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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 28, following GIFT Nifty trends indicating a gain of 63 points for the broader index.

After a positive opening, Nifty can find support at 24,150 followed by 24,050 and 23,900. On the higher side, 24,300 can be an immediate resistance, followed by 24,400 and 24,500.

The charts of Bank Nifty indicate that it may get support at 50,600, followed by 50,400 and 50,200. If the index advances further, 51,000 would be the initial key resistance, followed by 51,200 and 51,400.

The foreign institutional investors (FIIs) sold equities worth Rs 3,036 crore on October 25, while domestic institutional investors bought equities worth Rs 4159 crore on the same day.

INDIAVIX was positive on Friday up by 4.74% and is currently trading at 14.6325.

On Friday, the Indian markets experienced significant volatility, opening flat but quickly encountering intense selling pressure that drove the index below the crucial 24,100 support level. Buying at lower levels in the closing session provided some relief, helping the market recover partially and close near the 24,200 mark. Global markets showed mixed trends, and continued selling by Foreign Institutional Investors (FIIs) remains a considerable concern. Looking ahead, a "sell on rise" strategy is recommended, with the 24,400–24,600 range identified as a potential selling zone, provided the index stays below 24,700. On the downside, the 24,000–23,800 range is viewed as a critical support level. Traders are advised to exercise caution, apply strict stop-loss measures, and avoid holding long positions overnight to manage risk in this volatile environment.

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