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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 18, following GIFT Nifty trends indicating a gain of 120 points for the broader index.

After a gap up Opening Nifty can find support at 23,400 followed by 23,300 and 23,200. On the higher side, 23,550 can be an immediate resistance, followed by 23,650 and 23,700.

The charts of Bank Nifty indicate that it may get support at 49,800, followed by 49,700 and 49,500. If the index advances further, 50,200 would be the initial key resistance, followed by 50,350 and 50,500.

The Foreign institutional investors (FIIs) turned net buyers on June 14 as they bought equities worth Rs 2175 crore, while domestic institutional investors also bought equities worth Rs 655 crore on the same day.

INDIAVIX was negative on Friday by 4.93% and is currently trading at 12.8225.

We have seen a strong up move in the Indian markets on Friday with Nifty closing at all-time high levels. Bank Nifty also managed to close above 50000 levels which indicate positive signals for the markets. Traders can hold with a trailing stop loss of 23300 on a closing basis.

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