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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 on a negative note on May 30, following GIFT Nifty trends indicating a loss of 90 points for the broader index.

Nifty can find support at 22,650 followed by 22,600 and 22,500. On the higher side, 22,800 can be an immediate resistance, followed by 22,850 and 22,900.

The charts of Bank Nifty indicate that it may get support at 48,300, followed by 48,100 and 48,000. If the index advances, 48,600 would be the initial key resistance, followed by 48,800 and 48,900.

On May 29, the Foreign institutional investors sold Indian equities worth Rs 5,841.84 crore, while domestic institutional investors bought equities worth Rs 5,233.79 crore on the same day.

INDIAVIX was flat yesterday and is currently trading at 24.1750.

Yesterday, we saw heavy selling from FIIs. The global market was also down yesterday, which will lead to a gap down opening in Indian markets. On the downside, Nifty finds significant support at 22500 levels. If the Nifty breaks 22500, we might expect more declines on the monthly expiry.

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