Pre-market action: Here's the trade setup for today's session

By

Akash Podishetti

, ETMarkets.comLast Updated: Sep 08, 2026, 05:45:00 AM IST

Synopsis

Indian benchmark indices opened flat and remained under pressure throughout the session. Analysts suggest the Nifty's immediate bias remains down, targeting key support levels. The India VIX, a fear gauge, rose significantly, indicating market anxiety. Foreign portfolio investors and domestic institutional investors were net buyers on Monday. The Indian rupee traded in a narrow range due to RBI intervention and oil price concerns.

Indian benchmark indices opened on a flat note but remained under pressure throughout the session, with continued selling in large-cap stocks weighing on the benchmarks. Analysts say immediate bias in the Nifty remains down and sustaining below 24,025 levels will open downside towards the key support area of 23,600-23,500 levels being the confluence of the previous major gap area and the low of July 2026.

STATE OF THE MARKETS

Tech View: The momentum indicator RSI is falling deeper into the bearish zone, further confirming weak momentum. In the near term, the weakness is likely to continue, with the index potentially declining towards 23,700/23,620. On the higher end, resistance is placed at 23,900

India VIX: India VIX, which is a measure of the fear in the markets, rose 4.5% to settle at 11.16.

Read more: Ahead of Market: 10 things that will decide stock market action on Tuesday

Stocks in F&O ban today

1) SAIL

2) LIC Housing Finance

3) Inox Wind

4) Kaynes

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

FII/DII action

Foreign portfolio investors net bought shares worth Rs 280 crore on Monday. DIIs, meanwhile, were net buyers at Rs 567 crore.

Rupee

The Indian rupee traded in a narrow range on Monday, wedged between sustained market intervention by the Reserve Bank of India and a rise in oil prices ‌as strikes on vessels sailing through the Strait of Hormuz stoked worries over energy flows.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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