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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 in the green on April 8 as trends in the GIFT Nifty indicate a positive start for the broader index with a gain of 55 points.

Nifty can find support at 22,400 followed by 22,350 and 22,300. On the higher side, 22,600 can be an immediate resistance, followed by 22,650 and 22,700.

The charts of Bank Nifty indicate that it may get support at 48,200, followed by 48,000 and 47,900. If the index advances, 48,650 would be the initial key resistance, followed by 48,800 and 49,000.

Foreign institutional investors (FIIs) net bought shares worth Rs 1,659.27 crore, while domestic institutional investors (DIIs) sold Rs 3,370.42 crore worth of stocks on April 5, provisional data from the NSE showed.

INDIAVIX was Positive by 1.05 percent and is currently trading at 11.3375.

Indian markets are trading very close to all-time high levels. Traders holding long positions from lower levels should hold with a trailing stop loss of 22350 on a closing basis. Based on selling figures from DII’s we can witness some dips in the markets and hence traders are advised to buy on dips near 22400 with a stop loss of 22350 on closing basis.

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