Today is Tuesday, February 24, 2026. The Indian markets are showing signs of volatility as we head into the monthly expiry, with Nifty trading slightly below its previous highs in early sessions.
1. GIFT Nifty & Early Indications
- GIFT Nifty Position: Trading around 25,516, down about 0.30% to 0.50% from the previous close. This suggests a cautious or slightly gap-down start for the Nifty 50.
- Global Context: Asian markets are mixed; while the Nikkei is up slightly (+0.5%), the Hang Seng is down nearly 2%. Overnight, the US markets saw a sell-off (Dow -1.68%) driven by tariff uncertainties and AI-related jitters.
2. Support & Resistance (Intraday)
The Nifty closed yesterday at 25,713. Technical analysts highlight a range-bound bias unless key levels are breached.
| Index | Immediate Support | Major Support | Immediate Resistance | Major Resistance |
| Nifty 50 | 25,600 | 25,400 – 25,300 | 25,800 | 25,900 – 26,050 |
| Bank Nifty | 61,000 | 60,500 – 60,200 | 61,500 | 61,765 |
3. FII & DII Data (Feb 23, 2026)
Institutional activity showed a rare surge in FII buying in the cash segment yesterday:
- FII (Cash): Net Buyers of ₹3,483.70 Crore.
- DII (Cash): Net Sellers of ₹1,292.20 Crore.
- FII Index Futures: Net Buyers of ₹686.50 Crore.
- FII Index Options: Net Buyers of ₹2,206.00 Crore.
4. FII Derivative Positions (Index Futures)
- Total Open Interest: FIIs hold approximately 2.70 Lakh contracts in Index Futures.
- Long/Short Sentiment: While FIIs were net buyers yesterday, the overall position remains heavily hedged with a massive Put Long buildup (indicative of protection against expiry volatility).
5. July 2026 Option Chain (Long-term OI)
Note: Liquidity is currently concentrated in the Feb 24 (Today) and March series. July data is speculative:
- Resistance (Call OI): Concentration at 27,000 and 28,000.
- Support (Put OI): Major buildup at 25,000 and 24,000.
- Current Series PCR: Sits near 0.87, which is neutral but leaning toward a “buy on dips” sentiment for short-term traders.
6. Key News & Updates
- Monthly Expiry: Today marks the monthly expiry for Nifty; expect heightened volatility in the last two hours of trade.
- Sector in Focus: IT Stocks (Infosys, TCS) are under pressure following a 13% drop in IBM shares in the US. PSU Banks and Financials showed strength yesterday.
- Corporate Actions: IRCTC is in its last day in the F&O segment before a series change. Gaudium IVF IPO closes today (currently subscribed ~3x).
- Geopolitics: Rising US-Iran tensions continue to keep Crude Oil prices elevated, which is a structural headwind for Indian inflation.
7. Major US Economic Events Tonight
- Fed Speeches: Governor Christopher Waller and Governor Lisa Cook are scheduled to speak. Markets will scan their comments for clues on interest rate trajectories.
- Economic Data: US Consumer Confidence and House Price Index data will be released tonight, which could impact the Dollar Index (