25-09-2024 09:17 AM | Source: Choice Broking
Pre-Market Comment by Hardik Matalia, Derivative Analyst, Choice Broking Ltd

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The benchmark Sensex and Nifty indices are expected to flat to negative on Sept 25, following GIFT Nifty trends indicating a loss of 20 points for the broader index.

After a flat to negative opening, Nifty can find support at 25,850 followed by 25,800 and 25,750. On the higher side, 26,000 can be an immediate resistance, followed by 26,050 and 26,100.

The charts of Bank Nifty indicate that it may get support at 53,800, followed by 53,700 and 53,500. If the index advances further, 54,200 would be the initial key resistance, followed by 54,300 and 54,500.

The foreign institutional investors (FIIs) sold equities worth Rs 2784 crore on September 24, while domestic institutional investors extended their buying as they bought equities worth Rs 3868 crore on the same day.

INDIAVIX was negative Yesterday down by 2.85% and is currently trading at 13.3925.

Yesterday, the Indian markets reached a new record high of 26,011.55 but failed to sustain those levels, closing flat after a volatile session. Global markets are indicating a positive trend, with higher closing levels. On the upside, the key resistance levels are at 26,000 and 26,100, and a break above these could push the market towards 26,250. On the downside, immediate support for the Nifty is seen at 25,800, followed by 25,750. Traders holding long positions are advised to maintain them, with a trailing stop loss set at 25,700 on a closing basis.

 

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