Indian Stock Market Pre-Market 23 Feb 2026 | Nifty at 25,571 | NTPC Breakout | Indian Bank & Bandhan Bank Setup
Updated: 23 February 2026
Category: Pre Market | Market Analysis
By CapitalKeeper Research Desk
Nifty Reclaims 25,500; Banking Strength Returns | NTPC Breakout in Focus
Nifty closes at 25,571 and Bank Nifty at 61,172. Technical analysis using RSI, MACD and volume. Global cues and stock ideas in NTPC, Indian Bank and Bandhan Bank.
The Indian stock market begins the week on a relatively stable footing after benchmark indices recovered from recent corrective pressure. On 20 February, Nifty managed to close at 25,571.25, regaining the crucial 25,500 mark. Bank Nifty ended at 61,172.00, while Sensex settled at 82,814.71. Fin Nifty closed at 28,210.60, indicating resilience in financial services.
After last week’s brief pullback, the market appears to be stabilizing. The broader structure suggests consolidation with a bullish bias, provided key support levels remain intact. Banking and power stocks are emerging as leaders again, while selective midcaps are showing strong technical setups.
Market Snapshot – Previous Close
| Index | Closing Level | Trend View | Key Level |
|---|---|---|---|
| Nifty 50 | 25,571.25 | Consolidation with bullish bias | 25,400 support |
| Bank Nifty | 61,172.00 | Positive | 60,800 support |
| Sensex | 82,814.71 | Neutral-Bullish | 82,000 base |
| Fin Nifty | 28,210.60 | Stable | 27,900 support |
The ability of Nifty to reclaim 25,500 reduces immediate downside risk and improves short-term sentiment.
Global Market Cues
Global markets are offering mixed but stable cues. US indices ended last week without major volatility, while Asian markets are trading in a narrow range. Commodity prices remain steady, and crude oil continues to consolidate.
Key global factors influencing today’s pre-market:
- Stable US bond yields
- Controlled inflation commentary
- Positive undertone in global banking stocks
- No major geopolitical shocks
Overall, global sentiment does not indicate aggressive risk-off positioning, which supports a stable opening for Indian equities.
Nifty Technical Outlook – RSI, MACD & Volume
Nifty’s recovery above 25,500 is technically significant. The index is currently trading between strong support and immediate resistance zones.
Support Levels:
- 25,400 – Immediate support
- 25,200 – Strong positional support
Resistance Levels:
- 25,750 – Immediate hurdle
- 26,000 – Psychological resistance
RSI Analysis
Daily RSI is hovering around 58–60. This indicates that momentum has cooled from overbought levels and is now stabilizing. There is room for upward movement without entering extreme territory.
MACD Analysis
MACD is flattening but remains above the signal line. No confirmed bearish crossover has occurred, which keeps the broader uptrend intact.
Volume Analysis
The recent rebound has come with moderate but improving volume, suggesting that buyers are stepping in near support levels.
Unless Nifty breaks below 25,200 decisively, the structure favors gradual upside or range-bound movement.
Bank Nifty Outlook – Strength Persists
Bank Nifty closing at 61,172 reflects sustained buying in private and PSU banks.
Key Levels:
- Support: 60,800 – 60,500
- Resistance: 61,800 – 62,200
RSI remains near 60, and MACD is neutral to mildly positive. Volume trends suggest selective accumulation rather than distribution.
Banking continues to act as a stabilizer for the broader market.
Sectoral Focus – Power & Banking
Two key sectors are showing renewed strength:
Power Sector
Power generation stocks are breaking out after multi-week consolidation. Government infrastructure spending and rising demand expectations are supporting this theme.
Banking Sector
PSU and private banks are witnessing steady inflows, indicating institutional confidence.
Stock in Focus
⚡ NTPC Limited
Closing Price: 372.95
NTPC is showing a strong breakout pattern after multiple weeks of consolidation. The stock is trading near a resistance breakout zone, supported by volume expansion.
Technical Analysis:
- RSI near 65, indicating strong bullish momentum
- MACD positive with widening divergence
- Strong volume confirmation during breakout
If the breakout sustains, the stock may move toward the 430–450 zone in the medium term. Immediate support lies near 360.
The power sector theme and defensive positioning make NTPC an attractive candidate for positional investors.
🏦 Indian Bank
Buy Above: 947
Target: 985
Stop Loss: 925
Indian Bank is forming a bullish continuation pattern with higher lows.
Technical Signals:
- RSI around 62
- MACD positive crossover
- Consistent volume support
A breakout above 947 may trigger momentum buying toward 980–985 levels.
🏦 Bandhan Bank
Buy Above: 172
Target: 182
Stop Loss: 168
Bandhan Bank is attempting to recover from a consolidation base.
Indicators:
- RSI recovering above 55
- MACD showing early bullish signs
- Gradual volume improvement
If sustained above 172, a short-term move toward 180+ is possible.
Market Strategy for 23 February 2026
Intraday Approach
- Watch Nifty reaction near 25,750
- Buy strong stocks on confirmed breakout
- Avoid aggressive shorting above 25,400
Positional Strategy
- Focus on power and banking sectors
- Use trailing stop losses
Risk Management
- Maintain moderate exposure
- Monitor global cues
- Respect key support levels
Key Triggers Today
- Nifty movement toward 26,000
- Bank Nifty crossing 61,800
- Volume expansion in power stocks
- Global equity behavior during first half
FAQs
Is Nifty bullish again?
The index has stabilized above key support. The structure is neutral-to-bullish unless 25,200 breaks.
Why is NTPC attracting attention?
It has broken out after multi-week consolidation with strong volume support.
Are banking stocks still strong?
Yes, Bank Nifty remains structurally positive above 60,500.
What is the biggest risk?
Failure to sustain above 25,400 may trigger deeper consolidation.
Final Outlook
The Indian stock market is showing signs of stabilization after recent consolidation. Banking and power sectors are leading the recovery, while technical indicators support a gradual upward bias.
If Nifty sustains above 25,400, a move toward 26,000 cannot be ruled out in the coming sessions. However, disciplined trading and risk management remain essential.
Selective breakout stocks like NTPC and banking counters may offer opportunities in the current environment. Patience and precision will define the trading session ahead.
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Ranjit Sahoo
Founder & Chief Editor – CapitalKeeper.in
Ranjit Sahoo is the visionary behind CapitalKeeper.in, a leading platform for real-time market insights, technical analysis, and investment strategies. With a strong focus on Nifty, Bank Nifty, sector trends, and commodities, she delivers in-depth research that helps traders and investors make informed decisions.
Passionate about financial literacy, Ranjit blends technical precision with market storytelling, ensuring even complex concepts are accessible to readers of all levels. Her work covers pre-market analysis, intraday strategies, thematic investing, and long-term portfolio trends.
When he’s not decoding charts, Ranjit enjoys exploring coastal getaways and keeping an eye on emerging business themes.
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