Exclusive Technical Analysis of the Market by Nagaraj Shetti
Senior Technical Research Analyst, HDFC Securities
🕗 Last Updated: 14 February 2026, 6.00 AM
🔔 Nifty Market Update – 16 February 2026
After showing weakness with range bound action on Thursday, Nifty slipped into a sharp decline on Friday and closed the day lower by 336 points. After opening on downside gap of 236 points, the market shifted into a range bound action with weak bias for better part of the session. Further weakness has triggered towards the end and Nifty finally closed at the lows. The opening downside gap remains unfilled.
A long negative candle was formed on the daily chart with minor upper shadow. Technically, this market action indicates reversal in the market on downside. The negative pattern like ‘Bearish Island Reversal’ was formed on the daily chart and initial downside target has been met at 25500 on Friday.
The emergence of selling pressure of Friday seems to have dampened the effort of bulls to make a comeback. The short-term negative chart pattern suggests more weaknesses in the coming sessions. A decisive slide below 25450 levels could pull Nifty down to 25200 levels (200day EMA) by next week. Immediate resistance is placed at 25600.
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Stock recommendations by Nagaraj Shetti
Stock Recommendations by Nagaraj Shetti (HDFC Securities)
Senior Technical Analyst Nagaraj Shetti has identified a select group of stocks showing strong chart setups and momentum for short-term traders.
According to him, the near-term market structure remains supportive for selective long positions, especially in scrips showing breakouts above key resistance levels and higher-high formations on the daily chart.
Shetti recommends traders focus on stocks with rising volumes and bullish crossover patterns on the short- and medium-term moving averages.
He advises maintaining strict stop-loss levels and booking partial profits near resistance bands.
These recommendations are part of his latest weekly outlook published in Chanakya Ni Pothi, providing guidance on potential outperformers for the coming sessions.
