Pre-market comment by Deven Mehata, Choice Broking Ltd
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _9.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 Analyst, Choice Broking Ltd
The benchmark Sensex and Nifty indices are likely to open higher on March 7 as trends in the GIFT Nifty indicate a positive start for the broader index with a gain of 55.50 points.
Nifty can find support at 22,400 followed by 22,350 and 22,300. On the higher side, 22,500 can be an immediate resistance, followed by 22,600 and 22,650.
The charts of Bank Nifty indicate that it may get support at 47,700, 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 2,766.75 crore, while domestic institutional investors (DIIs) purchased Rs 2,149.88 crore worth of stocks on March 6, provisional data from the NSE showed.
INDIAVIX was flat to negative yesterday by 0.59 percent and is currently trading at 14.2950.
Yesterday Nifty bounced from the strong support of 22220 levels and has closed above the all-time high levels. The traders are advised to hold long positions with a stop loss of 22300 on closing basis. Bank nifty has also shown strength yesterday on the weekly expiry near and closed the session near 48000. Traders holding bank nifty and banking stocks can hold with a trailing stop loss of 47700 on closing basis.
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Clean Science and Technology.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Somany logo.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/startup.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Srinivas Narayanan.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Mongolia.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/nitingadkari37.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/jul03v68_wcHr0zT.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/IT Sector03.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Bharti Airtel Ltd.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Stock bull.jpg)
Sensex touches 80,000 for first time, Nifty at all-time high
![Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/Shrikant Chouhan.jpg)
![Daily Market Analysis : Markets edged higher, gaining over half a percent, driven by favorable cues Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Quote on Kotak Mutual Funds for Sensex at 80000 by Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co. Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Co. Ltd.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/HDFC Securities.jpg)
Markets corrected sharply on Friday after a gap down opening - HDFC Securities
![The markets are expected to open marginally higher today as trends in GIFT Nifty - ARETE Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/arete securities.jpg)
![Banknifty opened on a flat note and remained in a small range throughout the day - Axis Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/axis securities.jpg)
![Selling pressure throughout the week & closed below the ongoing channel pattern support level of 22140 - Tradebulls Securities](https://portfolio.investmentguruindia.com/uploads/news/Tradebull Securities.jpg)