Pre-market comment by Deven Mehata , Choice Broking
Below the Quote on Pre-market comment by Deven Mehata, Research Analyst, Choice Broking Ltd
The benchmark Sensex and Nifty indices are expected to open positively on May 14, following trends in the GIFT Nifty that indicate a gain of 70 points for the broader index.
Nifty can find support at 22,050 followed by 22,000 and 21,900. On the higher side, 22,200 can be an immediate resistance, followed by 22,250 and 22,300.
The charts of Bank Nifty indicate that it may get support at 47,500, followed by 47,400 and 47,200. If the index advances, 48,000 would be the initial key resistance, followed by 48,150 and 48,300.
FIIs sold shares worth Rs 4,498.92 crore. DIIs pumped in Rs 3,562.75 crore worth of stocks on May 13
INDIAVIX was positive yesterday by 11.52 percent and is currently trading at 20.6000.
Yesterday Nifty bounced back from the strong support of 21800 levels and made a hammer pattern indicating bullish reversal on daily charts. Traders holding a long position should hold with a trailing stop loss of 21950 on a closing basis.
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