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Below the Quote on Pre Market Comment Thursday September 24 by Hitesh Tailor  Technical Research Analyst at Choice Broking

Indian equities are likely to face a sharp gap-down opening, with Gift Nifty around 23,267, down 178 points. Global sentiment has weakened as Wall Street ended lower amid rising U.S. Treasury yields and an increasing Dollar Index, adding pressure on emerging-market sentiment. Renewed uncertainty around the US-Iran conflict has further increased risk aversion, while markets will also closely watch the Trump–Xi meeting scheduled for today for trade and technology-related developments.

In the previous session on 23rd September 2026, Nifty closed at 23,446.80, gaining 117.80 points (+0.50%), after opening mildly higher and sustaining buying interest through most of the session. The index touched 23,466.90 before consolidating, while support near the 50% retracement level of 23,400 helped the index hold higher levels.

The short-term structure remains constructive, supported by higher-high closings, improving momentum indicators and sustained holding above 23,300. Immediate support is placed at 23,000–23,150, while resistance is seen at 23,450–23,500.

In the previous session on 23rd September 2026, Bank Nifty closed at 56,548.90, gaining 333 points (+0.60%), after holding the opening level and staging a strong intraday recovery. The index maintained a higher-high, higher-low structure, while continued holding above 56,000 and supportive momentum indicators reflected underlying strength. Immediate support is placed at 56,000–56,200, while resistance is seen at 56,700–57,000.

On 23rd September 2026, both FIIs and DIIs remained net buyers, with FIIs purchasing equities worth Rs 1,617 crore and DIIs buying Rs 2,341 crore during the session, indicating supportive institutional participation.

The near-term tone is likely to turn defensive after the sharp deterioration in global cues and the weak opening indication. Recent buying from both FIIs and DIIs offers some domestic support, while Nifty and Bank Nifty had shown improving structures in the previous session. However, the gap-down setup could test these gains, making the ability to hold key support zones crucial for maintaining market stability.

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