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Below the Quote on Morning Outlook 28th September 2026 from Hitesh Tailor, Technical Research Analyst at Choice Broking Private Limited

"Indian equities are likely to open on a weak note, with Gift Nifty at 23,111, down 77 points. Asian markets are trading cautiously as renewed uncertainty over US-Iran discussions has pushed Brent crude back above $106, while elevated US Treasury yields continue to keep risk appetite subdued. With the week also bringing key global economic data, oil prices and geopolitical developments are likely to remain important market triggers

In the previous session on 25th September 2026, Nifty closed at 23,140.50, up 77.40 points (+0.34%), after trading in a narrow range between 23,020.95 and 23,162.70. The index formed a modestly positive candle, indicating some buying interest at lower levels, while RSI improved to 34.42 and India VIX eased to 12.16, reflecting relatively softer volatility.

The near-term structure remains sideways to bearish, with immediate support placed at 22,900–23,000 and resistance at 23,250–23,300. The index is likely to remain sensitive to price action around these levels, particularly after the recent weakness.

In the previous session on 25th September 2026, Bank Nifty closed at 55,580.40, gaining 141.90 points (+0.26%), after moving within a narrow range of 55,373.75–55,762.60. The index remained range-bound, reflecting indecision amid the absence of strong directional participation. Immediate support is placed at 55,000–55,200, while resistance is seen at 55,800–56,000.

FIIs continued their selling trend for the second consecutive session, offloading equities worth Rs 3,694 crore on 25th September 2026. Meanwhile, DIIs remained supportive, purchasing equities worth around Rs 2,838 crore during the session.

The near-term market tone remains cautious, with the weak Gift Nifty indicating pressure at the start of the week. Persistent FII selling and elevated crude prices could keep sentiment subdued, while domestic institutional buying may offer some cushion. Nifty and Bank Nifty are likely to remain volatile, with traders closely watching the immediate support zones for signs of stability."

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