Quote on Morning Outlook from Hitesh Tailor, Technical Research Analyst at Choice Broking Private Limited
Below the Quote on Morning Outlook from Hitesh Tailor, Technical Research Analyst at Choice Broking Private Limited
"Indian equities are likely to open higher, with Gift Nifty trading around 23,235, up 33 points. Global markets are showing a cautious tone ahead of the U.S. Federal Reserve’s policy decision later today, with Asian equities mixed after U.S. markets closed lower. Investors will closely track the Fed’s rate decision and forward guidance, which could influence global risk sentiment and near-term market direction.
In the previous session on 15th September 2026, Nifty witnessed a sharp reversal after opening nearly 178 points higher, closing at 23,118.60, down 279.50 points (-1.19%). The index failed to sustain gains near 23,593 and slipped to the day’s low, forming a strong bearish candle amid intense selling pressure. RSI at 22.23 indicates deeply oversold conditions.
The technical setup remains weak, with elevated VIX and Call OI around 23,300–23,500 suggesting overhead supply. Immediate support is placed at 23,000–23,050, while resistance is seen at 23,300–23,400. A sustained recovery above resistance could provide some relief, while a break below 23,000 may extend the downside.
In the previous session on 15th September 2026, Bank Nifty declined sharply by 811.80 points (-1.43%) to close at 55,794.75, after facing rejection near the 200-Day EMA. The index slipped from the session high of 56,996.35 and formed a bearish engulfing candle, with RSI at 33.23 reflecting weak momentum. Immediate support is placed at 55,000–55,300, while resistance is seen at 56,000–56,500. The near-term setup remains under pressure.
Foreign institutional investors (FIIs) continued their selling streak for the fifth consecutive session, recording net equity sales of Rs 2,977 crore on 15th September 2026. In contrast, domestic institutional investors (DIIs) remained supportive, making net purchases of Rs 2,686 crore during the session.
The near-term setup remains defensive, with persistent institutional selling and weak price structure keeping sentiment under pressure. Oversold conditions in Nifty may trigger intermittent relief rallies, but these could remain vulnerable to selling at higher levels. Sustained stabilization and stronger participation from buyers would be required to improve the broader market tone."
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