India’s January trade deficit widens to $34.7 Billion, US stays top export destination- Daily Market Update 17th Feb 2026

Benchmark Nifty index ended higher at 25683 spot levels after adding 212 points to its previous closing values.

Broader markets underperformed the benchmark as Mid and Small cap indices gained 0.48% & 0.11% respectively.

Majority of sectoral indices, tracked at NSE, ended in green. Amongst them, Nifty Realty, Nifty Bank were at the top of the tally, gained 1.59% & 1.27% respectively followed by Oil & Gas, Pharma and Healthcare index that gained around 1% each. On the other hand, Media index was down 0.87%.

Nifty index is trading in a “broadening formation” on daily charts and witnessed a relief rally from the downward sloping trendline of the said formation. Going ahead, a sustained trading above 25800 hold the key for further rise up to 26000-26050 spot levels. Conversely, a decisive fall below 25550 might drag it towards 25400 and lower levels in near term.

Derivatives Overview & Outlook

Yesterday, long buildup was seen in Banknifty futures with increase in open interest by 13.5% along with short covering among Nifty and Finnifty futures that shed around 3% and 8.5% of open interest respectively.

All of sectoral indices, barring Automobile and Chemical, settled on a positive note. Amongst them, Cement, Newage and Technology stocks witnessed maximum addition of long positions along with some short covering among Infrastructure and Telecom stocks.

On option front, put writing along with call unwinding was seen at multiple strikes. Maximum positions are at 26000 CE followed by 26500 CE and 25500 PE followed by 24500 PE.

Institutional Trading Activity

Yesterday, FIIs sold stocks worth Rs 972 Cr in the cash segment, bought index futures worth Rs 438 Cr also bought stocks futures worth Rs 35 Cr. DIIs were net buyers in the cash segment to the tune of Rs 1667 Cr.

Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels

Nifty – Resistances 25850-25925; Supports 25600-25450

Banknifty – Resistances 61300-61500; Supports 60750-60500

Finnifty – Resistances 28400-28500; Supports -28200- 28100

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