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

Indian equities are likely to see a mildly cautious opening, with Gift Nifty around 24,358, down 38 points. Overnight, Wall Street ended mixed-to-lower as investors assessed Nvidia’s earnings and renewed concerns over U.S. inflation, while early Asian markets are trading mostly higher. Meanwhile, Brent crude remains near $87 amid ongoing Iran–Oman discussions over the Strait of Hormuz, keeping geopolitical developments relevant for Indian markets.

In the previous session on 26th August 2026, Nifty 50 closed at 24,207.75, down 126.80 points (-0.52%), after facing rejection near the 200-Day EMA around 24,375. The index gradually weakened through the session and ended at the day’s low, while RSI at 47.50 reflected fading momentum. Metal, Chemical and banking sectors showed relative strength, whereas IT, Auto, FMCG and Realty remained under pressure.

PCR at 1.20 and subdued India VIX at 10.57 indicates that derivatives positioning remains supportive despite the weak price action. Put OI around 24,200–24,000 provides a cushion, while Call OI near 24,300–24,500 may cap rebounds. Immediate support is placed at 24,000–24,050, while resistance is seen at 24,350–24,400.

In the previous session on 26th August 2026, Bank Nifty closed at 57,783.75, gaining 269.55 points (+0.47%), outperforming Nifty amid strong buying in private banks. The index sustained above its rising trendline and short-term moving averages, keeping the broader structure resilient. Immediate support is placed at 57,000–57,300, while resistance is seen around 58,000–58,200. A sustained breakout above 58,200 could strengthen the upside momentum.

On 26th August 2026, FIIs remained net buyers for the second consecutive session, purchasing equities worth ?502 crore, while DIIs continued their strong buying activity with investments of ?6,425 crore. The significant DII inflow provided strong domestic support despite weakness in the benchmark indices.

The near-term bias remains cautious and range-bound, with mixed Asian markets and subdued global cues keeping investors watchful. The focus remains on inflation, bond yields and ongoing geopolitical developments, while easing crude prices could provide some support to Indian equities. Overall, the market may see selective buying and volatility, with a clear directional move likely to emerge only after key global triggers.

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