Pre-Market Comment by Hardik Matalia, Derivative analyst, Choice Broking Ltd
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 26, following GIFT Nifty trends indicating a gain of 68 points for the broader index.
After a positive opening, Nifty can find support at 25,900 followed by 25,850 and 25,750. On the higher side, 26,050 can be an immediate resistance, followed by 26,100 and 26,150.
The charts of Bank Nifty indicate that it may get support at 54,000, followed by 53,800 and 53,700. 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) extended their selling as they sold equities worth Rs 973 crore on September 25, while domestic institutional investors extended their buying as they further bought equities worth Rs 1778 crore on the same day.
INDIAVIX was negative Yesterday down by 4.85% and is currently trading at 12.7425.
Yesterday, the Indian markets reached a new record high of 26,032.80, closing above the 26,000 level for the first time. This achievement marked the fifth consecutive day of gains, maintaining upward momentum and investor confidence. In contrast, global markets ended lower, pulling back from recent record highs. On the upside, key resistance levels are at 26,050 and 26,100, with a break above potentially driving the market towards 26,250. On the downside, immediate support for the Nifty is at 25,900, followed by 25,800. Traders holding long positions are advised to maintain them, with a trailing stop loss set at 25,750 on a closing basis.
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Market Outlook: US bond yields, dollar index, FII data key triggers for next week