Quote on Pre Market Comment 21st september 2026 by Hitesh Tailor Technical Research Analyst at Choice Broking
Below the Quote on Pre Market Comment Monday September 21 by Hitesh Tailor Technical Research Analyst at Choice Broking
Indian equities are likely to open on a cautious note, with Gift Nifty trading around 23,337, down 24 points. Global markets remain mixed, with Asian equities gaining on technology strength while easing crude prices are offering some relief.
In the previous session on 18th September 2026, Nifty closed at 23,346.40, up 75.80 points (+0.33%), after finding buying support near 23,286.60 and recovering to an intraday high of 23,389.15. The index formed a Doji-like candle, indicating indecision, with buying support at lower levels but selling pressure emerging near the highs.
The near-term setup remains range-bound, with PCR at 0.98 indicating a balanced options setup and India VIX easing to 11.3850. Immediate support is placed at 23,100–23,200, while resistance is seen at 23,400–23,500. Sustained buying above resistance could improve momentum, whereas failure to hold support may keep the recovery vulnerable.
In the previous session on 18th September 2026, Bank Nifty closed at 56,358.70, up 302.95 points (+0.54%), after recovering strongly from an intraday low of 56,073.55. The index formed a bullish candle, supported by buying across PSU and private banks. Immediate support is placed at 55,800–56,000, while resistance is seen at 56,800–57,000. Sustained strength above resistance could extend the recovery, while a break below support may revive consolidation.
Foreign institutional investors (FIIs) broke their seven-session selling streak on 18th September 2026, turning net buyers with equity purchases of Rs 599 crore. Meanwhile, domestic institutional investors (DIIs) continued to provide support, recording purchases of more than Rs 1,000 crore during the session.
The market may retain a cautious-to-neutral tone, with recent recovery attempts facing supply near key resistance zones. Improved FII participation offers some support, while easing volatility could help stabilize sentiment. However, Nifty and Bank Nifty need sustained follow-through above their immediate hurdles to establish stronger upward momentum; otherwise, consolidation with intermittent profit-taking may continue.
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