Quote on Pre-market comment 02nd Sept 2025 by Mandar Bhojane, Senior Technical & Derivative Analyst, Choice Broking
Below the Quote on Pre-market comment 02nd Sept 2025 by Mandar Bhojane, Senior Technical & Derivative Analyst, Choice Broking
Indian benchmark indices are expected to open on a positive note today, as the GIFT Nifty indicates a marginal uptick of around 20 points for the Nifty 50. Market sentiment remains cautiously optimistic, coming after a volatile yet constructive close in the previous session.
On the daily chart, Nifty formed a Morning Star candlestick pattern, signaling a potential reversal and renewed strength. The index is currently trading above its long-term EMA while approaching its short-term and medium-term EMAs, reflecting improving trend alignment. On the downside, immediate support is placed at 24,400, followed by 24,000. A break below these levels could trigger extended selling pressure. On the upside, resistance is seen at 24,700, followed by the 24,800–25,000 zone. A decisive move above this zone may open up fresh buying opportunities.
Bank Nifty also exhibited strength by forming a Morning Star pattern on the daily chart, taking support near its 200 EMA. The index managed to close strongly above the 54,000 mark, indicating a potential bullish setup. If the price sustains above 54,400, it has the potential to move towards 55,000 and 56,000 in the coming days. On the flip side, immediate support lies near 53,575, where the 200 EMA is placed. A breakdown below this level could invite further downside pressure.
On the institutional front, FIIs were net sellers of Rs.1,429.71 crore, while DIIs were strong net buyers of Rs.4,344.93 crore in the previous session. This contrasting activity highlights cautiousness among foreign investors but continued confidence from domestic institutions.
Overall, the market is showing signs of a bullish reversal, but confirmation is still awaited. Until then, traders are advised to adopt a buy-on-dips strategy in quality names and focus on stock-specific opportunities for better risk-adjusted returns.
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