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Below the Quote on Post-Market Comment by Mandar Bhojane, Research Analyst, Choice Broking 

The benchmark Sensex and Nifty indices are likely to open on a flat note on July 9, following cues from GIFT Nifty, which is trading near 24,388.

The Nifty has been trading sideways in the range of 24,200 to 24,400. If the index closes above the 24,400 level, it could further rise to 24,500 and 24,600. On the flip side, 24,200 acts as immediate support.

Bank Nifty witnessed a consolidation. The price action of the last eight to ten trading sessions has created a broad range of 52,000 – 53,500, and we expect the Bank Nifty to consolidate within this range over the next few trading sessions. If the index strongly closes above 53,000, it could further rise to a new all-time high, while 52,000 and 51,900 act as immediate support levels.

Foreign institutional investors (FIIs) bought equities worth Rs 60.98 crore on July 8, while domestic institutional investors turned net buyers as they bought equities worth Rs 2,866 crore.

The market is expected to remain volatile. Hold your positions with a trailing stop-loss. Any dip will be a buying opportunity as the overall trend remains bullish.

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