📈 Market Outlook Blog – 9 February 2026

🌍 Global & Domestic Market Snapshot Indian equity markets are expected to open on a strong positive note today, supported by upbeat global cues and positive domestic developments. Global markets witnessed a sharp risk-on rally: US Dow Jones crossed the historic 50,000 mark, led by technology stocks. Japan’s Nikkei surged to an all-time high following a decisive election outcome. Other Asian markets like South Korea, Australia, and Taiwan gained 2–4%. Domestically, sentiment is boosted by the announcement of an India–US interim trade framework, which aims to reduce tariffs, expand market access, and enhance bilateral trade. Nearly 50% of Indian exports to the US may see zero tariffs, which is a significant positive for multiple sectors. 📊 Index Technical View 🔹 Nifty 50 Nifty defended the 25,500 support zone and closed near 25,700. Formation of a bullish candle with a long lower shadow indicates strong buying at lower levels. Weekly structure has improved, negating the earlier lower top–lower bottom pattern. Key Levels Support: 25,550 / 25,400 Resistance: 25,900 / 26,100 Immediate trading range: 25,500 – 25,900 Broader range: 25,200 – 26,200 🔹 Sensex Sensex rebounded from the 83,000 zone and closed near day’s high. Strong buying interest visible at lower levels. Key Levels Support: 83,200 / 82,800 Resistance: 84,000 / 84,300 🔹 Bank Nifty Bank Nifty recovered from 59,650 and moved above 60,000. Long lower shadow on daily chart signals buying at dips. Weekly structure remains bullish. Key Levels Support: 59,750 / 59,500 Resistance: 60,500 / 60,750 Trading range: 59,500 – 60,750 🧮 Derivatives & Volatility Put Call Ratio (PCR): ~0.90 (neutral to mildly bullish) India VIX: ~12 (low volatility environment) Option Data Insight Highest Call OI near 26,000 Highest Put OI near 25,600 – 25,500 Indicates a range-bound to positive bias unless strong breakout occurs. 🏭 Sector-wise Market Outlook ✅ Sectors with Positive Bias Textiles & Apparel – Benefiting from tariff reduction and zero-duty exports to the US Pharmaceuticals (Generic & API) – Zero tariffs improve export competitiveness Chemicals & Specialty Chemicals – Trade deal and strong earnings momentum Auto Ancillaries & Engineering – Improved export outlook Metals & Mining – Supported by global growth optimism Capital Goods & Defence – Order inflows and policy support Banking & Financials – Stable rates, improving asset quality ⚠️ Sectors Showing Relative Weakness Select IT stocks – Profit booking after recent rallies High-valuation consumer discretionary names Some PSU finance & renewable plays – Volatility due to fundraising news 🏦 Institutional Activity FIIs: Net buyers (recent session), but overall monthly stance remains cautious DIIs: Mixed activity, selective profit booking 🪙 Commodities & Macro Gold: Trading near elevated levels amid easing volatility Crude Oil: Below $68 per barrel on easing geopolitical concerns RBI Policy: Repo rate unchanged at 5.25%, stance remains neutral India Growth Outlook: GDP and inflation projections marginally upgraded 🧠 Market Strategy Overall bias remains positive with buy-on-dips approach Focus on sectoral themes rather than chasing individual stocks Watch FII flows, global inflation data, and US employment numbers for near-term triggers ⚠️ Disclaimer This blog is for educational and informational purposes only. We are not SEBI registered investment advisors. The views expressed are based on publicly available information and technical analysis. This is not a recommendation to buy or sell any securities. Investors should consult their financial advisor before making any investment decisions. Stock market investments are subject to market risks.