📊 Indian Market Pre-Market Report: February 10, 2026
The Indian market enters today’s session with a distinctly bullish bias. After a strong performance on Monday driven by the India-U.S. trade framework, the momentum is likely to carry forward, with the Nifty 50 eyeing the historic 26,000 psychological milestone.
🚀 GIFT Nifty & Global Backdrop
- GIFT Nifty: Trading at 26,024, up roughly 43 points (+0.17%), indicating a start above the critical 26,000 mark.
- Asian Markets: A sea of green! Japan’s Nikkei 225 is surging over 2.2%, and the Hang Seng is up 0.5%, providing a massive tailwind for Indian equities.
- US Markets: Wall Street remained stable; the Dow Jones closed slightly in the green, while the S&P 500 gained 0.47%, showing steady risk appetite.
🛡️ Nifty & Bank Nifty Levels
Nifty 50 (Spot: 25,812)
- Resistance: 26,000 (Major Barrier) | 26,125 (Breakout Zone)
- Support: 25,750 (Immediate) | 25,650 (Strong Base/Gap Support)
Bank Nifty (Spot: 60,669)
- Resistance: 61,000 | 61,500
- Support: 60,250 | 59,800
💰 FII & DII Institutional Data (Feb 9, 2026)
Big money has returned to the “Buy” side in a significant way:
- FII (Cash): Net Buyers of ₹2,254.64 Cr (Solid conviction for the 5th straight session).
- DII (Cash): Net Buyers of ₹4.15 Cr (Neutral/Stable).
- FII Index Options: Massive net inflow of ₹10,643 Cr, suggesting aggressive bullish positioning or short-covering.
📜 FII Derivatives Position (Feb 2026 Series)
- Long Contracts (Index Futures): Approximately 2.40 Lakh contracts.
- Short Contracts: Significant reduction in shorts seen yesterday as FIIs turned net buyers in cash.
- Current Stance: The FII “Long-Short Ratio” is tilting toward the bulls, indicating that “Buy on Dips” remains the dominant strategy for the month.
📉 Open Interest (OI) Analysis
- Max Call OI: 26,000 (This is the primary battleground for today’s expiry).
- Max Put OI: 25,800 (Acts as the immediate floor).
- PCR (Put Call Ratio): Currently at 1.12, reflecting healthy bullishness but caution near the 26k resistance.
💵 Currency & Economics
- USD/INR: The Rupee is trading around 90.77, a slight depreciation of 11 paise as markets price in US oversight clauses in the new trade deal.
- US Economic Events (Tonight):
- US Retail Sales (8:30 AM ET): Forecast at 0.4%. High impact for global consumption trends.
- Core Retail Sales: Expected to show the underlying health of the US consumer.
- API Crude Oil Inventory: Vital for energy stocks like Reliance and ONGC.
📰 Key News & World Updates
- Trade Fallout: Commerce Secretary Misri emphasized that “national interests” will guide oil imports, even as the US monitors India’s Russian energy ties.
- Corporate: SBI Q3 Results are in focus today; banking stocks are expected to provide the heavy lifting for Nifty.
- World News: * UK Politics: Keir Starmer remains PM for now, but internal resignations are causing ripples in the FTSE.
- Cricket Mania: ICC confirms the high-voltage India-Pakistan T20 World Cup clash for Feb 15, boosting local media and hospitality stocks.
My Perspective: Today is a “Breakout or Fakeout” day. If Nifty sustains above 26,050 for the first hour, expect a short-covering rally that could take us toward 26,200. If it fails at the 26k mark, we might see some consolidation.