Quote on Pre Market Comment 8th september 2026 by Hitesh Tailor Technical Research Analyst at Choice Broking
Below the Quote on Pre Market Comment 8th June 2026 by Hitesh Tailor Technical Research Analyst at Choice Broking
Gift Nifty is trading around 23,781, down 45 points, signalling a weak start for Indian equities. Asian markets remain uneven, while investors continue to assess escalating Middle East tensions and their impact on energy supplies. Brent crude is hovering near $95, keeping pressure on risk sentiment and raising concerns over inflation and growth prospects for oil-importing economies such as India.
In the previous session on 7th September 2026, Nifty 50 remained under selling pressure and settled at 23,779.15, down 118.55 points (-0.50%). The index opened mildly lower and failed to sustain the initial recovery, slipping to an intraday low of 23,737.90 before closing slightly off the day’s low. The weak price action, coupled with subdued RSI at 34.72, continues to reflect fragile near-term momentum.
Technically, Nifty is trading below its key moving averages, keeping the broader setup under pressure. Immediate support is placed at 23,650–23,700, while resistance is seen at 23,950–24,000. Holding the support zone could encourage a technical rebound, whereas a sustained break below 23,650 may accelerate the downside. Overall, the near-term bias remains cautious to bearish.
In the previous session on 7th September 2026, Bank Nifty faced sustained selling pressure and closed at 57,088.30, down 281.35 points (-0.49%). After an initial recovery attempt, the index slipped to an intraday low of 57,002.95, breaking below its 50-Day EMA and approaching rising trendline support. Immediate support is placed at 56,500–56,700, while resistance is seen at 57,400–57,500. A break below support could deepen weakness, while recovery above resistance may improve the near-term setup.
On 7th September 2026, Foreign Institutional Investors (FIIs) turned net buyers with an inflow of ?280 crore, while Domestic Institutional Investors (DIIs) also remained supportive, recording net buying of ?566 crore. The combined institutional inflow of ?846 crore provided some cushion to the market amid continued volatility.
Overall, the near-term setup remains under pressure, with elevated crude prices and renewed Middle East tensions keeping risk appetite restrained. Nifty could remain volatile around key support levels, while any recovery is likely to face selling at higher levels. Traders may therefore prefer a wait-and-watch approach until stronger buying emerges.
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