Nifty prediction for tomorrow, Wednesday: High wave candlestick pattern on chart; check support, resistance, OI data, RSI, PCR

Nifty Prediction For Tomorrow By Experts, Wednesday, Feb 11: Indian stock market indices Sensex and Nifty 50 gained for the third straight session on Tuesday (February 10, 2026) amid firm global cues and optimism over India-US trade deal. The NSE Nifty index remained largely range-bound and closed at one-month high of 25,935.15, 67.85 points or 0.26 per cent. In the intraday session, the Nifty index appreciated by 122.15 points or 0.47 per cent to hit a high of 25,989.45. It made a low of 25,870.45. The BSE Sensex index climbed 208.17 points or 0.25 per cent to end at 84,273.92.

Sectoral trends were mixed with Nifty Media, Nifty Auto and Nifty Metal leading the gains. Nifty Pharma, Nifty Healthcare and Nifty Chemicals posted minor losses. The Nifty Bank index slipped 42.95 points or 0.071 per cent to finish at 60,626.40.

From the broader market, Midcaps and smallcaps continued to outshine the benchmarks, with the Nifty Midcap 100 rising 0.49 per cent and the Nifty Smallcap 100 gaining 0.38 per cent.

Market volatility eased further, with India VIX declining 4.31 per cent to 11.66, indicating a more stable trading environment and controlled price action.

Top Gainers, Losers NSE Today

From Nifty 50 pack, 27 stocks gained while 23 declined. Eternal was the top gainer, rising more than 5 per cent. It was followed by Tata Steel, ONGC, M&M, Bajaj Auto, Tech Mahindra, Power Grid, L&T, Eicher Motors, NTPC, TCS, Max Health, Grasim Industries, Maruti Suzuki, Axis Bank, Nestle India, Titan, HUL and ICICI Bank.

HCL Tech emerged as the top loser as it fell 2 per cent. Bajaj Finance, Dr Reddy's, Shriram Finance, Airtel, Tata Consumer Products, Adani Enterprises, Asian Paints, Adani Ports, HDFC Life, HDFC Bank and UltraTech Cement were other major losers.

Meanwhile, foreign institutional investors bought equities worth Rs 69.45 crore on Tuesday, according to exchange data. DIIs were also the buyers as they picked stocks worth Rs 1,174.21 crore.

Vinod Nair, Head of Research, Geojit Investments, said that markets continued upward momentum, supported by the US trade deal and positive cues from key Asian markets. A strong resurgence in FII inflows, coupled with rupee appreciation, is further bolstering the investor sentiment.

"Tariff-related concerns are largely easing and the near-term market trajectory is expected to hinge on Q3 earnings, which have been mixed and below expectations so far. Investors are now focused on the combined impact of recent fiscal and monetary measures to revive earnings momentum in the coming quarters," Nair said.

Nifty Support And Resistance For Tomorrow

Despite the weekly expiry today (Tuesday, Feb 10), the Nifty index remained largely range-bound, oscillating within a tight 100-point consolidation zone. NSE cash market volumes were higher by 3 per cent compared to the previous session.

Nandish Shah, Deputy Vice President, HDFC Securities, said that Nifty is in uptrend and holding above all key moving averages. Indicators and oscillators like MACD and RSI are holding bullish setup on daily and weekly charts.

The expert said that Nifty's short term resistance is seen near 26,000 above which index could extend the rally towards fresh all time high above 26373. On the downside, band of 25600-25670 could offer strong support to the index.

Ajit Mishra, SVP, Research, Religare Broking, has reiterated bullish stance on the Nifty and recommended a buy-on-dips approach.

"Some consolidation around current levels within a narrow range is likely before the index makes another attempt to decisively cross the 26,000 hurdle. Participants should therefore stay selective and align positions with sectors showing rotational strength, while IT continues to lag," he said.

Nifty's 50-DMA, placed around 25,790, is acting as a crucial support, Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse, said. As long as the index holds above 25,790, the gradual upward momentum is likely to continue towards 26,000.

"A decisive breakout above 26,000 could trigger short covering and propel the index towards 26,200," the expert said.

Nifty has formed a small red candle on the daily chart with minor upper and lower shadow. According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, Nifty's daily chart signals a formation of high wave type candle pattern, which echoes minor volatility in the market at the highs.

"The underlying trend of Nifty continues to be positive amidst range bound movement. A decisive move above the resistance of 26000 levels could open more upside towards 26350 levels in the near term. Nifty has immediate support is placed at 25800," the expert said.

In the derivatives segment, heavy Call writing was observed at the 26,000 strike. An open interest build-up of around 59.05 lakh contracts at the 26,000 Call strike signals that this is a formidable resistance. On the other hand, nearly 38.70 lakh Put contracts were added at 25,500, meaning it remains an immediate support.

Nilesh said that OI data points towards a narrow near-term trading range in Nifty. "Overall, the market setup favors a buy-on-dips strategy near key support levels, while traders may wait for a decisive breakout above resistance zones before initiating fresh directional positions."

Nifty's Relative Strength Index (RSI) is hovering near the 60-mark. It signals easing of selling pressure and a gradual weakening of bearish dominance.

Nifty Put–Call Ratio (PCR) remains in a positive zone at 1.02. It reflects improving sentiment.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)