Pre-market comment by Deven Mehata ,Choice Broking
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Below the Quote on Pre-market comment by Deven Mehata, Research Analyst, Choice Broking Ltd
The benchmark Sensex and Nifty indices are expected to open positively on May 16, following GIFT Nifty trends indicating a gain of 90 points for the broader index.
Nifty can find support at 22,150 followed by 22,100 and 22,000. On the higher side, 22,300 can be an immediate resistance, followed by 22,350 and 22,400.
The charts of Bank Nifty indicate that it may get support at 47,500, followed by 47,300 and 47,200. If the index advances, 47,900 would be the initial key resistance, followed by 48,100 and 48,200.
FIIs sold shares worth Rs 2,832.83 crore. DIIs pumped in Rs 3,788.38 crore worth of stocks on May 15
INDIAVIX was flat to positive yesterday by 0.38 percent and is currently trading at 20.2725.
Yesterday Indian markets were flat to slightly negative due to continued selling pressure by FII’s but US markets made a new all-time high yesterday. Traders holding a long position should hold with a trailing stop loss of 22100 on a closing basis.
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