The US beginning its attack on Iran over the weekend can drag the benchmark indices further lower. This could keep the sentiment negative for some time.
However, on the charts, long-term supports are there which have the potential to limit the downside from here. So, the fall from here is going to give us a very good buying opportunity.
FPIs buy
The Foreign Portfolio Investors (FPIs) were net buyers of Indian equities last week. The equity segment saw a net inflow of about $628 million last week. It is important to note that, for the month of February, there has been a net inflow of about $2.5 billion. This has snapped the three-month selling spree. Further buying from the FPIs in the coming months could aid the Sensex and Nifty to climb higher.
Video Credit: Businessline
Nifty 50 (25,178.65)
Short-term view: Immediate support is at 25,100. Below that, 24,800-24,700 is the next key support for the week. A bounce from any of these supports can give some relief. Such a bounce can take the Nifty higher to 25,500 or 25,700.
The 25,500-25,700 region is an important resistance zone. Nifty has to breach 25,700 now to bring back the chance of rise a to 26,000 and 26,400 again.
In case the index declines below 24,700, a steeper fall to 24,000 is possible.
Medium-term view: We reiterate that 24,000-23,500 is a strong support zone. As such if the Nifty falls to 24,000 from here, that will be a very good long-term buying opportunity. A bounce from this support zone will keep alive the broader bullish view. We continue to retain our view of the Nifty targeting 27,500-28,000 in the medium term and 30,000-31,000 in the long term.
This bullish view will go wrong only if the Nifty declines below 23,500.
Nifty Bank (60,529)
Short-term view: The index is stuck inside a range over the last three weeks. Supports are at 59,700 and 59,100 which can be tested this week. We expect the Nifty Bank index to bounce back from either of these supports and go up to 61,500 again.
It will also keep the upside open to see 62,000 and even 63,000 in the short term.
The region around 58,800 is a crucial support. The Nifty Bank index has to break this support to come under pressure. If it does, then 57,000 and even lower levels can be seen in the short term.
Medium-term view: The consolidation within the broader uptrend continues. We retain our bullish view. Nifty Bank index can target 64,000-65,000 in the medium term and 68,000-69,000 in the long term.
Support is at 56,000 and then in the 54,000-53,500 region. The index has to decline below 53,500 to turn bearish.
Sensex (81,287.19)
Short-term view: Immediate support is at 82,140. Below that, 80,500 and 80,100 are the next key supports for the week. A fall below 80,100 looks unlikely. As such, we can expect the Sensex to bounce back and go up to 82,000 and 82,500 again. A decisive break above 82,500 will then clear the way for a further rise to 85,000 and higher in the short term.
The region around 79,500 is a crucial support. Sensex will come under pressure for more fall only if it breaks this support. That looks less likely.
Medium-term view: As mentioned, 79,500 is a crucial support. As long as the Sensex stays above this support, the broader uptrend will remain intact. So, for now, we retain our bullish view of the Sensex rising to 89,000-90,000 in the medium term and 98,000-99,000 in the long term.
This bullish view will go wrong if Sensex declines below 79,500. If that happens, 77,000-76,000 can be seen on the downside.
Nifty Midcap 150 (21,847.35)
The index has been stable and range-bound over the last three weeks. Nothing much has changed on the charts, and so, the view remains the same.
The region between 21,600 and 21,500 is a good support which can limit the downside for now. We expect the Nifty Midcap 150 index to breach the resistance at 22,200 eventually. Such a break can take it up to 22,800.
A further break above 22,800 will then clear the way for a rally to 26,000-26,500 in the medium term and 28,000-28,500 in the long term.
The index has to break below 21,500 to come under pressure for a fall to 21,000 and lower.
From a long-term perspective, 20,000 is strong support. The index has to fall below this support to negate the rally to 26,000 and higher mentioned above.
Nifty Smallcap 250 (15,881.05)
The index has been struggling to see fresh buyers over the last few weeks. That keeps it vulnerable to see a fall to 15,500 or 15,200 in the short term.
Resistance is around 16,300. The index has to surpass this hurdle to go up to 16,600-16,700. Such a rise will keep the doors open to see 17,500 in the short term.
From a long-term perspective, 15,000 will be a very strong support. As long as the index stays above this support, the outlook will remain bullish. Nifty Smallcap 250 index can target 22,500-23,000 in the long term. A break above 18,300 can trigger this rally.
We reiterate that this can be a good time to enter the small-cap segment for the long term. Our bullish view will go wrong only if the index breaks below 15,000.
Published on February 28, 2026