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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 likely to open on a flat-to-negative note on March 22 as trends in the GIFT Nifty indicate a muted start for the broader index with a loss of 23 points.

Nifty can find support at 21,950 followed by 21,900 and 21,800. On the higher side, 22,100 can be an immediate resistance, followed by 22,150 and 22,200.

The charts of Bank Nifty indicate that it may get support at 46,500, followed by 46,300 and 46,100. If the index advances, 46,800 would be the initial key resistance, followed by 47,000 and 47,100.

Foreign institutional investors (FIIs) net sold shares worth Rs 1,826.97 crore, while domestic institutional investors (DIIs) bought Rs 3,208.87 crore worth of stocks on March 21, provisional data from the NSE showed.

INDIAVIX was Negative by 7.13 percent and is currently trading at 12.5125.

Yesterday, after a gap up opening on the Nifty, we had a range bound session on the weekly expiry, with the Nifty closing above 22000 levels. US markets are making new highs and trading at all-time highs. Traders with long positions should maintain a stop loss at 21800 levels on a closing basis. Accenture cut its revenue prediction for fiscal year 2024, which may cause a fall in IT equities.

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