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Below the Quote on Pre-market comment for Thursday Feb 5 by Hitesh Tailor, Research Analyst, Choice Broking

Indian equity markets are likely to open flat to slightly negative on February  5, with GIFT Nifty indicating an opening around 25,801, down nearly 47 points.

In the previous session, the Nifty 50 opened with a sharp 70-point gap-down, slipped to an intraday low near 25,563, and spent most of the day consolidating amid weak participation. However, a late-session recovery helped the index close around 25,776, indicating buying interest at lower levels. Technically, immediate resistance is placed at 25,900–25,950, while support is seen at 25,600–25,650. The RSI stands at 54.61 and is trending upward, though it remains below strong bullish territory.

The Bank Nifty opened flat to mildly positive and traded within a narrow range during the first half. In the latter part of the session, the index rebounded sharply from the crucial 60,100 support level and touched an intraday high near 60,389, reflecting renewed buying interest. Resistance is seen at 60,500–60,600, while support lies at 59,900–60,000. The RSI at 57.22 is rising, indicating mild bullish momentum.

On the institutional front, foreign institutional investors (FIIs) turned net buyers on February 4, purchasing equities worth ?29.8 crore. Domestic institutional investors (DIIs) continued their buying streak, investing over ?249 crore during the session.

Given ongoing global uncertainties and elevated market volatility, traders are advised to remain selective and disciplined, focusing on fundamentally strong stocks during market corrections. Fresh long positions should be considered only after a decisive and sustained breakout above the 26,000 level on the Nifty, which would signal a meaningful improvement in overall market sentiment.

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