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Below the Quote on Pre-Market Comment 02nd January 2026 by Aakash Shah, Technical Research Analyst, Choice Broking Ltd

Indian equity markets are likely to open flat to mildly positive on Friday as traders return after the New Year break, with thin participation and mixed global cues keeping benchmarks in a narrow range before fresh triggers emerge. Early indications from SGX Nifty point to a muted start, while most global markets continue to trade cautiously amid lack of strong catalysts.

From a technical perspective, the Nifty 50 is expected to hold its recent consolidation zone with support around 26,000–26,050 and resistance near 26,250–26,300. A decisive breakout above resistance may pave the way to 26,400–26,500, while failure could keep the index range-bound.

The Bank Nifty similarly remains in a tight trading band with support near 59,400–59,500 and resistance at 59,900–60,000; a sustained move above 60,000 could trigger further upside momentum.

India VIX (Volatility Index) continues to hover at very low levels, reflecting muted fear and subdued volatility expectations in the market. According to recent data and market setups, the VIX has settled near -9.18, close to multi-session and record closing lows, indicating calm market conditions but also signalling limited intraday swings and complacency among participants. Such subdued volatility supports range-bound and buy-on-dips strategies, but traders should remain vigilant for abrupt moves if sentiment shifts.

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