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Below the Quote on Pre-market comment 31th October 2025 by Amruta Shinde, Technical & Derivative Analyst, Choice Broking

The Indian equity markets are expected to open on a flat note today, as indicated by the GIFT Nifty, which was trading around the 26,030 mark in early trades, reflecting a marginal loss of 1 point. This points to a cautiously optimistic sentiment, even as mixed global cues and the absence of strong domestic triggers keep traders on alert. Investors are likely to closely monitor global market trends, crude oil price movements, and institutional flows for near-term direction.

The Nifty 50 opened lower in the previous session and drifted downward through the day, eventually closing below the 25,900 mark. The formation of a strong bearish candle on the daily chart indicates selling pressure and heightened volatility. Immediate support lies at 25,800 and 25,700, and a break below these levels could extend the decline further. On the upside, resistance is placed at 26,000 and 26,100; a decisive move above 26,100 could help the index regain bullish momentum.

The Bank Nifty also opened lower and traded sideways before slipping toward the 58,000 mark. A bearish candle with a long upper wick signals selling pressure at higher levels. Despite the intraday weakness, the index continues to trade above its key moving averages, keeping the broader uptrend intact. Key support levels are placed at 58,000–57,500, while resistance is seen between 58,300–58,500. A sustained move above this resistance zone could reignite bullish momentum in the near term.

On the institutional front, Foreign Institutional Investors (FIIs) extended their selling for the second consecutive session, offloading equities worth Rs.3,150 crore on October 30. Meanwhile, Domestic Institutional Investors (DIIs) continued their buying streak for the sixth consecutive session, purchasing equities worth Rs.2,577 crore on the same day.

Given the heightened volatility and mixed global cues, traders are advised to maintain a cautious “buy-on-dips” approach, particularly when using leverage. Booking partial profits during rallies and keeping tight trailing stop-losses will be key for effective risk management. Fresh long positions should be considered only if the Nifty sustains above the 26,100 mark. While the broader market undertone remains cautiously bullish, close monitoring of key technical levels and global developments will be crucial for gauging market direction in the sessions ahead

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