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Below the Quote on Pre Market Comment Tuesday September 30 by Hitesh Tailor  Technical Research Analyst at Choice Broking

Indian equities are likely to open on a largely flat note, with Gift Nifty at 22,825, down 5 points. Global cues remain mixed, with Asian markets showing a positive bias despite a mildly weaker Wall Street session. Investors are likely to remain focused on upcoming US economic data and global market trends for further direction, while domestic markets may continue to see cautious trading after the recent sharp decline.

In the previous session on 29th September 2026, Nifty closed at 22,716.20, down 64 points (-0.28%), after falling to 22,569.65 before recovering from the weekly 200-SMA support near 22,600. The index formed a hammer candle, indicating buying interest at lower levels, while strength in select heavyweight stocks helped limit the decline.

The near-term structure has improved towards sideways to mildly bullish following the reversal from 22,600. Immediate support is placed at 22,650–22,700, while resistance is seen at 22,950–23,000.

In the previous session on 29th September 2026, Bank Nifty closed at 54,260, down 211.70 points (-0.39%), after slipping to 53,785.70 before staging a sharp recovery from the key weekly support near 53,843. The index formed a reversal candle, indicating buying interest at lower levels despite continued weakness across select banking stocks. Immediate support is placed at 53,800–54,000, while resistance is seen at 54,700–55,000.

FIIs extended their selling streak to the fourth consecutive session, offloading equities worth nearly ?10,000 crore on 29^th September 2026. Meanwhile, DIIs continued to provide support, purchasing equities worth nearly ?7,000 crore during the session.

The market may attempt to stabilise after the recent decline, supported by buying emerging around key technical levels in both indices. However, persistent FII selling remains a concern and could restrict the recovery. With Nifty and Bank Nifty near important support zones, intraday price action is likely to remain range-bound with a cautious undertone.

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