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Below the Quote on Pre-market comment for Monday February 9 by Aakash Shah, Technical Research Analyst, Choice Broking

Indian equity markets are expected to open on a positive note on February 9, with GIFT Nifty indicating an opening around 25,923, up nearly 187 points, suggesting a strong bullish start to the session.

In the previous session, the Nifty 50 began on a weak footing and remained under selling pressure during the first half, recording an intraday low of 25,491.90. However, a strong rebound in the latter half led to a recovery of nearly 210 points from the day’s low, and the index eventually closed at 25,693.70, reflecting robust buying interest at lower levels. From a technical perspective, near-term resistance is placed in the 25,850–25,900 zone, while immediate support is located at 25,550–25,600.

The Bank Nifty displayed relative strength despite broader market volatility, closing near 60,100 and holding firmly above the key psychological level of 60,000. The 59,600–59,700 range, supported by the 20-day EMA, continues to act as a strong demand zone. Immediate resistance is seen at 60,400–60,500, and a decisive breakout above this band could propel the index toward the 60,500–61,000 range, keeping the overall bias positive.

On February 6, foreign institutional investors (FIIs) were net buyers, purchasing equities worth ?1,950 crore, while domestic institutional investors (DIIs) were net sellers, offloading equities worth over ?1,265 crore.

In a volatile environment shaped by ongoing global uncertainties, traders are advised to remain disciplined and selective, focusing on fundamentally strong stocks on declines. Fresh long positions should be considered only after the Nifty sustains a clear breakout above 26,000, which would signal a more durable improvement in overall market sentiment.

Indian equity markets are expected to open on a positive note on February 9, with GIFT Nifty indicating an opening around 25,923, up nearly 187 points, suggesting a strong bullish start to the session.

In the previous session, the Nifty 50 began on a weak footing and remained under selling pressure during the first half, recording an intraday low of 25,491.90. However, a strong rebound in the latter half led to a recovery of nearly 210 points from the day’s low, and the index eventually closed at 25,693.70, reflecting robust buying interest at lower levels. From a technical perspective, near-term resistance is placed in the 25,850–25,900 zone, while immediate support is located at 25,550–25,600.

The Bank Nifty displayed relative strength despite broader market volatility, closing near 60,100 and holding firmly above the key psychological level of 60,000. The 59,600–59,700 range, supported by the 20-day EMA, continues to act as a strong demand zone. Immediate resistance is seen at 60,400–60,500, and a decisive breakout above this band could propel the index toward the 60,500–61,000 range, keeping the overall bias positive.

On February 6, foreign institutional investors (FIIs) were net buyers, purchasing equities worth ?1,950 crore, while domestic institutional investors (DIIs) were net sellers, offloading equities worth over ?1,265 crore.

In a volatile environment shaped by ongoing global uncertainties, traders are advised to remain disciplined and selective, focusing on fundamentally strong stocks on declines. Fresh long positions should be considered only after the Nifty sustains a clear breakout above 26,000, which would signal a more durable improvement in overall market sentiment.

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