IGI Logo

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 19, following GIFT Nifty trends indicating a gain of 60 points for the broader index.

Nifty can find support at 24,700 followed by 24,650 and 24,600. On the higher side, 24,850 can be an immediate resistance, followed by 24,900 and 25,000.

The charts of Bank Nifty indicate that it may get support at 52,500, followed by 52,300 and 52,200. If the index advances further, 52,800 would be the initial key resistance, followed by 53,000 and 53,100.

The foreign institutional investors (FIIs) bought equities worth Rs 5483 crore, while domestic institutional investors sold equities worth Rs 2904 crore, on July 18.

INDIAVIX was positive yesterday up by 2.02% and is currently trading at 14.5100.

The Nifty yesterday closed at the all-time high levels at 24800 levels. We witnessed strong buying by FIIs yesterday. Market has continuously moved higher without any sizable correction. After today’s gap up opening traders holding long positions on Nifty are requested to book Profits near 24850-24900 levels. Market can get volatile on the higher levels before the bigger event of the Budget.

Above views are of the author and not of the website kindly read disclaimer