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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 positive note on April 9 as trends in the GIFT Nifty indicate a higher start for the broader index with a gain of 59.50 points.

Nifty can find support at 22,600 followed by 22,550 and 22,500. On the higher side, 22,800 can be an immediate resistance, followed by 22,850 and 22,900.

The charts of Bank Nifty indicate that it may get support at 48,300, followed by 48,100 and 48,000. If the index advances, 48,650 would be the initial key resistance, followed by 48,800 and 49,000.

Foreign institutional investors (FIIs) net sold shares worth Rs 684.68 crore, while domestic institutional investors (DIIs) bought Rs 3,470.54 crore worth of stocks on April 8, provisional data from the NSE showed.

INDIAVIX was Positive by 2.40 percent and is currently trading at 11.6100.

Nifty and Bank Nifty both the indices have reached new all-time high levels. This momentum can continue and hence buy on dips should be the strategy. Traders holding long positions should trail stop loss at 22500 on closing basis.

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