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Below the Quote on Pre-market comment for Tuesday August 11 by Hitesh Tailor, Technical Research Analyst at Choice Broking

Indian equity markets are expected to open on a mildly negative note, with Gift Nifty trading around 24,603, down 28 points, indicating a subdued start for domestic indices. Global cues remain mixed as investors balance easing U.S. rate concerns against elevated crude oil prices and ongoing geopolitical uncertainty around the Middle East. With U.S. July CPI data due this week, markets are likely to remain cautious and sensitive to inflation and interest-rate expectations.

In the previous session on 10th August 2026, Nifty 50 closed at 24,583.80, gaining 13.15 points (+0.05%), after a highly volatile yet range-bound session. The index continued to hold above its short-term moving averages, while the formation of a small-bodied daily candle reflected indecision between buyers and sellers. The broader technical structure remains constructive, although the lack of a decisive breakout indicates that consolidation may continue in the near term.

From a technical perspective, 24,400–24,450 is expected to act as the immediate support zone, while 24,750–24,800 remains the key resistance area. Holding above support could keep the sideways-to-positive bias intact, with buying interest likely to emerge on dips. A decisive move beyond the resistance zone would improve momentum and provide a fresh directional trigger for the index.

In the previous session on 10th August 2026, Bank Nifty maintained a cautiously positive structure, with the index continuing to hold above its key moving averages despite ongoing consolidation. Buying interest at lower levels keeps the broader trend constructive. Immediate support is placed at 57,200–57,500, while resistance is seen around 58,000–58,200. Holding above support could sustain the positive undertone, while a decisive move beyond resistance may provide fresh momentum for the next upmove.

The near-term outlook remains cautiously positive with a range-bound bias, as domestic technical structure continues to hold despite mixed global cues and softer Gift Nifty indications. Elevated crude oil prices and geopolitical uncertainty may cap gains, while upcoming U.S. inflation data could influence global risk appetite. Holding key support levels should keep downside contained, with selective buying likely to emerge on dips.

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