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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 18, following GIFT Nifty trends indicating a gain of 2 points for the broader index.

Nifty can find support at 24,550 followed by 24,500 and 24,400. On the higher side, 24,650 can be an immediate resistance, followed by 24,700 and 24,800.

The charts of Bank Nifty indicate that it may get support at 52,200, followed by 52,000 and 51,800. If the index advances further, 52,500 would be the initial key resistance, followed by 52,700 and 52,800.

The foreign institutional investors (FIIs) extended their support as they purchased equities worth Rs 1271 crore, while domestic institutional investors extended their selling as they sold equities worth Rs 529 crore, on July 16.

INDIAVIX was flat to slight positive on Tuesday up by 0.25% and is currently trading at 14.2225. 

We have seen Nifty forming higher high higher lows on daily charts forming all-time high on intraday as well as closing basis. Intraday or short term traders can form a short position on Nifty if Nifty trades below 24575 levels for the target of 24500-24450 levels with a stop loss of 24650. Positional traders holding long position can hold with a trailing stop loss of 24450 on closing basis.

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