Pre-Market Outlook – 29.09.2026
Nifty Prev. Close: 22780.25
Thank you for reading this post, don't forget to subscribe!23000 Gives Way, September 28th Range Becomes the Decisive Zone – Nifty closed below the 23000 mark for the first time since March, after several attempts to breach this level over the past six months, signalling renewed weakness and a shift in near-term sentiment. The September 28th trading range now becomes the key reference zone, with a break on either side likely to determine the next directional move.
Amidst weak signals from overseas markets, the benchmark indices are expected to start the day on a muted note. The rest of the day’s movement may largely depend on Nifty’s ability to hold yesterday’s low. If the index sustains this level, there could be room for a fragile bounce towards yesterday’s high. However, unless it decisively moves above and sustains yesterday’s high, even a minor recovery could attract selling pressure. A breakdown below yesterday’s low may drag Nifty towards 22,500, where it could seek the next support.
Traders may continue to adopt a Sell-on-Rise strategy as long as Nifty remains below yesterday’s range.
From a positional perspective, with Nifty now trading well below the interim Behavioural Shift Zone of 23,700, the prevailing selling pressure may extend towards the stronger support zone around 22,200. Investors may use deeper declines to gradually accumulate fundamentally strong and technically attractive stocks. A bullish behavioural shift may emerge only after a decisive close above 23,700. Until then, Nifty may remain vulnerable to further gradual declines towards deeper support levels.
Sectoral Focus
Bank, Finance, Capital Markets, Realty, Energy, IT.
Stocks To Watch
Dr. Reddy’s Laboratories,HCL Technologies, ITC, Bank of India, NCC, Pidilite Industries, Vikram Solar, Dixon Technologies, Manappuram Finance, Adani Green Energy, Lodha Developers.
Apply a firm stoploss strategy across all trades.
Wishing everyone a fortune day!
