IGI Logo

Below the Quote on Pre-market comment by Deven Mehata Research Analyst Choice Broking

The benchmark Sensex and Nifty indices are likely to open higher on February 28 as trends in the GIFT Nifty indicate a firm start for the broader index with a gain of 43.50 points.

Nifty can find support at 22,100 followed by 22,050 and 22,000. On the higher side, 22,250 can be an immediate resistance, followed by 22,300 and 22,350.

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 1,509.16 crore, while domestic institutional investors (DIIs) bought Rs 2,861.56 crore worth of stocks on February 27, provisional data from the NSE showed.

INDIAVIX was positive yesterday by 0.12 percent and is currently trading at 15.7275.

During the latter part of yesterday's trading session, the market experienced a significant upward surge. In today's session, there is an anticipation of Nifty approaching all-time high levels before the monthly expiry. Traders are recommended to maintain long positions, implementing a stop loss at 22100 levels. Opportunities for buying on any market dips are advisable. Additionally, it is expected that there will be specific movements in individual stocks, providing further opportunities for focused trading. Traders are encouraged to stay vigilant for potential stock-specific actions while navigating the market dynamics.

Above views are of the author and not of the website kindly read disclaimer