IGI Logo

Below the Quote on Pre-market comment 17th October 2025 by Amruta Shinde, Technical & Derivative Analyst, Choice Broking

The Indian equity markets are expected to open on a negative to flat note today, as indicated by the GIFT Nifty, which was trading around the 25,600 mark in early trades, reflecting a decrease of 56 points. This indicates a cautious market sentiment influenced by weak global cues and the absence of strong domestic triggers. Investors are likely to track global market trends, crude oil prices, and institutional flows for further direction.

The Nifty opened with a strong gap-up in the previous session and witnessed sustained buying throughout the day, reflecting firm bullish sentiment across sectors. The index managed to hold its gains and ended near the day’s high, closing above the 25,550 mark with a strong bullish candle. This positive momentum suggests continued strength in the near term. On the downside, immediate support is placed at 25,500, followed by 25,400, while on the upside, resistance is seen at 25,700 and 25,800 levels.

The Bank Nifty extended its winning streak, closing on a strong note above the 57,400 mark, near its record high levels. On the daily chart, the index formed a robust bullish candle, indicating sustained positive momentum. On the downside, immediate support is seen at 57,300, followed by 57,100, which are likely to act as key levels for traders. On the upside, resistance is placed at 57,600 and 57,800.

Foreign Institutional Investors (FIIs) extended their buying streak for the second consecutive day as they purchased equities worth Rs.997 crore on October 16, while Domestic Institutional Investors (DIIs) continued their strong support, buying equities worth over Rs.4,000 crore on the same day.

In the current environment of heightened volatility and mixed market cues, traders are advised to maintain a cautious “buy-on-dips” approach, particularly when using leverage. Booking partial profits during rallies and maintaining tight trailing stop-losses is recommended to manage risk effectively. Fresh long positions should be considered only if the Nifty sustains above the 25,750 mark. While the broader market undertone remains cautiously bullish, close monitoring of key technical levels and global developments will be crucial in the sessions ahead.

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