Quote on Pre-market comment for Wednesday September 10 by Hitesh Tailor, Technical Research Analyst at Choice Broking
Below the Quote on Pre-market comment for Wednesday September 10 by Hitesh Tailor, Technical Research Analyst at Choice Broking
Indian equities are likely to see a muted opening, with Gift Nifty trading around 23,495, up 5 points. Global markets remain subdued, with U.S. equities closing lower while Asian markets are showing a mixed trend. With investors awaiting key economic data and fresh domestic triggers, market direction is likely to remain selective and range-bound in the near term.
In the previous session on 9th September 2026, Nifty extended its decline, closing at 23,431.50, down 203.60 points (-0.86%). After a gap-down opening, the index attempted a recovery towards 23,571.55, but renewed selling in the second half pushed it back to the day’s low, resulting in a close below the crucial 23,500 mark.
Technically, Nifty remains below key moving averages and has slipped beneath its recent trendline support, keeping the near-term setup weak. Immediate support is placed at 23,300–23,400, while resistance is seen at 23,500–23,600. RSI remains in oversold territory, leaving room for a technical rebound, but sustained recovery would require the index to reclaim the resistance zone.
In the previous session on 9th September 2026, Bank Nifty extended its decline, closing at 56,295.55, down 482.00 points (-0.85%). The index remained below its rising trendline and 200-Day EMA, keeping the technical structure weak, while RSI hovered near oversold levels. Immediate support is placed at 56,000–56,100, while resistance is seen at 56,800–57,000. A sustained move above resistance would be required to signal improving momentum.
On 9th September 2026, Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth Rs583 crore, while Domestic Institutional Investors (DIIs) continued their buying activity, purchasing equities worth Rs1,509 crore.
The overall bias remains weak, with the broader trend still favouring sellers despite the possibility of short-term relief after the recent decline. Nifty and Bank Nifty may witness selective buying at lower levels, but any recovery is likely to face resistance. A shift towards a more stable outlook would require sustained accumulation and improved market breadth.
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