Nifty Projection by Amol Athawale
Amol Athawale is VP-Technical Research, Kotak Securities
🕗 Last Update: 20 February 2026, 6.00 PM
For the week commencing on February 23, 2026
In the last week, the benchmark indices witnessed volatile activity. After a roller-coaster session, the Nifty ended 0.37 percent higher, while the Sensex was up by 190 points. Among sectors, the PSU Bank index outperformed, rallying 5.38 percent, whereas the Media, Reality, and IT indices lost the most, shedding over 2 percent. During the week, the market bounced back from lower levels; however, due to profit booking at higher levels, it again corrected sharply.
Technically, on daily and intraday charts, the market is still exhibiting a lower top formation and is currently trading below the 50 day SMA (Simple Moving Average), which is largely negative. We are of the view that as long as the market remains below the 50-day SMA or 25,700/83000, the weak sentiment is likely to persist on the downside, and the market could retest the level of 25,450/82500. Further downside may also continue, potentially dragging the index to the 200-day SMA or 25,350-25,300/82200-82000.
On the flip side, if the market moves above 25,700/83000, it could rise to the 25,900-26,000/83500-83800 range. For Bank Nifty, the higher bottom support is placed near 60,500. Above this level, the uptrend is likely to continue towards 61,700-62,000. Conversely, if it falls below 60,500, the chances of hitting 60,000 and 59,800 increase significantly.
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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.