Weekly market wrap by Amol Athawale
Amol Athawale is VP-Technical Research, Kotak Securities
🕗 Last Update: 6 February 2026, 8.00 AM
For the week commencing on February 09, 2026
In the last week, the benchmark indices witnessed a sharp bounce back. The Nifty ended 3.40 percent higher, while the Sensex was up over 2,850 points. Among sectors, the Capital Market and Reality indices outperformed. The Capital Market index was up by 7.45 percent, and the Reality index rallied by 7.70 percent, whereas the IT index lost the most, shedding over 7 percent.
During the week, the market took support near the 200-day SMA (Simple Moving Average) and bounced back sharply. However, it also registered profit booking at higher levels. Technically, on weekly charts, it has formed a bullish candle and is currently trading comfortably above the 20-day SMA, which is largely positive.
We are of the view that the market has completed one leg of correction, and for short-term traders, 25,500/83,000 and 25,350/82,500 would act as crucial support zones. If the market succeeds in trading above these levels, it could bounce back to 25,800/83,800. A successful breakout of 25,800/83,800 could push the market up to 26,000-26,050/84,500-84,700. On the flip side, a decline below 25,350/82,500 would make the uptrend vulnerable.
For Bank Nifty, the 50 and 20-day SMAs or 59,500 would be key support zones. Above these levels, it could retest 60,500 and 61,000. On the flip side, below 59,500, sentiment could change.
- Market Analysis by Nagaraj Shetti
- Stock Market today by Vaishali Parekh
- Analysis by Kotak Securities
- Market Analysis by HDFC Securities
- Technical Analysis by Kotak Securities
- Technical Analysis by Samco Securities
Amol Athawale is the Vice President – Technical Research at Kotak Securities Ltd., known for his deep expertise in technical chart analysis and derivatives strategy.
He has over 18 years of experience in equity markets, specializing in identifying short-term trading opportunities using trend and momentum indicators.
His market commentaries and trading insights are widely followed by investors and media houses for their accuracy and clarity.
Amol is a regular contributor to financial publications and TV channels, offering actionable views on Nifty, Bank Nifty, and sectoral trends.
He focuses on support–resistance mapping, candlestick formations, and positional setups for traders and short-term investors.
His balanced approach — combining technical precision with market psychology — makes him one of the most respected voices in Indian market analysis.
