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Below the Quote on Pre Market Comment 09th October 2026 by Hitesh Tailor Technical Research Analyst at Choice Broking

Indian equities are likely to open higher on 9th October 2026, with Gift Nifty trading at 22,369, up 114 points, indicating potential recovery after the previous session’s sharp sell-off. However, global cues remain mixed, as weakness in US technology stocks and elevated crude oil prices amid Middle East tensions continue to weigh on sentiment, while some easing in US bond yields offers limited relief. Investors will closely track crude oil movements, global market trends and institutional flows for further direction.

In the previous session on 8th October 2026, Nifty closed at 22,231.80, down 371.25 points (-1.64%), after opening at 22,599.05 and facing sustained selling pressure throughout the session. The index touched a low of 22,179.90 and formed a long-bodied bearish candle, briefly breaking below the April 2026 low of 22,182.55, reflecting significant weakness in market sentiment.

RSI declined to 27.55, with its average at 31.28, keeping momentum in the oversold zone. India VIX surged to 15.2750, signalling heightened volatility. Selling remained broad-based, while IT showed relative resilience. Immediate support is placed at 22,150–22,200, while resistance is seen at 22,450–22,500.

In the previous session on 8th October 2026, Bank Nifty closed at 54,515.05, down 540.50 points (-0.98%), as selling pressure pushed the index below the previous session’s low. Both PSU and private banking indices faced profit booking, while RSI at 36.45, below its average of 37.84, indicated weak momentum. Immediate support is placed at 54,000–54,300, while resistance is seen at 55,000–55,200.

On 8th October 2026, FIIs remained aggressive net sellers, offloading equities worth Rs 12,943 crore. DIIs provided strong support to the market with net purchases of Rs 10,703 crore, partially cushioning the heavy foreign outflows.

Overall market sentiment remains cautiously optimistic for a recovery at the opening, supported by the positive Gift Nifty indication. However, the sharp previous-session decline, persistent FII outflows and elevated volatility suggest that buying conviction needs to improve. Oversold conditions may encourage bargain hunting, but traders are likely to remain selective until price action shows signs of stabilization.

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