Pre-Market Comment by Deven Mehata , Research Analyst, Choice Broking
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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 June 19, following GIFT Nifty trends indicating a gain of 90 points for the broader index.
After a gap up Opening Nifty can find support at 23,500 followed by 23,450 and 23,400. 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 50,200, followed by 50,000 and 49,900. If the index advances further, 50,600 would be the initial key resistance, followed by 50,750 and 50,900.
The Foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 2569 crore on June 18, while domestic institutional investors also bought equities worth Rs 1555 crore on the same day.
INDIAVIX was flat to positive yesterday by 1.11% and is currently trading at 12.9650.
We have witnessed nifty moving higher and making fresh all-time high levels. Even today Nifty is set to make a fresh all-time high with a gap backed by global markets. Traders holding a long position can hold with a trailing stop loss of 23400 on a closing basis.
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