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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 on a flat to negative note on May 24, following GIFT Nifty trends indicating a loss of 25 points for the broader index.

Nifty can find support at 22,900 followed by 22,850 and 22,800. On the higher side, 23,025 can be an immediate resistance, followed by 23,100 and 23,200.

The charts of Bank Nifty indicate that it may get support at 48,500, followed by 48,300 and 48,200. If the index advances, 49,000 would be the initial key resistance, followed by 49,200 and 49,300.

Foreign institutional investors turned buyers on May 23 as they bought Indian equities worth Rs 4,670.95 crore, while domestic institutional investors bought Rs 146.51 crore worth of equities during the same period.

INDIAVIX was volatile yesterday but ended flat down by 0.41 percent and is currently trading at 21.3800.

Yesterday we saw a strong breakout on Nifty above all-time high levels and Nifty also closed at fresh all-time high levels near 23000. Even FII’s have purchased yesterday which will help Nifty to move higher towards 23200 levels. Traders should buy on dips near 22800 levels with a strict stop loss of 22700 levels on a closing basis.

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