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Below the Quote on Pre-Market Comment 09th January 2026 by Aakash Shah, Technical Research Analyst, Choice Broking Ltd

Indian equities are expected to open on a cautious note on January 9, with GIFT Nifty indicating a start around 26,001, marginally higher by nearly 15 points. While near-term sentiment remains guarded, underlying domestic technical indicators continue to offer some support. That said, the broader market direction is likely to remain influenced by global equity cues, movements in crude oil prices, and trends in institutional fund flows.

The Nifty 50 opened weak in the previous session and remained under pressure for most of the day, eventually closing below the psychological 26,000 mark. This price action reflects a cautious market tone and the absence of fresh bullish triggers. Selling pressure was evident across sectors, with auto, metal, and PSU banking stocks emerging as key laggards, although select stocks managed modest gains amid heightened volatility. Key support for the index is now placed in the 25,700–25,750 zone. On the upside, sustaining above the 26,000–26,050 band is crucial to prevent further deterioration, while the 26,150–26,200 zone continues to act as an immediate resistance area.

The Bank Nifty mirrored the broader market weakness, trading lower amid selling pressure in heavyweight banking stocks. The index now finds key support in the 59,300–59,400 zone, which will be critical in cushioning any further downside. On the upside, the 59,900–60,000 zone remains an important resistance band, and a decisive reclaim of this level would be required for upside momentum to stabilize.

On January 8, 2026, Foreign Institutional Investors remained net sellers in the equity market, offloading shares worth approximately Rs 3,367 crore, marking the fourth consecutive session of selling. In contrast, Domestic Institutional Investors continued to provide strong support, purchasing equities worth around Rs 3,701 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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