Technical Analysis for February 24, 2026 –
Nifty Predictions, Bank Nifty Predictions & Sensex Predictions
The Indian Stock Market closed near a critical equilibrium zone, with Nifty showing clear indecision after testing both support and resistance zones intraday.
Price action on the index respected a strong support cluster near 25,600 while repeatedly facing supply pressure around 25,700–25,800, where call writers remain active according to the latest derivative data.
In this Technical Analysis report, the focus is on Nifty Predictions, Bank Nifty Predictions and Sensex Predictions for 24th February 2026, built around clearly defined levels and option data rather than guesswork.
The goal is to offer a structured Market Prediction with separate bullish and bearish paths, making it easier to frame a Market Analysis for Tomorrow and convert today’s charts into tomorrow’s trade setups.
Global Market & Sentiment Overview
Before executing any index strategy, traders should track overnight moves in the US markets, as strong trends or reversals there often trigger gap openings in the Indian Stock Market.
Likewise, the early behaviour of Asian indices can validate or contradict the US cues, shaping whether Nifty and Bank Nifty extend trends or fade gaps on 24th February 2026.
Crude oil and the Dollar Index also remain crucial macro variables because persistent strength in either can cap equity upside by reviving inflation or foreign outflow concerns.
For this session, traders should be prepared for volatility spikes if there is a sudden move in crude or currency overnight, especially around major option strike zones where positioning is already heavy.
Nifty Technical Analysis
Daily candle pattern & structure
On the daily chart, Nifty has printed a classic indecision candle – a doji-type structure – right near the upper band of the recent range around 25,700.
This came after price first retested the lower intraday zone near 25,650 and then spent most of the session consolidating, before facing stiff supply at the higher levels due to heavy call open interest.
Such a doji at resistance indicates that neither bulls nor bears were able to take full control, reinforcing a short-term sideways-to-slightly-bullish structure rather than a clean trending day.
The broader context remains that Nifty has rallied sharply in the previous legs, so current price action is more of a pause and digestion phase than an immediate trend reversal.
Support and resistance levels for Nifty
Based on recent price action and option chain data, the following zones are crucial for 24th February 2026:
- Immediate support: 25,650–25,600 zone (strong demand plus high put open interest, neckline-type support).
- Pivot zone: 25,700 (tug-of-war level where both call and put writers are active).
- Major resistance: 25,800 (double-confirmation resistance from both price action and very high call OI).
- Upside extension target on breakout: 25,900 (expected post-breakout resistance once 25,800 is convincingly cleared).
The 25,600 zone is a “must-hold” level for bulls; a decisive break below it would weaken the short-term Technical Analysis view for Nifty, while sustained trade above 25,800 would confirm a fresh bullish leg towards 25,900 and beyond.
OI data, PCR and derivative view
Option data shows a very heavy call open interest buildup at the 25,800 strike, with additional sizeable positioning at 25,700 calls, which is why the market repeatedly struggled to push higher into that region.
On the downside, strong put open interest at 25,600 and 25,700 indicates that put writers are willing to defend these zones as key supports, creating a narrow but powerful battlefield between bulls and bears.
The put–call ratio around at-the-money strikes is broadly balanced, suggesting neither extreme bullishness nor panic-driven short covering; rather, it reflects a range-bound, premium-collection environment.
Fresh aggressive short positions are not very heavy, which reduces the probability of a sudden, violent short-covering rally unless there is a sharp macro trigger or a clean breakout above 25,800.
Nifty Predictions
For 24th February 2026, Nifty Technical Analysis points to a range-bound yet directional opportunity around key levels:
- Bullish bias holds as long as Nifty sustains above 25,600 on closing or 15‑minute basis.
- Range for the day is likely to remain between 25,600 and 25,900, with the central battle around 25,700–25,800.
A sustained move above 25,800, especially with a strong 15‑minute close, can trigger follow‑through buying towards 25,880–25,900, where profit booking is likely to emerge.
On the downside, failure to hold 25,700 intraday can lead to a retest of 25,650–25,600, which remains the primary demand zone; only a decisive break below 25,600 will open room for a deeper corrective leg.
Bank Nifty Technical Analysis
Price action explanation
Bank Nifty continues to underperform slightly relative to Nifty, as repeated rejections from the higher band have created a visible overhead supply zone.
Recent price action has carved out a clear neckline region around 61,000, below which a more meaningful correction can unfold according to the current pattern structure.
Sellers have been active near the upper swings, creating long wicks and intraday rejections, signalling that banks are facing profit booking pressure at higher valuations.
However, as long as the 61,000 neckline area holds on a closing basis, the index remains in a broad consolidation phase rather than a confirmed bearish breakdown.
Key Bank Nifty levels
Using recent market observations and previously established ranges, the following levels remain important:
- Support zone 1: 61,000–60,956 (neckline and immediate demand belt).
- Support zone 2: 60,600–60,200 (deeper intraday supports from prior swings).
- Resistance zone 1: 61,362 (upper band of recent no‑trade zone).
- Resistance zone 2: 61,600–62,000 (next supply band where sellers previously emerged).
A clean break and sustained trade below 61,000 can activate a pattern completion to the downside, while a strong recovery from this neckline keeps Bank Nifty in a sideways structure within the 60,956–61,362 band.
Option data interpretation
From a Technical Analysis and options perspective, round levels like 61,000 naturally attract heavy open interest, often turning into strong inflection points during expiry‑proximate sessions.
Given the clear neckline behaviour at 61,000, a large part of intraday trading activity is likely to cluster around this strike, making it a key reference for both intraday scalpers and positional option writers.
