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Below the Quote on Pre Market Comment 06th October 2026 by Hitesh Tailor  Technical Research Analyst at Choice Broking

Indian equities are likely to open on a positive note, with Gift Nifty at 22,651, up 75 points. Global cues are supportive, with Asian markets trading higher and Wall Street ending firmly positive, led by technology stocks, with the Nasdaq marking a record close. Softer US jobs data has also reduced expectations of an immediate Fed rate hike, offering some relief to global risk sentiment.

In the previous session on 5th October 2026, Nifty closed at 22,555.75, up 133.80 points (+0.60%), after opening with a sharp gap-up and touching 22,621.80. However, profit booking erased most of the early gains, with the index slipping to 22,397.10 before recovering. The doji-like candle reflected indecision, while RSI at 28.15 continued to indicate weak momentum.

The near-term structure remains cautious, with buyers defending lower levels but supply persisting near the higher zone. Immediate support is placed at 22,400–22,450, while resistance is seen at 22,700–22,750.

In the previous session on 5th October 2026, Bank Nifty closed at 54,714.10, up 263.35 points (+0.48%), after touching a high of 55,192.65 before profit booking dragged it to 54,370.60. The index recovered sharply from the lower levels and formed a doji-like candle, indicating indecision with buying interest emerging on declines. Immediate support is placed at 54,300–54,500, while resistance is seen at 55,200–55,500.

On 5th October 2026, FIIs remained net sellers in the Indian equity market, recording a net outflow of Rs 4,699 crore, while DIIs provided strong support with net purchases of Rs 5,181 crore.

The near-term tone is cautiously constructive, supported by a firm opening indication and improved global cues. However, the broader setup remains tentative after the recent decline, with momentum yet to strengthen decisively. A sustained recovery in the opening hours, supported by broader participation, would be important to gauge whether the bounce can extend.

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