Nifty Set for Gap-Up Opening After US Tariffs Cut to 15%

• GIFT Nifty surges 320 points to 25,886, signaling a significant gap-up opening for Indian equities on February 23.
• US Supreme Court invalidated Trump's broad 'reciprocal' tariffs, leading to a new 15% global tariff under Section 122 of the Trade Act of 1974.
• Analysts view the 15% tariff as less severe, offering scope for continued negotiations and limiting India's tariff exposure to 10% for now.
• Policy uncertainty remains due to Trump's remarks on alternative legal routes for tariffs, potentially causing volatility.
• Nifty rebounded from 25,400-25,500, with immediate support at 25,500-25,600 and resistance at 25,700-25,900.