Pre-Market Comment by Deven Mehata , Research Analyst, Choice Broking
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 on June 20, following GIFT Nifty trends indicating a gain of 20 points for the broader index.
Nifty can find support at 23,450 followed by 23,400 and 23,300. On the higher side, 23,650 can be an immediate resistance, followed by 23,700 and 23,800.
The charts of Bank Nifty indicate that it may get support at 51,100, followed by 50,900 and 50,800. If the index advances further, 51,600 would be the initial key resistance, followed by 51,800 and 52,000.
The Foreign institutional investors (FIIs) bought equities worth Rs 7,908.35 crore on June 19, while domestic institutional investors also purchased equities worth Rs 7,107.80 crore on the same day.
INDIAVIX was positive yesterday by 5.77% and is currently trading at 13.7125.
Yesterday we saw a strong up move in the bank nifty index. The Nifty was sideways but closed slight negative. Traders can hold the long position with a stop loss of 23400 on a closing basis. Fresh long positions can be entered on dips with the mentioned stop loss on a closing basis.
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