Reality and Media indices lost the most, shedding nearly 2 percent.
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, 19 February 2026: Today, the benchmark indices corrected sharply. The Nifty ended 365 points lower, while the Sensex was down by 1236 points. Among sectors, all the major sectoral indices traded in the negative territory, but Reality and Media indices lost the most, shedding nearly 2 percent.
Technically, after a muted open, the market breached the 50-day SMA (Simple Moving Average) or 25,750/83800 level, and post-breakdown, selling pressure intensified. A strong reversal formation and a long bearish candle on the daily charts indicate further weakness from the current levels.
We are of the view that, as long as the market trades below the 20-day SMA (Simple Moving Average) or 25,500/82700, the weak sentiment is likely to continue. On the downside, the market could retest the level of 25,300/82000. Further downside may also continue, which could drag the index to 25,200/81700.
On the flip side, above 25,500/82700, the pullback move could extend to 25,600-25,650/83000-83200. The current market texture is volatile; hence, level-based trading would be the ideal strategy for day traders.
