Pre-market comment by Deven Mehata, Choice Broking Ltd
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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 higher on February 27 as trends in the GIFT Nifty indicate a positive start for the broader index with a gain of 74.50 points.
Nifty can find support at 22,050 followed by 22,000 and 21,950. On the higher side, 22,200 can be an immediate resistance, followed by 22,250 and 22,300.
The charts of Bank Nifty indicate that it may get support at 46,450, followed by 46,300 and 46,200. If the index advances, 46,800 would be the initial key resistance, followed by 46,950 and 47,100.
Foreign institutional investors (FIIs) net sold shares worth Rs 285.15 crore, while domestic institutional investors (DIIs) offloaded Rs 5.33 crore worth of stocks on February 26, provisional data from the NSE showed.
INDIAVIX was positive yesterday by 4.19 percent and is currently trading at 15.6000.
In the cash market, FII and DII activities remained subdued yesterday. India VIX witnessed an increase in the final week of February ahead of the monthly expiry. Traders are advised to retain long positions on Nifty, implementing a rigorous stop loss of 22000 on a closing basis, as stock-specific movements are anticipated in the lead-up to the monthly expiry.
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