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Below the Quote on Pre-market comment for Monday April 5 by Hitesh Tailor, Technical Research Analyst at Choice Broking

Indian equity markets are expected to open on a gap-up to a positive note, tracking GIFT Nifty at 24,264, up by 117 points. The optimism is supported by stable global cues and improving sentiment across Asian markets, while investors remain watchful ahead of key domestic triggers and ongoing geopolitical developments. Despite the positive start, volatility may persist amid fluctuating crude oil prices and cautious undertone in global markets following the US Federal Reserve’s recent policy stance. Traders are likely to stay selective, focusing on stock-specific action and sectoral momentum.

In the previous session on 30th April 2026, Indian equity benchmarks ended on a negative note after opening gap-down and witnessing early selling pressure. The Nifty index later recovered in the second half, closing near its opening level and forming a Doji-like candlestick on the daily chart, indicating market indecision. From a technical perspective, immediate support is placed in the 23,850–23,900 zone, while resistance is seen in the 24,250–24,300 range. RSI hovers around the midpoint, suggesting neutral momentum, while rising volatility reflects a cautious undertone in the market.

In the previous session on 30th April 2026, Bank Nifty witnessed a negative close after opening gap-down and facing selling pressure in the first half. The index recovered in the latter half, closing near its opening level and forming a Doji-like candlestick pattern on the daily chart, indicating indecision and lack of clear direction. From a technical perspective, immediate support is placed in the 54,500–54,800 zone, while resistance is seen in the 55,800–57,000 range. RSI indicates slightly weakening momentum, suggesting a cautious undertone unless a decisive breakout is observed.

Foreign Institutional Investors (FIIs) extended their selling streak for the ninth consecutive session on April 30, offloading equities worth more than ?8,000 crore. In contrast, Domestic Institutional Investors (DIIs) maintained their buying momentum for the sixth straight session, investing ?3,487 crore in the equity market.

The market setup points towards a firm opening, supported by positive global cues, though intraday action may remain choppy and range-bound. Nifty is likely to oscillate within the 23,850–24,300 zone. Despite the broader trend holding positive, the current phase reflects consolidation, and a clear breakout above the resistance band is needed to extend the upmove, while any dip below support could lead to short-term weakness

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