Stock Market Outlook Today: Sensex, Nifty Likely to Trade Cautiously Positive; Buy-on-Dips Strategy in Focus

Indian equity markets are expected to open the week of Monday, February 9, 2026, on a cautious but constructive note, as investors weigh domestic technical signals against global uncertainties, particularly in the technology space. Benchmark indices ended the previous session marginally higher after a volatile day of trade, setting the tone for Monday's trading session.

Stock Market Outlook Today, 9 February 2026: Nifty, Sensex Prediction Today

On Friday, the Nifty 50 closed at 25,693, up 51 points or 0.2 percent, recovering from early losses as selective buying emerged in the second half of the session. Market participants showed interest in defensive and consumption-led sectors, while broader market sentiment remained subdued.

According to Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services, the rebound was driven by sector-specific buying after recent corrections. "Gains were led by select FMCG, oil and gas and private banking stocks, which saw renewed interest following recent corrections," Khemka said.

He added that the broader markets underperformed, with the Nifty Midcap 100 ending flat and the Smallcap 100 declining 0.3 percent, indicating cautious participation from investors.

Stocks in Focus Today

Sectorally, the FMCG index outperformed, rising 2.2 percent, supported by heavyweights such as ITC and Hindustan Unilever, while the Consumer Durables index gained 1 percent, helping limit downside in the benchmarks. In contrast, IT stocks remained under pressure, extending recent losses. The IT index has fallen nearly 9 percent over the last three sessions, amid concerns around the fast pace of artificial intelligence developments and weakness in global technology stocks following the launch of a new legal AI tool by US-based firm Anthropic.

Nifty Prediction Today for February 9, 2026

Technical analysts remain moderately positive on the Nifty's near-term trend, advising investors to use declines as buying opportunities. Bajaj Broking Research noted that the index has formed a bullish pattern on daily charts.

"The index formed a bullish candle with a long lower shadow, signalling buying demand at lower levels around the 20-day EMA," the brokerage said. It added that 25400-25500 remains an important immediate support zone, representing a confluence of the current week's breakout area and the 20-day exponential moving average.

As long as the Nifty holds above this support, the overall bias is expected to stay positive. "Holding above the support area will open upside towards 25,850 and 26,100 levels in the coming weeks," Bajaj Broking said.

However, analysts cautioned that volatility could remain elevated due to uncertain global cues. A stronger support zone is placed around 25,000-25,200, which coincides with the 200-day EMA and key retracement levels.

Bank Nifty Outlook for 9 February 2026

The outlook for Bank Nifty also remains constructive, supported by technical indicators and buying interest at lower levels. Bajaj Broking highlighted that the index formed a bullish hammer-like candle, indicating demand near key moving averages.

"Bank Nifty has immediate support at 59,500-59,200 levels, which is the confluence of the 20- and 50-day EMAs," the brokerage said. Holding above this zone could keep the upward bias intact and pave the way for a move towards 60,700 and 61,200 in the coming weeks.

However, analysts flagged continued volatility amid global uncertainty. Key short-term support is seen in the 58,500-58,000 range, aligned with the 100-day EMA and a recent bullish gap area.

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