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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 weak on May 29, following GIFT Nifty trends indicating a loss of 110 points for the broader index.

Nifty can find support at 22,800 followed by 22,700 and 22,650. On the higher side, 22,950 can be an immediate resistance, followed by 23,000 and 23,100.

The charts of Bank Nifty indicate that it may get support at 49,000, followed by 48,800 and 48,700. If the index advances, 49,300 would be the initial key resistance, followed by 49,400 and 49,600.

Foreign institutional investors remained net buyers on May 28 as they bought Indian equities worth Rs 65.57 crore, while domestic institutional investors continued their buying as they purchased equities worth Rs 3,231.67 crore on the same day.

INDIAVIX was positive yesterday and closed higher, up by 4.32 percent and is currently trading at 24.1950.

Yesterday, Indian markets traded flat during the day, then fell in the last hour and finished near the day's low. Traders with long positions should set a strict stop loss at 22800 on a closing basis. After outperforming for the previous three sessions, the Bank Nifty showed profit booking yesterday but still closed above 49000 levels.

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