If Bank Nifty holds above 61,000 and gradually reclaims 61,362, short gamma positions in calls can get uncomfortable, leading to a push towards 61,600–62,000.
Conversely, a decisive slip below 61,000 backed by volume and follow‑through selling can embolden put buyers and trigger a quick slide to lower supports.
Bank Nifty Predictions
For 24th February 2026, Bank Nifty Technical Analysis indicates a make‑or‑break day around the 61,000 neckline:
- Above 61,362, the index can attempt a move towards 61,600 and 62,000, where profit booking is expected.
- Below 61,000, the bias shifts to bearish, with room for a quick dip towards 60,600–60,200.
Traders should align intraday positions with 15‑minute closes around 61,000; whipsaws are likely if trades are taken purely on spikes without candle confirmation.
Sensex Technical Analysis
Support & resistance zones
Sensex has been consolidating in a broad band roughly between 82,230 and 83,970 over the last several sessions, signalling high‑level digestion rather than a trend breakdown.
Within this broader band, a tighter operative range is visible between about 82,700 support and 83,150 resistance, which has repeatedly acted as an intraday trading channel.
Key reference levels for 24th February 2026 are:
- Supports: 82,700, 82,190, 81,800–81,450 zone.
- Resistances: 83,150, 83,600, 83,980–84,330 band.
These levels combine recent swing highs/lows with previously tested zones, forming the backbone of the Sensex Technical Analysis and guiding both intraday and positional strategies.
Sensex Predictions
Momentum on Sensex remains mildly positive but capped, as every push towards the upper band has drawn profit booking, while dips to lower support have attracted buying interest.
This leads to a constructive consolidation where the index is building a base at higher levels, with buyers still willing to defend declines in the 82,700–82,200 region.
For 24th February 2026, a sustained move above 83,150 can open the path towards 83,600 and 83,980, whereas failure to hold 82,700 may invite a retest of 82,190 and lower supports.
Hence, Sensex Predictions favour a range‑bound yet buy‑on‑dips approach, as long as the index remains above its deeper support band near 81,800–81,450.
Market Analysis for Tomorrow (24th Feb 2026)
Bullish setup
A bullish Market Prediction for 24th February 2026 activates if the following conditions are met:
- Nifty: 15‑minute candle closes above 25,800 with follow‑through volume; upside potential towards 25,880–25,900.
- Bank Nifty: Sustained trade above 61,362, opening the door to 61,600 and 62,000.
- Sensex: Break and close above 83,150, targeting 83,600 and then the 83,980 band.
In such a scenario, long trades on the indices and at‑the‑money call options can outperform, while deep out‑of‑the‑money puts may decay rapidly.
Traders should still keep stop‑losses just below breakout zones to avoid getting trapped in failed breakouts.
Bearish setup
The bearish Technical Analysis path comes into play if key necklines give way:
- Nifty: Failure to hold 25,600 on a closing basis, confirming loss of crucial support and inviting a sharper corrective leg.
- Bank Nifty: Break and sustained trade below 61,000, triggering pattern completion to the downside in banks.
- Sensex: Slip below 82,700 with follow‑through selling, paving the way for a move towards 82,190 and then the 81,800–81,450 band.
Under this setup, put buyers and intraday shorters gain the edge, while aggressive call writers near resistance can continue to dominate.
Breakout and breakdown levels (summary)
- Nifty breakout: Above 25,800.
- Nifty breakdown: Below 25,600.
- Bank Nifty breakout: Above 61,362.
- Bank Nifty breakdown: Below 61,000.
- Sensex breakout: Above 83,150.
- Sensex breakdown: Below 82,700.
These are the core numbers around which tomorrow’s Market Analysis for Tomorrow should be structured for both intraday and short‑term positional trades.
Option Matrix India’s View
Option Matrix India’s Technical Analysis for 24th February 2026 maintains a cautiously bullish but range‑bound stance on the Indian Stock Market.
Nifty remains in a strong positional uptrend as long as 25,600 holds, while the heavy call OI at 25,800 suggests that upside may be staggered rather than one‑way.
For directional traders, the preferred strategy is:
- Look for long opportunities above 25,800 on Nifty and above 61,362 on Bank Nifty, with tight stop‑losses just below breakout zones.
- Consider buy‑on‑dip setups near 25,600 on Nifty and near 61,000 on Bank Nifty, but only if price shows clear rejection wicks or bullish candles at these levels.
For option traders, the environment favours:
- Range‑bound premium strategies (such as limited‑risk spreads) around the 25,600–25,800 band on Nifty and the 60,956–61,362 band on Bank Nifty, as long as neither side breaks decisively.
- Avoiding naked option selling around key event days or when global cues are extreme; prefer defined‑risk structures with clear exits.
Risk management should remain top priority: position sizing must be conservative near major breakout/breakdown levels, and traders should avoid over‑leveraging against strong option‑writer zones highlighted in this Technical Analysis.
Final Verdict for 24th Feb 2026
For 24th February 2026, the base Technical Analysis view is sideways‑to‑bullish for the Indian Stock Market, with clearly defined levels acting as filters.
Above 25,800 on Nifty, 61,362 on Bank Nifty and 83,150 on Sensex, the indices can extend higher; below 25,600, 61,000 and 82,700 respectively, the tone tilts towards short‑term weakness.
Traders should align with these levels rather than emotions, treating them as objective triggers for both intraday and positional Market Prediction.
Disclaimer
This article is for educational purposes only and is based on Technical Analysis concepts, publicly available price action and derivative data.
It does not constitute investment advice, stock recommendations or a solicitation to buy or sell any security in the Indian Stock Market.
Trading and investing in equities, derivatives and options involve substantial risk, including the possible loss of principal.