IGI Logo

Below the Quote on Pre-Market Comment by Hardik Matalia, Research Analyst, Choice Broking

The benchmark Sensex and Nifty indices are expected to open flat on Aug 13, following GIFT Nifty trends indicating a loss of -20 points for the broader index.

After a flat opening, Nifty can find support at 24,200 followed by 24,150 and 24,100. On the higher side, 24,500 can be an immediate resistance, followed by 24,550 and 24,600.

The charts of Bank Nifty indicate that it may get support at 50,200, followed by 50,000 and 49,800. If the index advances further, 50,700 would be the initial key resistance, followed by 50,900 and 51,000.

The foreign institutional investors (FIIs) sold equities worth Rs 4680 crore on August 12, while domestic institutional investors bought equities worth Rs 4477 crore on the same day.

INDIAVIX was positive yesterday up by 3.47% and is currently trading at 15.8675.

Yesterday, the Indian markets ended marginally lower after high volatility. We have seen a selling pressure from FII’s. Nifty is facing resistance near 24500 levels. On the lower side, Nifty is managing to hold above 24200 levels. Traders holding long positions should hold with the trail stop loss of 24200 on a closing basis.

Above views are of the author and not of the website kindly read disclaimer