Nifty 50, Sensex today: What to expect from Indian stock market in trade on February 26

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Sensex eased 15.44 points to close at 73,142.80, while the Nifty 50 ended 4.75 points, or 0.02%, lower at 22,212.70. Nifty 50 formed a small negative candle on the daily chart at the new highs. “Nifty is currently placed at the previous broken resistance area of 22,200 levels.

Having failed to continue with strong upmove at new highs, the market could shift into further consolidation or minor weakness in the next week," said Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities. On the weekly chart, Nifty 50 formed a small positive candle with minor upper and lower shadow, which indicates high wave type candle formation at the swing highs. Also Read: Indian stock market: 7 key things that changed for market overnight - Gift Nifty, Nikkei’s record high to FPI flows “But, having shifted into a broader range movement in the last one month, the predictive value of this pattern could be less.

The near-term uptrend of Nifty remains intact. Having faced hurdles at 22,250 - 22,300 levels, there is a possibility of a minor dip in the market this week and that could be a buy on dips opportunity," said Shetti. Here’s what to expect from Nifty 50 and Bank Nifty today: The Nifty 50 remained range bound and closed flat with a negative bias on February 23.

“Nifty opened higher but failed to sustain the morning momentum, leading to a closing at the day’s low due to profit booking. However, the sentiment remained positive for the short term as the index closed above the crucial resistance level of 22,200, with the next resistance seen at 22,400. Short-term support is positioned at 21,900," said Rupak De, Senior Technical Analyst, LKP Securities.