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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 negative on Sept 30, following GIFT Nifty trends indicating a loss of 63 points for the broader index.

After a negative opening, Nifty can find support at 26,050 followed by 26,000 and 25,900. On the higher side, 26,250 can be an immediate resistance, followed by 26,300 and 26,350.

The charts of Bank Nifty indicate that it may get support at 53,500, followed by 53,300 and 53,100. If the index advances further, 53,900 would be the initial key resistance, followed by 54,100 and 54,300.

The foreign institutional investors (FIIs) turned net sellers as they sold equities worth Rs 1,209 crore on September 27, while domestic institutional investors extended their buying as they bought equities worth Rs 6,886 crore on the same day.

INDIAVIX was negative on Friday down by 0.33% and is currently trading at 11.9625.

On Friday, Indian markets surged to a fresh record high of 26,277.35 but failed to sustain the gains, ending lower and breaking their winning streak. The indices closed below the 26,200 mark, reflecting profit booking and resistance at higher levels. This pullback signaled a brief pause in the bullish trend. Global markets traded with mixed sentiment, with some closing higher while others ended flat. Looking ahead, key resistance levels are at 26,250 and 26,300, with a breakout above these levels potentially pushing the market toward 26,500. On the downside, immediate support for the Nifty is at 26,050, followed by 26,000. Traders holding long positions should maintain them with a trailing stop loss set at 25,900 on a closing basis.

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