22-04-2024 09:26 AM | Source: Choice Broking Ltd
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 positive note on April 22 as trends in the GIFT Nifty indicate a higher start for the broader index with a gain of 139.50 points.

After a gap up opening nifty can find support at 22,100 followed by 22,000 and 21,950. On the higher side, 22,250 can be an immediate resistance, followed by 22,300 and 22,400.

The charts of Bank Nifty indicate that it may get support at 47,300, followed by 47,100 and 47,000. If the index advances, 47,800 would be the initial key resistance, followed by 48,000 and 48,200.

Foreign institutional investors (FIIs) net bought shares worth Rs 129.39 crore, while domestic institutional investors (DIIs) sold Rs 52.50 crore worth of stocks on April 19, provisional data from the NSE showed.

INDIAVIX was Positive by 3.20 percent and is currently trading at 13.4575.

We have witnessed a strong bounce back from the strong support of 21700-21800 levels. We can witness the further up move towards the next resistance of 22300-22350 levels. Traders and investors holding from lower levels should hold a long position with a stop loss of 21950 levels on closing basis.


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