Quote on Pre Market Comment 12th October 2026 by Deepesh Sarawagi Technical Research Analyst at Choice Broking
Below the Quote on Pre Market Comment 12th October 2026 by Deepesh Sarawagi Technical Research Analyst at Choice Broking
Indian equities are likely to open on a positive note, with Gift Nifty at 22,635, up 32 points. Asian markets are mixed, while US equities ended higher in the previous session and crude oil prices have eased amid hopes of additional Russian fuel supplies. Investors will also track the RBI’s latest measures to support the rupee, along with upcoming Indian and US inflation data and corporate earnings this week.
In the previous session on 9th October 2026, Nifty closed at 22,520.45, gaining 288.65 points (+1.30%), after recovering from an intraday low of 22,294.75 on the back of buying at lower levels. The index formed a strong bullish candle, while IT led the sectoral recovery alongside gains in Auto, Metal, Media, FMCG and Pharma. However, the broader technical structure remains weak below key moving averages.
RSI improved to 36.50 from its average of 31.48, indicating a recovery in momentum, while India VIX eased to 14.375. Immediate support is placed at 22,350–22,400, while resistance is seen at 22,650–22,700.
In the previous session on 9th October 2026, Bank Nifty closed at 55,256.65, gaining 741.60 points (+1.36%) after recovering sharply from an intraday low of 54,617.20. The index formed a strong bullish candle, supported by buying in Federal Bank and HDFC Bank, though it remains below key moving averages. RSI improved to 45.20, indicating strengthening momentum. Immediate support is placed at 54,500–54,800, while resistance is seen at 55,500–55,700.
On 9th October 2026, FIIs extended their selling streak to 11 consecutive sessions, recording net sales of Rs 3,568 crore. DIIs continued to support the market with net purchases of approximately Rs 4,743 crore, helping offset sustained foreign investor outflows.
Overall, the market setup appears mildly constructive at the open, supported by positive Gift Nifty cues and some relief from softer crude prices. However, the recovery may remain selective as persistent FII selling and upcoming inflation data could influence sentiment. Investors are likely to watch institutional activity and global developments before committing to a stronger directional view.
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