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Below the Quote on Pre-Market Comment by Deven Mehata , Research Analyst, Choice Broking

The benchmark Sensex and Nifty indices are expected to open flat on July 10, following GIFT Nifty trends indicating a loss of 3 points for the broader index.

Nifty can find support at 24,350 followed by 24,300 and 24,200. On the higher side, 24,500 can be an immediate resistance, followed by 24,600 and 24,650.

The charts of Bank Nifty indicate that it may get support at 52,300, followed by 52,200 and 52,000. If the index advances further, 52,800 would be the initial key resistance, followed by 52,900 and 53,000.

The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 314 crore on July 9, while domestic institutional investors also bought equities worth Rs 1416 crore on same day.

INDIAVIX was positive yesterday up by 5.00% and is currently trading at 14.2800.

Yesterday we saw that Nifty has given a strong breakout above 24400 levels and has closed at all-time high levels. Now on the lower side 24250-24300 will act as a strong support. Traders holding a long position should hold with a trailing stop loss of 24250 on a closing basis. Fresh long positions should be entered on dips with the mentioned stop loss.

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