Pre-market comment by Deven Mehata, Choice Broking Ltd
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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 on a flat to Negative note on March 26 as trends in GIFT Nifty indicate a lower start for the broader index with a loss of 55 points.
Nifty can find support at 22,000 followed by 21,950 and 21,850. On the higher side, 22,150 can be an immediate resistance, followed by 22,200 and 22,300.
The charts of Bank Nifty indicate that it may get support at 46,600, followed by 46,500 and 46,300. If the index advances, 47,000 would be the initial key resistance, followed by 47,100 and 47,250.
Foreign institutional investors (FIIs) net sold shares worth Rs 3,309.76 crore, while domestic institutional investors (DIIs) bought Rs 3,764.87 crore worth of stocks on March 22, provisional data from the NSE showed.
INDIAVIX was Negative by 2.34 percent and is currently trading at 12.2200.
Indian markets are currently trading in a range. On the lower side 21800 is the strong support whereas on the higher side 22200 is the strong resistance on the higher side. Traders are advised to take contra traders where buy on dips and sell on rise strategies will help traders to earn good profits. Positional traders holding long positions should hold with a stop loss of 21800 on a closing basis.
The benchmark Sensex and Nifty indices are likely to open on a flat to Negative note on March 26 as trends in GIFT Nifty indicate a lower start for the broader index with a loss of 55 points.
Nifty can find support at 22,000 followed by 21,950 and 21,850. On the higher side, 22,150 can be an immediate resistance, followed by 22,200 and 22,300.
The charts of Bank Nifty indicate that it may get support at 46,600, followed by 46,500 and 46,300. If the index advances, 47,000 would be the initial key resistance, followed by 47,100 and 47,250.
Foreign institutional investors (FIIs) net sold shares worth Rs 3,309.76 crore, while domestic institutional investors (DIIs) bought Rs 3,764.87 crore worth of stocks on March 22, provisional data from the NSE showed.
INDIAVIX was Negative by 2.34 percent and is currently trading at 12.2200.
Indian markets are currently trading in a range. On the lower side 21800 is the strong support whereas on the higher side 22200 is the strong resistance on the higher side. Traders are advised to take contra traders where buy on dips and sell on rise strategies will help traders to earn good profits. Positional traders holding long positions should hold with a stop loss of 21800 on a closing basis.
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