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Below the Quote on Pre-Market Comment by Mandar Bhojane, Research Analyst, Choice Broking Ltd

Indian benchmark indices are likely to open on a positive note, backed by cues from the GIFT Nifty which signals a gain of around 50 points for Nifty 50. After a strong close in the previous session, the market sentiment is mildly optimistic, but geopolitical tensions and global tariff concerns may cap sharp upside moves in the early trade.

On the technical front, Nifty 50 continues to consolidate in a narrow range, forming a neutral candlestick pattern. On the hourly chart, a flag and pole pattern is developing, suggesting a possible bullish breakout. If Nifty sustains above 24,400, it can potentially head towards 24,500 and 24,700 levels. Immediate support levels are placed at 24,200, 24,100, and 24,000, offering dip-buying opportunities.

Bank Nifty remains in focus as it trades near crucial support of 55,000. A break above 55,600 can lead to a rally towards 55,900 and 56,100, while key supports lie at 54,800 and 54,500. Overall, the index is showing resilience and could outperform if momentum builds up.

From the institutional front, FIIs continued their buying streak for the 11th consecutive session, albeit with a modest net buy figure of ?50 crore. Meanwhile, DIIs showed stronger conviction, purchasing equities worth ?1,792 crore. The combined flow suggests a supportive undertone for Indian equities.

Given the prevailing uncertainty, it is advisable to adopt a "wait and watch" approach, especially for high-leverage trades. Traders can consider booking partial profits on rallies and trailing stop-losses tightly. If Nifty sustains above 24,400, fresh longs can be added gradually. Overall sentiment remains cautiously bullish with a close eye on news flow and breakout levels.

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