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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 flat or on a positive note on February 26 as trends in the GIFT Nifty indicate a muted start for the broader index with a gain of 10 points.

Nifty can find support at 22,150 followed by 22,100 and 22,050. On the higher side, 22,300 can be an immediate resistance, followed by 22,350 and 22,450.

The charts of Bank Nifty indicate that it may get support at 46,600, followed by 46,500 and 46,400. If the index advances, 47,200 would be the initial key resistance, followed by 47,300 and 47,500.

Foreign institutional investors (FIIs) net bought shares worth Rs 1,276.09 crore, while domestic institutional investors (DIIs) purchased Rs 176.68 crore worth of stocks on February 23, provisional data from the NSE showed.

INDIAVIX was Negative on Friday and is currently trading at 14.9725.

In the Friday’s session we have seen some profit booking on Nifty and bank nifty from higher levels but the overall trend remains bullish and hence it is advised to buy the dips with a stop loss of 22000 levels. On the higher side traders should keep booking profits in Nifty as well as Bank Nifty. There can be stock specific action in the last week of Feb.

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