TRADE SET-UP: The biggest trigger for the market right now is the India–US trade deal, with tariffs reduced from 25% to 18%. This has clearly shifted sentiment from Budget-related uncertainty to bullish expansion.

However, global headwinds remain. US markets are still dealing with AI fatigue and rising bond yields, which could limit runaway upside.

GIFT Nifty indicates a stable-to-mildly positive start.

OPTIONS DATA ANALYSIS

Based on option positioning and open interest data.

• The highest call writing is visible at the 26000 strike, where sellers are positioned aggressively.

• Put writers have shifted their base higher to 25500, creating a strong cushion for the market.

• Nifty PCR is around 0.90 (10 Feb 2026 expiry), indicating a sideways to mildly positive structure.

Until Nifty trades comfortably above 25850, some consolidation or profit booking cannot be ruled out.

Key intraday trading levels based on options positioning.

BANK NIFTY VIEW

Bank Nifty outperformed in the previous session.

• Strength remains intact above 60000

• A break below 59800 would be an early signal to exit long positions

OVERALL SENTIMENT:

Cautiously positive with a range-bound bias.

STRATEGY:

• Avoid FOMO buying at the open

• Let the market settle for the first 45 minutes

• If price sustains above Base 1 levels, the intraday trend remains positive despite US market weakness

DISCLAIMER: We are not a SEBI-registered Research Analyst or Investment Advisor. You are solely responsible for your trading decisions. Always perform your own due diligence or consult a certified financial planner before executing any trade.