Bajaj Broking Closing Market Commentary for 10th February 2026

Indian equity markets extended their upward momentum, closing higher for the third consecutive session on February 10, though gains were capped as benchmarks slipped into a range-bound trade after a positive opening. With tariff-related concerns easing, the near-term outlook will be guided by Q3 earnings, which have so far been mixed and largely below expectations. Investors are also assessing the combined impact of recent fiscal and monetary measures on earnings revival in the coming quarters. At the close, the Sensex rose 208.17 points, or 0.25%, to 84,273.92, while the Nifty added 67.85 points, or 0.26%, to end at 25,935.15. Barring pharma, healthcare and PSU Bank stocks, all sectoral indices finished in the green. The media index led gains with a 2.4% surge, followed by the auto index, which advanced 1.3%. Broader markets also posted modest gains, with the Nifty Midcap and Small cap indices up 0.49% and 0.38% respectively.

Nifty Outlook

The index formed a second consecutive high-wave candle with a higher high and higher low indicating consolidation with positive bias around the 26,000 levels. Going ahead, a move above the psychological level of 26,000 will lead to further upside toward the key resistance area of 26,200-26,300 in the coming sessions. Failure to move above 26,000 levels will signal some consolidation in the range of 25,500-26,000 levels. Bias remains positive and we believe dips should be used as buying opportunity, with short term support seen at 25,500-25,400 being last week's breakout area and the 20-day EMA. Volatility may remain high due to uncertain global cues. Strong support is placed in the 25,000-25,200 range, supported by the 52-week EMA and the 80% retracement of the current up-move.

Bank Nifty Outlook

Bank Nifty formed a small bearish candle which remained contained inside previous session price range signaling consolidation amid stock specific action after previous 2 sessions strong up move. Going ahead, a move above Monday's high of 60876 will lead to further upside toward the 61,200 and 61,800 levels in the coming sessions. Failure to move above Tuesday high will signal some consolidation in the range of 59,800-60,800 levels. Bias remains positive and we believe dips should be used as buying opportunity, with short term support seen at 59500-59200 levels being the confluence of the 20- and 50-days EMA. Volatility is likely to remain elevated amid uncertain global cues. Key short-term support is placed in the 58,500-58,000 zone being the confluence of the 100 days EMA and the bullish gap area of last Tuesday.

Source : Equity Bulls

Keywords

BajajBroking ClosingMarketCommentary Nifty Sensex NSE BSE