Pre-market comment by Deven Mehata, Choice Broking Ltd
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _16.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below the Quote on Pre-market comment by Deven Mehata, Research Analysts, Choice Broking Ltd
The benchmark Sensex and Nifty indices are likely to open on a positive note on March 11 as trends in the GIFT Nifty indicate a strong start for the broader index with a gain of 53 points.
After a gap up opening nifty can find support at 22,400 followed by 22,350 and 22,300. On the higher side, 22,600 can be an immediate resistance, followed by 22,650 and 22,700.
The charts of Bank Nifty indicate that it may get support at 47,600, followed by 47,500 and 47,300. If the index advances, 48,200 would be the initial key resistance, followed by 48,500 and 48,630.
Foreign institutional investors (FIIs) net bought shares worth Rs 7,304.11 crore, while domestic institutional investors (DIIs) purchased Rs 2,601.81 crore worth of stocks on March 7, provisional data from the NSE showed.
INDIAVIX was negative by 4.77 percent and is currently trading at 13.6125.
The substantial buying interest from both Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) is expected to propel the market to higher levels. Nifty has the potential to reach around 22700 in the near term. Traders with long positions are advised to trail their stop loss at 22350 levels. Additionally, traders can consider implementing a buy-on-dips strategy, ensuring adherence to the specified stop loss.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Gv_summer vacation_47.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/powerS_01Feb.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Indian Railways_54.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/ICICI Direct IMAGE.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/shrey jain.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Advisory.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/persistent37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/indianshare1.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/HDFC Securities.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/shrey jain.jpg)
Mid Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India`s Deep Discount Broker
More News
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _24.jpg)
Morning Market Quote : The global rally in December led by the mother market US has lifted m...
![Market Quote : The market looked for new triggers for a decisive move beyond the 19800 level Says Mr. Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/uploads/news/Broker _12.jpg)
![Pre-market comment by Deven Mehata, Choice Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Broker _14.jpg)
![Quote on Nifty : Bulls successfully regained control from bears, pushing Nifty back above the 20,000 mark Says Rupak De, LKP Securities](https://portfolio.investmentguruindia.com/uploads/news/27bd7a83f730b04eb8727b2e9822995a.jpg)