Nifty Logs Best Close in 23 Sessions, 26k Breakout Now in Focus

Spread love

Angel One Flags Energy Build-Up Below 26,000 as IT Slumps, Auto & PSU Banks Support Rally

By S. JHA

Mumbai, February 12, 2026 — The benchmark Nifty best close in 23 sessions has injected cautious optimism into Dalal Street, even as the index ended just 0.07% higher. Despite the modest gain, the index marked its strongest closing level in nearly a month, keeping the broader technical structure constructive.

According to brokerage firm Angel One, the undertone remains positive but tightly coiled. “The index ended marginally higher by 0.07%, yet marked its strongest closing level in nearly a month, keeping the broader structure constructive,” Angel One said in its note.

Three-Day Compression Below 26,000

For three consecutive sessions, Nifty has formed narrow-bodied candles just below the psychological 26,000 mark — a classic sign of consolidation and energy build-up.

“Consecutive narrow body candles highlight tight consolidation just under the psychological 26,000 mark, suggesting energy build up,” Angel One observed.

Market participants appear hesitant, with small-bodied candlesticks on the daily chart reflecting caution and indecision around this critical resistance zone.

Sectoral Divergence: Auto, PSU Banks Shine; IT Drags

The rally found support from Auto, PSU Banks, and Pharma, which helped anchor the index despite weakness elsewhere. “Strength in these sectors helped anchor the index and offset pockets of weakness,” Angel One noted.

However, the IT index slipped nearly 2%, logging its worst close since October 2025. The sharp drag from technology stocks capped gains and weighed on overall sentiment.

26,000: The Make-or-Break Level

The spotlight is firmly on 26,000. “26,000 remains the key trigger. A decisive close above this level could spark fresh momentum, while failure to clear it may extend the ongoing range phase,” Angel One stated.

Adding to the tension, significant open interest (OI) accumulation at both the 26,000 call and put strikes for the weekly expiry signals the potential for a volatility spike.

“Significant OI accumulation at the 26,000 call and put suggest surge in volatility any time soon,” the brokerage added.

For now, the market stands at a technical crossroads. A breakout could fuel a fresh leg of the rally. A rejection may prolong the consolidation. Dalal Street waits.

(Disclaimer: This article makes no recommendation for any kind of trades in the stock market.)