- Sensex closed above 84,000 with a gain of over 450 points after the US-India trade deal
- Nifty 50 ended 0.7% higher above 25,860, led by State Bank of India's record high shares
- Nifty support is at 25,500-25,400, with resistance levels near 26,100 and 26,300
Trade Setup For Feb. 10: Domestic equity benchmarks Sensex and Nifty 50 extended gains for the second consecutive trading session after the India-US trade interim trade deal framework was announced during the weekend, putting an end to tariff uncertainties. BSE Sensex closed more than 450 points higher to settle above 84,000 and the NSE Nifty 50 settled 0.7% higher to end above 25,860. The gains in the equity indices were led by State Bank of India after the shares of country's largest lender surged to record high following Q3 upbeat and optimistic guidance.
The market favour titled in favor of buyers. For Nifty 50, the bias remains positive and a follow through strength above Monday's high 25,922 will open further upside towards 26,100 and 26,300 levels in the coming sessions. ''Any near-term correction from current levels is likely to offer a buy-on-dips opportunity with immediate support placed at 25,500-25,400 levels being the confluence of the last week's breakout area and the 20-day EMA,'' said Bajaj Broking.
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Volatility is likely to stay at an elevated level on account of volatile global cues. A strong support for the NSE benchmark is seen in the 25,000-25,200 range, aligned with the 52-week EMA and the 80% retracement of the ongoing up-move, according to the brokerage. The index formed a high wave candle with a higher high and a higher low and a bullish gap below its base (25703- 25780) signaling continuation of the positive momentum.
Nifty Bank
Bank Nifty formed a fresh all time high on a closing basis. Index is expected to maintain positive bias and head towards 61,200 and 61,800 levels in the coming sessions. The index has immediate support at 59,500-59,200 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, as per Bajaj Broking.
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Market Recap
Last week, D-Street ended its best week in three months, as the long-awaited trade deal with the US lifted a key overhang for markets, overpowering the budget-day drop and the global software selloff caused by fears of Anthropic AI model-led disruption. Nifty 50 rose 0.2% to 25,693.70, while the BSE Sensex added 0.32% to 83,580.40 on Friday, Feb. 8, 2026.
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