Pre-Market Comment by Deven Mehata , Derivative Analyst, Choice Broking
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Below the Quote on Pre-Market Comment by Deven Mehata , Derivative Analyst, Choice Broking
The benchmark Sensex and Nifty indices are expected to open Positive on SEPT 16, following GIFT Nifty trends indicating a gain of 60 points for the broader index.
After a gap up opening Nifty can find support at 25,300 followed by 25,200 and 25,150. On the higher side, 25,450 can be an immediate resistance, followed by 25,500 and 25,600.
The charts of Bank Nifty indicate that it may get support at 51,700, followed by 51,500 and 51,400. If the index advances further, 52,100 would be the initial key resistance, followed by 52,300 and 52,500.
The foreign institutional investors (FIIs) bought equities worth Rs 2364 crore on September 13, while domestic institutional investors also bought equities worth Rs 2532 crore on the same day.
INDIAVIX was negative on Friday down by 4.80% and is currently trading at 12.5500.
We have seen strong move in US markets on Friday and hence we can witness gap up opening today. Traders holding long position can hold with a trailing stop loss of 25300 on closing basis. For fresh trades, traders can make a long position on dips for the target of 25500 levels.
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