Indian Stock Market Pre-Market Outlook – 03 February 2026: Nifty Holds Firm Above 25,000 | OMCs & Realty Stocks on Traders’ Radar
Updated: 03 February 2026
Category: Pre Market | Market Analysis
By CapitalKeeper Research Desk
The Indian stock market is entering a transition phase. Panic selling appears to be over, but confidence is rebuilding gradually. This environment rewards discipline, patience, and sector selection.
Pre-Market Snapshot (Based on Previous Close – 02 Feb 2026)
| Index | Close | Change Bias |
|---|---|---|
| Nifty 50 | 25,088.40 | Range-bound to Positive |
| Bank Nifty | 58,619.00 | Consolidation |
| Sensex | 81,666.46 | Volatile |
| Fin Nifty | 26,799.00 | Stock-specific moves |
Market Overview: What to Expect on 03/02/2026
The Indian equity market enters Tuesday’s session with a cautiously optimistic tone, as Nifty successfully defended the psychologically important 25,000 mark despite heightened volatility around macro and budget-related developments. The broader structure suggests that while aggressive upside is capped for now, selective sectoral rotation is underway.
After the sharp sell-off witnessed recently, markets are now attempting price stabilization, supported by value buying in heavyweight sectors. Traders should expect stock-specific action rather than broad-based momentum.
Two sectors clearly stand out for the near term:
- Oil Marketing Companies (OMCs)
- Nifty Realty
Global Market Cues – Mixed but Stable
Global markets provided mixed signals overnight, with investors globally digesting interest rate expectations and commodity price movements.
Key Global Highlights
- US Markets: Closed mixed as investors awaited further clarity on inflation trajectory
- US Bond Yields: Slight cooling helped ease pressure on emerging markets
- Crude Oil Prices: Stable to marginally higher, supporting OMC margins
- Asian Markets: Likely to open flat to mildly positive
📌 Impact on India:
Stable crude prices combined with a softer dollar index may support OMCs and energy-related stocks, while real estate stocks benefit from easing rate fears.
Institutional Activity Trend (Recent Sessions)
Although short-term volatility remains elevated, institutional flows are gradually turning selectively supportive.
- FIIs: Cautious, reducing index-level risk
- DIIs: Actively buying quality stocks on dips
This divergence usually indicates bottom formation attempts rather than panic selling.
Technical Outlook – Index-Wise Analysis
Nifty 50 Technical View
- Immediate Support: 24,850 – 24,900
- Strong Base: 24,300 – 24,400
- Resistance Zone: 25,200 – 25,350
📊 Indicators Insight
- RSI: Hovering near 45–48, indicating loss of bearish momentum
- MACD: Bearish crossover flattening, suggesting downside exhaustion
- Volume: Declining on down moves – a positive sign
➡️ View:
As long as Nifty holds above 24,850, chances of a gradual up-move or sideways consolidation remain intact.
Bank Nifty Outlook
- Support: 57,500
- Resistance: 59,000 – 59,300
Bank Nifty continues to underperform due to PSU bank weakness. Momentum traders should remain cautious here.
📉 RSI: Below 40 (weak)
📉 MACD: Still negative
➡️ Strategy: Avoid aggressive long positions; trade light and stock-specific.
Sector in Focus #1: Oil Marketing Companies (OMCs)
Short-Term Momentum Building
KEEP ON RADAR – OMC STOCKS
- ONGC
- IOC
- BPCL
- HINDPETRO
- RELIANCE
Why OMCs Look Attractive Now
- Stable crude prices reduce input cost pressure
- Improved refining margins
- Attractive valuations post correction
- Strong support zones respected on charts
Technical Setup (Sectoral View)
- RSI: Rising from oversold zones (30–35)
- MACD: Early bullish crossover on daily charts
- Volume: Accumulation visible near supports
➡️ Trading View:
OMCs are showing early signs of trend reversal. Short-term traders can expect gradual upside moves if crude remains stable.
Stock Highlight – RELIANCE INDUSTRIES
Reliance continues to play a dual role:
- Defensive heavyweight
- Energy sector leader
📌 Technical View
- Support: 1,520–1,530
- RSI stabilizing above 40
- MACD flattening after prolonged decline
➡️ Any recovery in energy sentiment directly benefits Reliance.
Sector in Focus 2: Nifty Realty – Breakout Brewing
KEEP ON RADAR – NIFTY REALTY
The realty index has quietly started outperforming broader markets.
Why Realty Looks Strong
- Interest rate stability expectations
- Strong demand outlook in premium housing
- Improved balance sheets of top realty players
📊 Technical Strength
- RSI above 55 (bullish territory)
- MACD positive crossover
- Higher highs & higher lows formation
➡️ View:
Nifty Realty is well-positioned for an upward move in the short term, even if headline indices remain range-bound.
Options Market Insight (Early Indication)
- Put Writing observed near: 25,000
- Call Writing near: 25,300
- PCR: Improving from lower levels
📌 This structure suggests range-bound trading with positive bias.
Risk Factors to Watch Today
- Sudden spike in India VIX
- Crude oil volatility
- Global cues during European session
⚠️ Volatility is still elevated — avoid over-leveraging.
Intraday & Short-Term Strategy
| Market Type | Strategy |
|---|---|
| Index Trading | Sell on rise near resistance |
| Swing Trading | Focus on OMCs & Realty |
| Options | Light positions, defined risk |
| Positional | Accumulate quality stocks on dips |
Key Takeaways for Traders & Investors
- Nifty defending 25,000 is a confidence booster
- OMC stocks show early trend reversal signs
- Realty sector emerging as relative outperformer
- Avoid PSU banks for now
- Expect stock-specific alpha, not index rallies
FAQs – Indian Stock Market Pre-Market 03 Feb 2026
Q1. Is the market bullish today?
The market is not outright bullish but shows stabilization with selective buying.
Q2. Which sectors look best for short term?
OMCs and Nifty Realty are showing strong technical setups.
Q3. Should traders buy Nifty today?
Only near supports; avoid chasing at higher levels.
Q4. Is volatility still high?
Yes. Trade with strict stop-losses.
Final Word
The Indian stock market is entering a transition phase. Panic selling appears to be over, but confidence is rebuilding gradually. This environment rewards discipline, patience, and sector selection.
📌 OMCs and Realty stocks stand out as early leaders — keep them on your watchlist and trade with defined risk.
Disclaimer: This article is for educational purposes only. Markets involve risk. Please consult your financial advisor before trading.
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Ranjit Sahoo
Founder & Chief Editor – CapitalKeeper.in
Ranjit Sahoo is the visionary behind CapitalKeeper.in, a leading platform for real-time market insights, technical analysis, and investment strategies. With a strong focus on Nifty, Bank Nifty, sector trends, and commodities, she delivers in-depth research that helps traders and investors make informed decisions.
Passionate about financial literacy, Ranjit blends technical precision with market storytelling, ensuring even complex concepts are accessible to readers of all levels. Her work covers pre-market analysis, intraday strategies, thematic investing, and long-term portfolio trends.
When he’s not decoding charts, Ranjit enjoys exploring coastal getaways and keeping an eye on emerging business themes.
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