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 in the green on February 16 as trends in the GIFT Nifty indicate a positive start for the broader market with a gain of 72.50 points.

After a gap up opening, Nifty can find support at 21,900 followed by 21,850 and 21,800. On the higher side, 22,050 can be an immediate resistance, followed by 22,100 and 22,150.

The charts of Bank Nifty indicate that it may get support at 46,000, followed by 45,900 and 45,700. If the index advances, 46,500 would be the initial key resistance, followed by 46,700 and 46,800.

Foreign institutional investors (FIIs) net sold shares worth Rs 3,064.15 crore, while domestic institutional investors (DIIs) bought Rs 2,276.93 crore worth of stocks on February 15, provisional data from the NSE showed.

INDIAVIX was Negative yesterday by 1.36% and is currently trading at 15.2250.

With the support of global markets, Indian markets are expected to open higher. According to the formerly released NSE statistics, FIIs booked profits in yesterday's session. Traders with long holdings should book profits at the 22050-22150 resistance levels. Aggressive traders can also take short positions at the resistance level, with a strict stop loss of 22,150.

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