Stock Market Technical Analysis | 9 to 13 Feb 2026 Weekly Wrap

Markets turned range-bound with rising volatility as banking strength offset IT weakness. Here’s the key levels, sector trends, and derivative cues to navigate the coming week.

Expert recommendation by:

• Mr. Ketan Kaushik - Derivative Analyst

Equity

• Benchmark Index traded volatile in the previous week before closing with 0.87% cut at 25471 level. Banking Index outperformed the benchmark index as it closed with 0.11% gain at 60187 level.
• Among the Nifty constituents, SBIN and EICHERMOT outperformed the benchmark index as they closed with 12.40% and 12.37% gains while INFY and HCLTECH underperformed as they closed with 9.16% and 8.69% cut respectively. Among the Bank Nifty constituents SBIN outperformed the benchmark index as it closed with 12.40% gain while IDFCFIRSTB underperformed the benchmark index as it closed with 4.19% cut.
• Among sectors, NIFTYMEDIA index outperformed the benchmark index during the previous week as it closed with 5.18% gain while NIFTYIT index underperformed as it closed with 8.23% cut. MIDCAP index performed better than the benchmark index as it closed with 0.11% cut while SMALLCAP index outperformed the benchmark index as it is closed with 0.56% gain.
• Volatility index (India VIX) closed with 12.49% gain at 13.51 level.
• FII were net sellers as they sold stocks worth Rs 4,019 Cr while DII were net buyers as they bought stocks worth Rs 6,884 Cr during the previous week in the cash segment.
• Globally, equity markets traded mixed as US market (DJIA) closed with 1.23% cut while European market (STOXX 600) closed with 0.09% gain.

Derivatives

• Derivatives data for Nifty suggest max OI addition at 25600 call and 25000 put with max OI at 26000 call and 25000 put side (17th Feb expiry). Nifty cumulative PCR closed at 0.65 for Feb 13.
• Derivatives data for Bank-nifty suggest max OI addition at 60500 call and 56500 put with max OI at 60000 for both side call and put side (24th Feb expiry). Bank-nifty cumulative PCR closed at 0.93 for Feb 13.

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Performance:

Indices

Source: NSE

Sector Gainers/Losers

Source: NSE

FII / DII ACTIVITY (WEEKLY)

Source: NSE

SUPPORT/RESISTANCE LEVEL FOR UPCOMING WEEK

Source: NSE

DAILY EXPONENTIAL MOVING AVERAGE

Source: NSE

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

• Benchmark index traded volatile in the previous week and closed with bearish candlestick formation on the weekly chart
• Benchmark index is likely to trade volatile in the coming week
• Benchmark Index has support at 25,000– 24,800 level and resistance at 25,900–26,100 level

BANKNIFTY (WEEKLY)

• Banking index outperformed the benchmark index however, it also closed with bearish candlestick formation on the weekly chart
• Banking index is likely to trade in line with the Benchmark index in the coming week
• Banking index has support at 59,200-58,700 and resistance at 61,100 -61,600 level

FINNIFTY (WEEKLY)

• FINNIFTY index outperformed the banking index and closed with indecisive candlestick formation on the weekly chart
• FINNIFTY is likely to trade in line with the banking index in the coming week
• FINNIFTY has support at 27,600-27,400 level and resistance at 28,600-28,800 level.

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Market FAQs – Weekly Summary

What is the current trend for Nifty?

Nifty closed at 25,471 with a 0.87% decline, indicating a volatile and range-bound trend. Derivatives data suggests strong resistance near 25,600–26,000 and support around 25,000, pointing to consolidation with a cautious bias.

Which sectors showed strength last week?

Banking and Media outperformed the broader market, with Bank Nifty closing marginally higher. PSU banking stocks, especially SBI, led the gains, reflecting sectoral rotation toward financials.

Which sectors underperformed the market?

The IT sector remained the biggest laggard, declining over 8%. Weak global cues and pressure in large-cap IT stocks like Infosys and HCL Tech contributed to the downside.

What does FII and DII activity indicate?

FIIs remained net sellers (₹4,019 Cr), while DIIs provided support with net buying of ₹6,884 Cr. Continued domestic institutional buying is acting as a cushion for market declines.

What does derivatives data suggest for the coming week?

Max open interest at 26,000 call and 25,000 put indicates a defined trading range. The Nifty PCR at 0.65 reflects cautious sentiment, while Bank Nifty PCR at 0.93 signals relatively stronger positioning.

How should traders approach the market now?

With India VIX rising 12.49%, traders should expect higher volatility and prefer a range-trading strategy, focusing on sector rotation opportunities rather than aggressive directional bets.

Before You Trade, Strengthen Your Foundations with These Guides

• For a stronger understanding of indicators such as RSI, VWAP, and trendlines, check our 👉 Technical Analysis Fundamentals section.
• Want to refine your risk-reward planning? Explore our insights on 👉 Position Sizing & Risk Management Strategies.
• Understand the sectoral trends impacting stocks like Asian Paints. 👉 Consumer Durables Sector Analysis
• Learn how to interpret derivatives data for better trading decisions. 👉 Advanced Trading Strategies