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Trade Setup for February 23: Nifty grapples with trade uncertainties, geopolitical risks as key levels lie aheadAnalysts said immediate support is pegged at the recent swing low of 25,372. A breach of this level could drag the index towards the 200-day EMA at 25,237, while 25,700 is likely to act as the near-term resistance.By Meghna Sen  February 22, 2026, 4:37:39 PM IST (Published)2 Min ReadThe Nifty 50 index staged a modest rebound on Friday, recovering from Thursday's sharp 365-point sell-off triggered by escalating US-Iran geopolitical tensions.

The index slipped in the first 15 minutes of trade but reversed sharply thereafter, climbing nearly 300 points over the next three hours on fresh buying.

However, momentum fizzled out after 12:30 pm, with the index confined to a choppy 130-point range for the remainder of the session. It eventually settled 116 points higher at 25,571.

Hindalco, NTPC and Larsen & Toubro were among the top gainers, while Eternal, Infosys and Tech Mahindra ended as the biggest laggards.

On the sectoral front, all indices closed in the green except Nifty IT and Media. PSU Banks, Metal and FMCG stocks posted the strongest gains.

The Nifty Midcap 100 advanced 0.48%, while the Smallcap 100 bucked the broader trend to slip 0.11%.

Globally, rising tensions between the US and Iran kept geopolitical risks elevated. Brent crude climbed to $71.8 per barrel, extending its three-day rally to 6.6%, weighing on sentiment and triggering risk-off undertones across markets.

This remains a key monitorable in the near term and could dictate market direction.

Meanwhile, US headline CPI for January 2026 eased to 2.4% year-on-year, coming in better than expectations and signalling continued moderation in inflationary pressures.

Markets are likely to consolidate next week, tracking geopolitical developments, progress on the India-US trade deal, India's Q3 GDP data, US initial jobless claims and the conclusion of the AI summit.

Nagaraj Shetti of HDFC Securities said the Nifty is currently positioned near a key support zone around 25,400, based on the role-reversal principle.

A sustained move above the 25,650-25,700 hurdle could trigger another leg of relief rally.

Sudeep Shah of SBI Securities said the 25,400-25,350 zone is expected to act as immediate support.

A decisive break below 25,350 may open the door for further downside towards 25,150, followed by the 25,000 mark in the near term. On the upside, the 25,750-25,800 zone is likely to act as immediate resistance.

Rupak De of LKP Securities said volatility may remain elevated over the next few sessions, with the index likely to oscillate in the 25,300-25,800 range. Immediate support is placed at 25,500, while resistance is seen at 25,650.

According to Nandish Shah of HDFC Securities, immediate support is pegged at the recent swing low of 25,372.

A breach of this level could drag the index towards the 200-day EMA at 25,237, while 25,700 remains the near-term resistance.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.TagsBSE SensexNifty 50share market todayTrade setup