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Below the Quote on Pre-market comment for Monday October 19 by Hitesh Tailor, Technical Research Analyst at Choice Broking

Indian equities may begin the week on a mildly positive note on 19th October 2026, with Gift Nifty at 23,109, up 15 points. However, Asian markets are trading lower amid concerns over heavy AI investment spending and geopolitical tensions, while easing crude oil prices offer some relief. Investors will track Q2 earnings from major banks, movements in foreign fund flows and developments around the Strait of Hormuz, which could influence volatility through the holiday-shortened week.

In the previous session on 16th October 2026, Nifty closed at 23,146.15, gaining 148.80 points (+0.65%) after recovering from an early dip to 22,913.80 and ending near the day’s high. The long lower wick indicated buying interest at lower levels. IT led sectoral gains, rising 3.92%, while Media, Cement, Auto, Metal and PSU Bank also advanced; Healthcare and Consumer Durables faced pressure.

RSI strengthened to 52.81, above its average of 34.70, while PCR stood at 1.08 and India VIX remained steady at 14.0250. Immediate support is placed at 22,950–23,000, while resistance is seen at 23,250–23,300.

In the previous session on 16th October 2026, Bank Nifty closed at 55,844.00, up 33.50 points (+0.06%), as early gains faded and the index remained range-bound. Banking stocks showed mixed performance, with PNB gaining 1.09% while Yes Bank declined 3.42%. RSI stood at 51.91, above its average of 40.51, indicating improving momentum. Immediate support is placed at 55,400–55,600, while resistance is seen at 56,100–56,300.

On 16th October 2026, FIIs turned net buyers after 15 consecutive sessions of selling, recording equity purchases of approximately Rs 1,166 crore. In contrast, DIIs ended their 45-session buying streak, registering net sales of around Rs3,661 crore. The reversal in domestic flows, alongside renewed foreign buying, signals a shift in institutional activity that market participants will monitor closely.

The market outlook remains mildly positive but cautious, with Gift Nifty pointing to a steady start after Nifty’s recovery and Bank Nifty’s consolidation. FIIs returning as net buyers offer some encouragement, although the sharp reversal in DII flows warrants attention. Global uncertainty and the upcoming earnings announcements may keep stock-specific movements prominent, with follow-through buying needed to sustain the recent upward momentum.

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