Buy or sell stocks, Feb. 17 -- The Indian equity market closed with solid gains on Monday, February 16, supported by buying across most sectors in line with upbeat global cues. The Sensex on the Bombay Stock Exchange surged 650 points, or 0.79%, to finish at 83,277.15, while the Nifty 50 on the National Stock Exchange of India ended at 25,682.75, up 212 points, or 0.83%.

Sumeet Bagadia, Executive Director at Choice Broking, believes that the Nifty index saw high intraday volatility along with a sustained bullish move, highlighting strong buying interest and improving investor sentiment.

"On the daily chart, the formation of a bullish engulfing pattern signals a possible upside reversal and strengthening bullish momentum, supporting the ...