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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 flat on Oct 11, following GIFT Nifty trends indicating a loss of 14 points for the broader index.

After a flat opening, Nifty can find support at 24,950 followed by 24,850 and 24,700. On the higher side, 25,050 can be an immediate resistance, followed by 24,150 and 25,250.

The charts of Bank Nifty indicate that it may get support at 51,200, followed by 51,000 and 50,700. If the index advances further, 51,700 would be the initial key resistance, followed by 51,900 and 52,200.

The foreign institutional investors (FIIs) extended their selling on October 10 as they sold equities worth Rs 4,926 crore, on the other hand, domestic institutional investors also extended their buying as they bought equities worth Rs 3,878 crore on the same day.

INDIAVIX was negative Yesterday down by 4.44% and is currently trading at 13.4950.

Yesterday, the Indian market faced selling pressure at higher levels for the second consecutive day, closing below the 25,000 mark. Global markets also ended lower, as investors focused on higher-than-expected inflation and unemployment figures. Looking ahead, the index may face immediate resistance at 25,100, followed by 25,250. On the downside, if the index falls below 24,750, it could see further selling pressure, potentially driving it toward the 24,500–24,200 range. Traders are advised to remain cautious, maintain strict stop-loss levels, and avoid holding long positions overnight to manage risks in this volatile market environment.

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