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Below the Quote on Morning market by Hemang Gor, Senior Research Analyst - Derivatives and Technical Research, Axis Direct

Plunging crude and strong FII accumulation propelled Indian equities to nine-month highs Wednesday, but a flat GIFT Nifty (25,245) signals a range-bound Thursday open. This follows Wednesday's sweeping rally, where relentless foreign institutional accumulation drove the NIFTY up 0.84% (210 pts) to a nine-month high of 25,255. Sentiment was turbocharged by Brent crude plunging below $90/bbl after the US President stated the Iran conflict was effectively over. This massive margin relief fuelled financials: the Nifty PSU Bank Index surged 2.94% and Nifty Bank added 1.76%, offsetting a 0.53% drop in IT. Globally, Wall Street shook off Tuesday's CPI selloff. Upbeat earnings from neocloud firm CoreWeave revived the AI trade and stabilized Nvidia, lifting the Nasdaq 1.60%, S&P 500 (SPX) 1.31%, and Dow Jones 0.49% despite a stronger dollar. Asia traded mixed today (Nikkei +0.60%, Kospi +0.80%, HSI -1.2%). Today's opening tick will test whether local buyers chase US tech momentum or turn defensive. The technical bias is positive-to-neutral. Dropping below 25,200 invites intraday profit-booking, leaving 25,000 as critical support to prevent deeper distribution. Resistance spans 25,400–25,500, then 25,600.

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