Pre-market comment by Deven Mehata , Choice Broking
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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 positive on July 03, following GIFT Nifty trends indicating a gain of 135 points for the broader index.
After a gap up opening Nifty can find support at 24,100 followed by 24,000 and 23,950. On the higher side, 24,250 can be an immediate resistance, followed by 24,300 and 24,400.
The charts of Bank Nifty indicate that it may get support at 52,100, 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 selling for the second day, selling equities worth Rs 2,000 crore on July 2, while domestic institutional investors continued bought equities worth Rs 648 crore.
INDIAVIX was flat to negative yesterday down by 1.37% and is currently trading at 13.6400.
HDFC Bank shares will be in the spotlight today, as the company's weightage in the MSCI index is expected to rise as FIIs have greater room to buy stock. This will help the index rise higher. Traders holding long positions in the index can maintain a trailing stop loss of 23950 on a closing basis.
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