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Below the Quote on Pre-market comment for Monday February 16 by Aakash Shah, Technical Research Analyst, Choice Broking

Indian equity markets are likely to begin the February 16 session on a weak note, as indicated by GIFT Nifty, which is trading around 25,434, lower by approximately 84 points, signalling a cautious opening tone.

The Nifty 50 witnessed a steep gap-down opening of more than 200 points and stayed under continuous selling pressure throughout the trading session. The early support zone near 25,500 failed to hold, and stronger selling in the latter half pushed the index to an intraday low of 25,444. It finally settled at 25,471, reflecting a clear defensive market mood. On the technical front, resistance is seen in the 25,600–25,650 zone, while immediate support is placed around 25,300–25,350.

The Bank Nifty also started the day with a negative gap of over 180 points and remained dominated by sellers for most of the session. The index declined to a low of 60,073 during the day and closed at 60,186.65, registering a sharp loss of 553 points, which highlights strong bearish control and limited buying interest. From a technical perspective, resistance is located at 60,500–60,600, with key support in the 59,850–59,950 range.

In institutional activity, Foreign Institutional Investors (FIIs) were net sellers to the tune of ?7,395 crore on February 13, while Domestic Institutional Investors (DIIs) provided support by purchasing equities worth ?5,553 crore.

Given ongoing global uncertainty and elevated market volatility, traders should remain disciplined and selective, prioritizing fundamentally strong stocks during market pullbacks. New long positions should only be initiated if the Nifty achieves and sustains a clear breakout above the 26,000 level, as this would indicate a more stable and credible improvement in overall market sentiment.

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