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Below the Quote on Pre-Market Comment 07th January 2026 by Hitesh Tailor, Research Analyst, Choice Broking

Indian equities are expected to open on a negative note on January 7, with GIFT Nifty indicating a start around 26,205, nearly 80 points lower. While near-term sentiment remains cautious, underlying domestic technical indicators continue to provide some support. However, the broader market direction is likely to remain sensitive to global equity cues, fluctuations in crude oil prices, and trends in institutional fund flows.

The Nifty 50 opened the previous session on a weak note and attempted a recovery, scaling an intraday high of 26,273.95. The index, however, failed to sustain higher levels and slipped below the 26,150 mark due to profit booking. It later staged a modest rebound to close near 26,178, indicating bargain buying at lower levels and suggesting limited downside momentum at present. Immediate resistance for the index is placed in the 26,300–26,350 zone, while key support is seen at 26,000–26,050.

The Bank Nifty opened flat and moved higher to an intraday peak of 60,305 before witnessing selling pressure that dragged it below 60,100. Buying interest at lower levels supported a recovery, enabling the index to close at 60,118. This price action reflects a phase of consolidation with a positive undertone, despite intermittent intraday weakness. Immediate resistance is seen at 60,400–60,500, while the 59,800–59,900 zone remains a critical support area for near-term stability. On the daily chart, the RSI at 65.99 continues to trend higher, supporting a buy-on-dips approach with strict stop-loss discipline.

On January 6, 2026, Foreign Institutional Investors were net sellers in the equity market, offloading shares worth approximately Rs 107.6 crore, while Domestic Institutional Investors provided support by purchasing equities worth around Rs 1,749.4 crore.

Amid persistent global uncertainty, traders are advised to remain selective and disciplined, focusing on fundamentally strong stocks during market declines. Fresh long positions should be considered only after a confirmed and sustained breakout above the 26,400 level on the Nifty.

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