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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 gap-down on April 3 as trends in the GIFT Nifty indicate a weak start for the broader index with a loss of 120 points.

Nifty can find support at 22,350 followed by 22,300 and 22,250. On the higher side, 22,500 can be an immediate resistance, followed by 22,550 and 22,600.

The charts of Bank Nifty indicate that it may get support at 47,300, followed by 47,100 and 46,900. If the index advances, 47,600 would be the initial key resistance, followed by 47,700 and 47,800.

Foreign institutional investors (FIIs) net sold shares worth Rs 1623 crore, while domestic institutional investors (DIIs) purchased Rs 1953 crore worth of stocks on April 2, provisional data from the NSE showed.

INDIAVIX was Negative by 3.56 percent and is currently trading at 11.6525.

Yesterday, global markets fell from their highs following a surge in bond yields. With FII selling pressure, we should expect a pullback from all-time highs. Traders with long positions should maintain a strict stop loss of 22250 on a closing basis.

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