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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 negative on June 10, following GIFT Nifty trends indicating a loss of 10 points for the broader index.

Nifty can find support at 23,200 followed by 23,100 and 23,000. On the higher side, 23,400 can be an immediate resistance, followed by 23,500 and 23,600.

The charts of Bank Nifty indicate that it may get support at 49,700, followed by 49,500 and 49,400. If the index advances further, 50,000 would be the initial key resistance, followed by 50,200 and 50,400.

Foreign institutional investors (FIIs) turned net buyers on June 7 as they bought Indian equities worth Rs 4,391.2crore, while domestic institutional investors sold equities worth Rs 1,289.75 crore on the same day.

INDIAVIX was flat to positive on Friday by 0.49% and is currently trading at 16.8825.

On Friday we witnessed strong buying by FII and Nifty has almost reached towards its all-time high levels. Traders holding long positions should hold with a trailing stop loss of 23150 on a closing basis. Traders are advised to buy on dips for the target of 23500-23700 levels with a mentioned stop loss.

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