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Below the Quote on Pre-Market Comment by Mandar Bhojane, Technical Analyst, Choice Broking Ltd

The Indian benchmark indices, Sensex and Nifty 50, are expected to open flat on October 15, tracking cues from GIFT Nifty, which is trading around 25,233.50 with a loss of 30 points.

Both Nifty and Bank Nifty are showing signs of a bullish reversal from key support levels, particularly their 50-day exponential moving average (EMA). A higher low pattern on the daily chart indicates the potential for a higher high formation, reflecting strengthening bullish sentiment. If Nifty sustains above 25,500, it could extend its rally towards the 26,000–26,200 range. However, if it struggles to stay above 25,000, immediate support levels at 24,900 and 24,750 may present attractive buying opportunities for traders.

Bank Nifty is also indicating a bullish reversal, having taken support from its 100-day EMA. A break above the 51,000 level could push the index towards 51,600 and 51,200. On the other hand, 52,800 and 53,000 serve as immediate resistance levels.

Foreign institutional investors (FIIs) continued their selling spree on October 14, offloading equities worth Rs.3,731 crore, while domestic institutional investors (DIIs) purchased equities worth Rs.2,278.09 crore on the same day.

The market is expected to remain volatile, and traders are advised to hold their positions with a trailing stop-loss. Any dip in the market should be viewed as a buying opportunity, as the overall trend remains bullish.

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