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Below the Quote on Pre-market comment for Wednesday September 27 by Hitesh Tailor, Technical Research Analyst, Technical Research at Choice Broking

Indian equity markets are expected to open on a flat to mildly negative note, with Gift Nifty trading around 23,901, down by 11 points, indicating subdued opening cues for domestic indices. Global markets remained largely positive amid stable investor sentiment and easing geopolitical concerns, though cautious trading near higher levels may keep domestic markets range-bound during the early part of the session.

Nifty ended on a negative note on 26th May 2026, closing at 23,913.70, down 118.00 points or 0.49%, amid profit booking after the recent sharp rally. The index opened marginally lower at 24,004.10 and touched an intraday high of 24,089.80 before witnessing sustained selling pressure in the second half. Technically, the formation of a bearish kicker candlestick pattern indicates weakening short-term momentum and cautious market sentiment. Immediate support is placed around the 23,700–23,750 zone, while resistance is seen near the 24,050–24,100 range.

Bank Nifty ended on a mildly negative note on 26th May 2026, closing at 55,092.90, down 200.75 points or 0.36%, amid profit booking after the recent sharp recovery. The index opened marginally higher at 55,311.80 and touched an intraday high of 55,536.80 before witnessing gradual weakness throughout the session. Technically, the formation of a bearish candlestick pattern reflects cautious sentiment and short-term exhaustion near higher levels. Immediate support is placed around the 54,500–54,600 zone, while resistance is seen near the 55,400–55,500 range.

Foreign Institutional Investors (FIIs) turned net sellers on 26th May 2026 and offloaded equities worth ?2,407.90 crore, indicating profit booking and cautious sentiment among overseas investors following the recent market rally. In contrast, Domestic Institutional Investors (DIIs) continued to lend support to the market and remained net buyers with equity purchases worth ?1,361.40 crore, helping cushion the broader market weakness.

The near-term market tone remains cautious but stable, as recent profit booking near higher levels indicates some consolidation after the sharp recovery phase. Despite intermittent weakness, controlled volatility and balanced market breadth suggest that broader sentiment has not deteriorated significantly. Traders are likely to remain focused on key technical zones, while sustained holding above immediate support levels could help the market regain positive momentum.

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