Pre-Market Comment by Hardik Matalia, Derivative analyst, Choice Broking Ltd
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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 Sept 27, following GIFT Nifty trends indicating a gains of 44 points for the broader index.
After a positive opening, Nifty can find support at 26,100 followed by 26,000 and 25,900. On the higher side, 26,300 can be an immediate resistance, followed by 26,350 and 26,400.
The charts of Bank Nifty indicate that it may get support at 54,200, followed by 54,000 and 53,800. If the index advances further, 54,500 would be the initial key resistance, followed by 54,700 and 54,800.
The foreign institutional investors (FIIs) turned net buyers as they bought equities worth Rs 629.96 crore on September 26, while domestic institutional investors extended their buying as they bought equities worth Rs 2405 crore on the same day.
INDIAVIX was negative Yesterday down by 5.81% and is currently trading at 12.0025.
Yesterday, the Indian markets surged to a fresh record high of 26,250.90, closing above the 26,200 level. This achievement marked the formation of a strong bullish candle, maintaining upward momentum and investor confidence, reinforcing the market's ongoing bullish trend amid positive sentiment. Additionally, global markets ended on a positive note, trading near higher levels. On the upside, key resistance levels are at 26,300 and 26,350, with a break above potentially driving the market towards 26,500. On the downside, immediate support for the Nifty is at 26,100, followed by 26,000. Traders holding long positions are advised to maintain them, with a trailing stop loss set at 25,900 on a closing basis
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