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US-India tariff deal to provide launchpad for challenging all time high levels

ICICIdirect Research 19 Feb 2026 DISCLAIMER

Index is undergoing healthy consolidation after witnessing 5% rally post announcement of US-India tariff deal which is providing launchpad to challenge All time high (26350) in coming weeks. Hence, dips should be used to accumulate beneficiaries of trade deal of India with US & European Union.
Sectorally, PSU Banks gained 12%, Consumer Durables, and Realty seen double digit gains while IT (-12%) underperformed amid fear of AI led disruption.
Market breadth has seen significant improvement, as the percentage of stocks trading above their 50 days SMA has bounced from bearish extremes of 15% to 48% levels, while percentage of stocks above 200-day SMA within the Nifty 500 universe jumped to 40%. Historically, such contractions in breadth have preceded durable market bottoms

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