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

Indian equities are likely to open on a muted note, with Gift Nifty at 22,807, down 17 points. Global markets remain cautious, with Asian equities largely subdued after a weak session on Wall Street. Elevated crude prices and US bond yields continue to weigh on overall sentiment, while investors are likely to focus on upcoming economic data and corporate developments through the week.

In the previous session on 28th September 2026, Nifty closed at 22,780.25, down 360 points (-1.56%), after opening lower at 23,064.90 and slipping to a low of 22,762.20. Persistent selling across banking, financials and other key sectors kept the index under pressure, while the close below 23,000 reinforced the prevailing weak technical structure. India VIX surged 12.15% to 13.6375, highlighting elevated volatility.

The short-term setup remains bearish following the breakdown below 23,000, with derivatives positioning also reflecting increased caution. Immediate support is placed at 22,650–22,700, while resistance is seen at 22,950–23,000.

In the previous session on 28th September 2026, Bank Nifty closed at 54,471.65, down 1,108.75 points (-1.99%), after opening lower and witnessing persistent selling throughout the session. Heavy weakness across private and PSU banks kept the index near its lower levels, while the strong-volume breakdown reinforced the weak short-term structure. Immediate support is placed at 54,000–54,200, while resistance is seen at 54,800–55,000.

FIIs remained net sellers for the third consecutive session, offloading equities worth over Rs 5,353 crore on 28th September 2026. Meanwhile, DIIs continued to provide domestic support, remaining net buyers with purchases of around Rs 5,189 crore during the session.

The market is likely to remain under pressure after the recent sharp breakdown, with both Nifty and Bank Nifty trading near key support areas. Persistent FII outflows continue to weigh on sentiment, although strong DII buying may provide some cushioning. Volatility is expected to remain elevated, making the reaction around immediate support zones important for the next directional move.

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