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Below the Quote on Pre-Market Comment by Hardik Matalia, Derivative Analyst, Choice Broking 

Indian equity markets are expected to open on a positive note today, as indicated by GIFT Nifty, which was trading around 22,384 in early trades, reflecting a modest gain of 114 points. This suggests a cautious market sentiment, primarily influenced by global cues and the absence of strong domestic triggers. Investors will closely monitor global market trends, crude
oil prices, and institutional flows to gauge further direction. 

On the daily chart, Nifty has formed a strong bearish candlestick, signalling negative sentiment. The index may face key resistance at
22,300, and a breakout above this level could drive further gains towards 22,530 and 22,670. On the downside, immediate support is placed at 21,929, a crucial level for monthly trends. A breakdown below this mark could push the index lower towards 21,718, reinforcing a cautious outlook as Nifty struggles to maintain support at critical levels. 

Bank Nifty witnessed a recovery of 250 points after an initial decline of nearly 645 points. However, further confirmation is required to determine its next move. A sustained move below the critical level of 48,200 could test immediate support at 48,000 and 47,850, while a reversal from these levels may offer potential buying opportunities. On the upside, resistance is observed at 48,500, and a close above this level could trigger a rally towards 48,700. 

Institutional flows remain a key factor in shaping market sentiment. On March 2, Foreign Institutional Investors (FIIs) sold equities worth Rs.11,639 crore, while Domestic Institutional Investors (DIIs) bought equities worth Rs.12,308.6 crore. These transactions will be closely monitored for their impact on market direction. Overall, traders are advised to exercise caution and wait for confirmation of price action at key levels before initiating fresh positions.

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