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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 to positive on July 11, following GIFT Nifty trends indicating a gain of 40 points for the broader index.

Nifty can find support at 24,300 followed by 24,200 and 24,150. On the higher side, 24,400 can be an immediate resistance, followed by 24,450 and 24,500.

The charts of Bank Nifty indicate that it may get support at 52,000, followed by 51,800 and 51,700. 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 buying as they bought equities worth Rs 584 crore on July 10, while domestic institutional investors also bought equities worth Rs 1082.4 crore on the same day.

INDIAVIX was positive yesterday up by 1.07% and is currently trading at 14.4325.

Yesterday we saw sharp profit booking in the markets where Nifty made a low of 24141 levels but also Nifty bounced back and managed to close above 24300 levels. Now on the higher side 24400-24450 will act as a resistance. Once Nifty sustains above 24400 levels we can witness a smart up move near 24700 levels in short to medium term.

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