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 positive on Aug 22, following GIFT Nifty trends indicating a gain of 60 points for the broader index.
Nifty can find support at 24,700 followed by 24,650 and 24,600. On the higher side, 24,850 can be an immediate resistance, followed by 24,900 and 25,000.
The charts of Bank Nifty indicate that it may get support at 50,500, followed by 50,300 and 50,100. If the index advances further, 50,800 would be the initial key resistance, followed by 51,000 and 51,200.
The foreign institutional investors (FIIs) sold equities worth Rs 799 crore on August 21, while domestic institutional investors bought equities worth Rs 3097 crore on the same day.
INDIAVIX was negative yesterday down by 3.53% and is currently trading at 13.3325.
We have seen a strong up move in markets with nifty trading above 24700 levels. Today Nifty can approach its next resistance of 25000 levels. Traders holding long positions are advised to book profits in their long position near the mentioned resistance. Also traders can purchase on dips near 24600 levels with a strict stop loss of 24500 on closing basis
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