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

The benchmark Sensex and Nifty indices are expected to open negative on Feb 20, following GIFT Nifty trends indicating a loss of 57 points for the broader index.

After a negative opening, Nifty can find support at 22,850 followed by 22,800 and 22,700. On the higher side, 23,000 can be an immediate resistance, followed by 23,100 and 23,200.

The charts of Bank Nifty indicate that it may get support at 49,400 followed by 49,100 and 48,800. If the index advances further, 49,700 would be the initial key resistance, followed by 50,000 and 50,300.

The Foreign institutional investors (FIIs) sold equities worth Rs 1,881 crore on February 19, while domestic institutional investors (DIIs) bought equities worth Rs 1,957 crore.

INDIAVIX was negative Yesterday down by 1.56% and is currently trading at 15.4200.

Yesterday, the Indian markets experienced high volatility. Initially, strong buying was observed, but selling at higher levels dragged the Nifty index close to below 22,950. Global markets traded with mixed sentiment, and concerns persist as Foreign Institutional Investors (FIIs) remained net sellers. On the downside, 22,800 serves as a crucial support level, and a breach below this mark could trigger extended selling toward the 22,700–22,500 range. On the upside, immediate resistance is seen at 23,000, followed by a critical hurdle near 23,200. A sustained close above these resistance levels is essential to negate the prevailing bearish sentiment and confirm a bullish reversal. Given the ongoing volatility, traders are advised to exercise caution, implement strict stop-loss strategies, and avoid carrying overnight positions.

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