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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 gap-up on March 21 as trends in the GIFT Nifty indicate a strong start for the broader index with a gain of 146 points.

After a gap up opening nifty can find support at 21,800 followed by 21,750 and 21,700. On the higher side, 22,000 can be an immediate resistance, followed by 22,100 and 22,150.

The charts of Bank Nifty indicate that it may get support at 46,200, followed by 46,000 and 45,900. If the index advances, 46,600 would be the initial key resistance, followed by 46,750 and 47,000.

Foreign institutional investors (FIIs) net sold shares worth Rs 2,599.19 crore, while domestic institutional investors (DIIs) bought Rs 2,667.52 crore worth of stocks on March 20, provisional data from the NSE showed.

INDIAVIX was Negative by 4.53 percent and is currently trading at 13.4725.

The US stock market soared yesterday following a Federal Reserve meeting. The Fed has held interest rates constant, but has hinted that they may decrease rates three times this year. This bodes well for equities markets. Indian markets are facing resistance near the 21950-22000 levels. Once Nifty closes over the aforesaid resistance, it can move on to the next resistance level of 22200.

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