the cautious backdrop, Sumeet Bagadia, Executive Director at Choice Broking, has recommended three stocks under ₹100 for February 16. Investors are advised to follow strict stop-loss levels due to prevailing volatility.
1. Aditya Birla Fashion and Retail
Buy at: ₹73.8
Target: ₹79.5
Stop Loss: ₹71.5
The stock is witnessing consolidation near key support levels. A sustained move above short-term resistance could trigger fresh buying interest.
2. IFCI
Buy at: ₹62.87
Target: ₹68
Stop Loss: ₹60
IFCI has shown steady recovery patterns in recent sessions. Analysts suggest that a breakout with volume confirmation may strengthen upward momentum.
3. South Indian Bank
Buy at: ₹40.95
Target: ₹44
Stop Loss: ₹39.5
The banking stock remains technically poised within a defined trading range. A close above resistance levels could provide short-term trading gains.
Global Triggers and Investor Strategy
Market participants are closely watching global cues, US Federal Reserve commentary, foreign institutional investor (FII) activity, and commodity price trends. The evolving narrative around artificial intelligence-driven disruptions has also contributed to heightened volatility.
Investors are advised to avoid aggressive directional bets until the indices break above key resistance zones. Risk management remains crucial in the current environment.
