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

The benchmark Sensex and Nifty indices are expected to open positive on Oct 10, following GIFT Nifty trends indicating a gain of 112 points for the broader index.

After a positive opening, Nifty can find support at 24,950 followed by 24,850 and 24,700. On the higher side, 25,100 can be an immediate resistance, followed by 24,200 and 25,300.

The charts of Bank Nifty indicate that it may get support at 50,800, followed by 50,500 and 50,200. If the index advances further, 51,200 would be the initial key resistance, followed by 51,400 and 51,500.

The foreign institutional investors (FIIs) sold equities worth Rs 4562 crore on October 9, while domestic institutional investors bought equities worth Rs 3,508 crore on the same day.

INDIAVIX was negative Yesterday down by 3.19% and is currently trading at 14.1225.

Yesterday, the Indian market saw buying activity in the first half but was unable to sustain intraday gains, ultimately closing lower below the 25,000 mark. In contrast, global markets ended higher ahead of key inflation data and the upcoming earnings season. Looking ahead, the index may face immediate resistance at 25,100, followed by 25,250. On the downside, if the index breaks below 24,750, it could encounter further selling pressure, potentially pushing it toward the 24,500–24,200 range. Traders are advised to exercise caution, maintain strict stop-loss levels, and avoid holding long positions overnight to manage risks associated with market volatility.

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