Quote on Pre-market comment for Thursday November 12 by Hitesh Tailor, Technical Research Analyst at Choice Broking
Below the Quote on Pre-market comment for Thursday November 12 by Hitesh Tailor, Technical Research Analyst at Choice Broking
Indian markets are likely to witness a flat-to-positive start on 12th November 2026, with Gift Nifty at 25,238, up 12 points, signalling a mildly supportive opening. Global cues remain mixed, with investors weighing overnight movements in US and Asian markets amid concerns around interest-rate expectations and geopolitical uncertainty. Market participants are likely to remain focused on global risk sentiment, crude oil trends and ongoing domestic earnings developments.
In the previous session on 11th November 2026, Nifty opened with a sharp gap-up of nearly 293 points and touched an intraday high of 25,424.35. However, profit booking emerged after an early Doji formation, dragging the index to 25,095.35 before it recovered to close at 25,255.05, up 210.40 points (+0.84%). Auto, PSU Banks, Chemicals, Banking, Financial Services and FMCG outperformed, while IT, Pharma, Realty and Healthcare remained under pressure.
Despite the positive close, rejection from higher levels indicates some near-term profit booking. RSI at 79.49 reflects overbought conditions, while India VIX edged higher to 17.55, suggesting increased volatility. Derivatives data highlights support around 25,200 and 25,000, with Call writing indicating supply at higher levels. Immediate support is placed at 25,000–25,100, while resistance is seen at 25,450–25,500.
In the previous session on 11th November 2026, Bank Nifty rallied sharply, opening nearly 783 points higher and touching 61,394.30 before witnessing profit booking near the crucial 61,400 resistance zone. It closed at 60,792.40, up 1,051.15 points (+1.76%), forming a candle with a long upper shadow, indicating selling pressure at higher levels. Immediate support is placed at 60,000–60,300, while resistance is seen at 61,000–61,200.
On 11th November, FIIs turned net buyers with equity purchases worth Rs 12,563 crore, while DIIs extended their selling streak to the ninth consecutive session, recording net sales of Rs 8,434 crore.
The overall market structure remains positive, backed by strong FII participation and continued strength in banking stocks. However, elevated RSI levels and rejection from higher intraday levels suggest that volatility and selective profit booking may persist. With Gift Nifty indicating only modest gains, a sustained move beyond immediate resistance zones will be important for further upside.
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