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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 Aug 6, following GIFT Nifty trends indicating a gain of 203 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, 24,300 can be an immediate resistance, followed by 24,400 and 24,500.

The charts of Bank Nifty indicate that it may get support at 50,000, followed by 49,800 and 49,700. If the index advances further, 50,500 would be the initial key resistance, followed by 50,600 and 50,800.

The foreign institutional investors (FIIs) sold equities worth Rs 10078 crore on August 5, while domestic institutional investors bought equities worth Rs 9,155 crore on the same day.

INDIAVIX was positive yesterday up by 42.23% and is currently trading at 20.3675.

We have seen high volatility in global markets all over the world. Even Indian markets are witnessing volatility. Traders are advised to keep strict stop loss and should also keep booking profits in their trading positions. Investors can invest in markets for long term in any dips near 23800-24000 levels.

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