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 flat to positive on June 14, following GIFT Nifty trends indicating a gain of 21 points for the broader index.
Nifty can find support at 23,300 followed by 23,200 and 23,150. On the higher side, 23,450 can be an immediate resistance, followed by 23,500 and 23,600.
The charts of Bank Nifty indicate that it may get support at 49,600, followed by 49,500 and 49,300. If the index advances further, 50,000 would be the initial key resistance, followed by 50,100 and 50,300.
The Foreign institutional investors (FIIs) sold equities worth Rs 3,033 crore on June 13, while domestic institutional investors also sold equities worth Rs 553 crore on the same day.
INDIAVIX was negative yesterday by 6.26% and is currently trading at 13.4875.
From the last 4 trading sessions we have seen a gap up opening in the Nifty and a sideways move in a small range for the rest of the day. Traders holding long positions should hold with a stop loss of 23200 on a closing basis. Fresh entries can be made on dips near 23250-23300 with a mentioned stop loss of 23200 for the targets of 23700 levels.
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