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Below the Quote on Pre-market comment for Tuesday October 13 by Sachin Gupta, VP-Technical Research at Choice Broking

Indian equities are likely to open on a cautiously positive note on 13th October, with Gift Nifty trading at 22,435, up 64 points. However, elevated crude oil prices and Middle East tensions continue to weigh on global sentiment. With domestic retail inflation accelerating to 5.54%, investors will assess the implications for RBI policy alongside ongoing earnings announcements and institutional flows, which may influence the market’s direction.

In the previous session on 12th October 2026, Nifty closed at 22,363.35, down 157.10 points (-0.70%), after failing to sustain its opening gap-up and facing persistent selling pressure. The index formed a bearish candle, reflecting weakness at higher levels. Media led the sectoral gains, while FMCG, PSU Banks, IT and Metal remained under pressure.

RSI stood at 34.04, above its average of 31.27, suggesting some underlying stabilization despite weak price action. India VIX rose to 15.2350, indicating heightened volatility. Immediate support is placed at 22,350–22,400, while resistance is seen around 22,500–22,550.

In the previous session on 12th October 2026, Bank Nifty closed at 54,918.00, down 338.65 points (-0.61%), after failing to sustain its opening gains and facing persistent selling pressure. PSU banks underperformed private banks, with SBI among the major laggards. RSI stood at 42.33, above its average of 37.88, suggesting some momentum stabilisation. Immediate support is placed at 54,500–54,700, while resistance is seen at 55,000–55,500.

On 12th October 2026, FIIs remained net sellers, offloading equities worth Rs 1,708 crore. DIIs continued to provide domestic support, recording net purchases of over Rs 3,045 crore, helping cushion the impact of continued foreign fund outflows.

Overall, the market may attempt a recovery at the opening, but sustaining higher levels could remain challenging amid external uncertainties and elevated domestic inflation. Continued DII support may help absorb selling pressure, while traders will watch price action around key technical levels and the initial earnings reactions for clearer directional cues.

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