📊 Indian Market Pre-Market Report: February 5, 2026
The Indian markets are set for a neutral to slightly positive start today. While global cues are mixed, domestic sentiment remains cautiously optimistic as indices hold above crucial moving averages.
🚀 GIFT Nifty & Global Setup
- GIFT Nifty: Trading at 25,864, up approximately 27 points (+0.10%), suggesting a flat to green opening.
- US Markets: Wall Street saw a mixed session; the Dow Jones gained 260 points, while Tech stocks faced some pressure.
- Asian Markets: Trading with caution; Japan’s Topix is up 0.4%, while Hang Seng futures are down over 1%.
🛡️ Nifty & Bank Nifty Levels
Nifty 50 (Spot: 25,776)
- Resistance: 25,850 (Immediate) | 26,000 (Major Psychological)
- Support: 25,640 (Immediate) | 25,500 (Strong Demand Zone)
Bank Nifty (Spot: 60,238)
- Resistance: 60,400 | 60,800
- Support: 59,800 | 59,100 (50-DEMA)
💰 FII & DII Activity (Feb 4, 2026)
Institutional flows turned mildly positive in the cash segment yesterday:
- FII (Cash): Net Buyers of ₹29.79 Cr
- DII (Cash): Net Buyers of ₹249.54 Cr
- FII Index Futures: Net Inflow of ₹1,772.25 Cr (Indicating short covering/long additions)
- FII Index Options: Net Outflow of ₹4,895.92 Cr
📜 FII Derivatives Position (Feb 2026 Month)
FIIs are showing a “Buy on Dips” strategy for the February series so far:
- Long Contracts (Index Futures): Approximately 2.56 Lakh contracts open.
- Short Contracts: Significant short covering was seen yesterday, shifting the bias toward a neutral-to-bullish tilt.
- PCR (Put Call Ratio): Nifty PCR has improved to 1.07, indicating more put writing (bullish) compared to previous sessions.
📉 Open Interest (OI) Analysis
- Max Call OI: 27,000 (Heavy resistance)
- Max Put OI: 25,000 (Strongest support for the month)
- Nifty Range: Market participants expect a range of 25,500 – 26,000 for the near term.
💵 Currency & Economics
- USD/INR: The Rupee is trading near 90.44 against the US Dollar.
- US Economic Events (Tonight): * Initial Jobless Claims: Forecast 212K (High impact).
- JOLTs Job Openings: Key for labor market health.
- FOMC Member Bostic Speaks: Markets will watch for hints on interest rate trajectories.
📰 News & World Updates
- Global Diplomacy: White House confirms nuclear talks between the US and Iran will take place this Friday in Oman.
- Trade Deal: Commerce Minister Piyush Goyal announced that the India-U.S. trade deal successfully protects India’s dairy and agricultural sectors.
- Geopolitics: President Xi Jinping has warned the US to handle arms sales to Taiwan with “prudence.”
- Corporate: IT sector under pressure after sharp corrections in major tech stocks yesterday.
My Perspective: Watch the 25,850 level on Nifty. If we sustain above this for 30 minutes, we could see a move toward 26,000. However, if the opening gains fizzle out, the 25,650 support will be the line in the sand for bulls.