Quote on Pre-market comment 08th September 2025 by Amruta Shinde, Technical & Derivative Analyst, Choice Broking
Below the Quote on Pre-market comment 08th September 2025 by Amruta Shinde, Technical & Derivative Analyst, Choice Broking
Indian benchmark indices are likely to open on a positive note today, with the GIFT Nifty indicating an uptick of nearly 80 points in the Nifty 50. Market sentiment remains cautiously optimistic, though persistent volatility and mixed global cues continue to weigh on investor confidence.
On the technical front, Nifty showed resilience after last week’s sharp mid-week sell-off, rebounding strongly from the 100-day EMA near 24,633. The index formed a hammer candlestick pattern on the daily chart, indicating buying interest at lower levels. Key support is placed around 24,600–24,280, where the 100-day and 200-day EMAs converge. A decisive close above the 25,000 mark will be critical to confirm the next leg of upside, potentially opening the path toward the 25,500–25,675 supply zone.
Bank Nifty ended flat on Friday at 54,114.55, recovering nearly 390 points from the day’s low and sustaining above the 54,000 level. On the weekly chart, the index traded in a sideways range of 54,550–53,550, with support aligning near the 200-day EMA. For the week, Bank Nifty gained 458 points and closed in the green, reflecting resilience at crucial support levels. A breakdown below 53,550 may trigger further correction toward 53,000 and 52,500, while a breakout above 54,550 could pave the way for fresh buying with upside targets of 55,000 and 55,300.
On the flows front, Foreign Institutional Investors (FIIs) sold equities worth Rs.1,304 crore on September 5, while Domestic Institutional Investors (DIIs) purchased equities worth Rs.1,821 crore on the same day.
Given the backdrop of heightened volatility and mixed global signals, traders are advised to follow a cautious “buy-on-dips” strategy. Booking partial profits on rallies and maintaining tight trailing stop-losses will help manage risk. Fresh long positions should be considered only if Nifty sustains above the 25,000 level. While the broader trend remains cautiously bullish, close monitoring of key technical levels and global cues will be essential for navigating the current market environment.
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