IGI Logo

Below the Quote on Pre-market comment 09th October 2025 by Amruta Shinde, Technical & Derivative Analyst, Choice Broking

Indian benchmark indices are expected to open on a flat note today, with the GIFT Nifty indicating a marginal uptick of 24 points in the Nifty 50. Market sentiment remains cautiously optimistic, though persistent volatility and mixed global cues continue to weigh on investor confidence.

The Nifty 50 opened flat and traded sideways throughout the previous session, eventually closing in the red with a mild bearish candle. From a technical standpoint, a sustained move above 25,150 could open the door for an upside toward 25,200–25,250. On the downside, immediate support is placed around 24,950–24,900, which may serve as potential accumulation zones for long positions. Overall, the index is expected to remain range-bound between 24,900 and 25,200 in the near term.

The Bank Nifty mirrored the broader market trend, closing lower and displaying a sideways-to-bearish bias. Support is seen around 55,800–55,700, and a decisive break below this range could accelerate weakness toward lower levels. On the upside, resistance is positioned near 56,200–56,300, and only a breakout above this zone may trigger a meaningful rally. For now, the index is likely to consolidate within the 55,700–56,300 range.

On the institutional front, Foreign Institutional Investors (FIIs) extended their buying streak for the second consecutive session on October 8, purchasing equities worth ?81 crore, while Domestic Institutional Investors (DIIs) bought equities worth ?329 crore on the same day.

Given the prevailing uncertainty and heightened volatility, traders are advised to maintain a cautious “buy-on-dips” approach, particularly in leveraged positions. Booking partial profits on rallies and using tight trailing stop-losses remain prudent. Fresh long positions should be considered only if the Nifty sustains above the 25,250 mark. While the broader trend remains cautiously bullish, close monitoring of key breakout levels and global market developments will be essential in the sessions ahead.

Above views are of the author and not of the website kindly read disclaimer