The market opened with a gap up of over 50 points and managed to sustain the opening strength, riding higher for most of the session. Price gradually moved toward the 25,990–26,000 zone, which acted as a psychological and technical resistance area.
Around 1:30 PM, NIFTY failed to break above 26,000 and corrected sharply to around 25,890, where it found temporary support. From this level, the index attempted a recovery, but the bounce stalled near 25,960, indicating continued supply at higher levels. The market eventually closed near 25,925, reflecting a day of controlled movement rather than directional expansion.
Throughout the session, price action remained compressed, offering very limited intraday trading opportunities. Most moves lacked follow-through, making risk–reward unfavorable for fresh trades.
From a trading standpoint, I initiated a positional intraday trade near the highs:
17 Feb 26000 PE
- Entry: 143 (near 25,990)
- Exit: 164 (towards the end of the session)
This trade worked primarily due to resistance holding rather than strong intraday momentum.
I continue to hold my earlier BTST position:
17 Feb 25850 PE