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Below the Quote on Pre-market comment for Wednesday October 14 by Hitesh Tailor, Technical Research Analyst at Choice Broking

Indian equities are likely to open on a weak note on 14th October, with Gift Nifty at 22,765, down 85 points. Global cues remain mixed as US markets closed marginally lower, while Asian equities showed a modest recovery in technology stocks. Elevated crude oil prices amid Middle East tensions continue to fuel inflation concerns, with investors also tracking US inflation data and domestic corporate earnings for fresh direction.

In the previous session on 13th October 2026, Nifty closed at 22,721.95, gaining 358.60 points (+1.60%) after a strong recovery from its intraday low of 22,288.45. The index formed a bullish candle, covering the previous two sessions’ trading range. IT led the sectoral rally, followed by Realty, FMCG, Auto and Metal, while Pharma remained marginally weak.

RSI improved to 43.43, above its average of 31.90, while India VIX eased to 14.0400, indicating reduced volatility. Immediate support is placed at 22,500–22,550, while resistance is seen at 22,850–22,900.

In the previous session on 13th October 2026, Bank Nifty closed at 55,481.05, gaining 563.05 points (+1.03%) after strong buying lifted the index to a high of 55,551.75. The bullish candle and RSI at 48.22, above its average of 38.35, indicate improving momentum. Immediate support is placed at 55,000–55,200, while resistance is seen at 55,800–56,000.

On 13th October 2026, FIIs extended their selling streak to 13 consecutive sessions, recording net sales of approximately ?1,305 crore, though the pace of outflows moderated. DIIs continued to provide strong support, with net purchases exceeding ?2,439 crore, helping cushion the impact of foreign investor selling.

The near-term outlook remains constructive but vulnerable to volatility, with the previous session’s strong recovery improving market sentiment. However, Gift Nifty’s weak indication and persistent FII selling could temper early optimism. Domestic institutional buying remains supportive, while the market’s ability to defend recent gains and absorb supply at higher levels will be key to maintaining the recovery. Intermittent profit booking may keep the session uneven

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