Nifty ended 212 points higher and the Sensex rose by 650 points.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 16 February 2026: Today, the benchmark indices bounced back sharply, with the Nifty ending 212 points higher and the Sensex rising by 650 points. Among sectors, Energy, Reality, and PSU Banks indices rallied over 1.5 percent, whereas despite the strong market momentum, the Capital Market index shed 1.25 percent. Technically, after a weak open, the market took support near the 20-day SMA (Simple Moving Average) at 25,400/82300 and bounced back sharply. On daily charts, it has formed a long bullish candle, and on intraday charts, it has formed a promising reversal pattern, which is largely positive.
For day traders, 25,600/83000 and 25,500/82700 would act as key support zones. As long as the market is trading above these levels, the pullback formation is likely to continue. On the higher side, it could bounce back to 25,800–25,875/83500-83700. On the flip side, below 25,500/82700, the sentiment could change. If the market falls below this level, traders may prefer to exit their long positions.
