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Below the Quote on Pre-Market Comment by Hardik Matalia, Derivative Analyst, Choice Broking

The benchmark Sensex and Nifty indices are expected to open positive on Nov 26, following GIFT Nifty trends indicating a gains of 17 points for the broader index.

After a positive opening, Nifty can find support at 24,150 followed by 24,050 and 23,950. On the higher side, 24,300 can be an immediate resistance, followed by 24,450 and 24,550.

The charts of Bank Nifty indicate that it may get support at 52,000 followed by 51,800 and 51,600. If the index advances further, 52,400 would be the initial key resistance, followed by 52,600 and 52,800.

After remaining seller for the last 38 sessions, the Foreign institutional investors (FIIs) turned net buyers on November 25 as they purchased equities of more than Rs 9,900 crore. On the other hand, domestic institutional investors turned net sellers after 13 sessions, as they sold equities of Rs 6,907 crore on the same day.

INDIAVIX was negative Yesterday down by 4.94% and is currently trading at 15.3025.

Yesterday, the Indian markets opened with a strong gap-up, reaching an intraday high of 24,351.55. The Nifty index managed to close above the 24,200 mark after a volatile session. Meanwhile, global markets traded with mixed sentiment, with some indices ending lower while others closed higher. On the downside, the 24,000 level is expected to act as critical support. A break below this level could drag the index toward the 23,800–23,600 range. Conversely, 24,500 serves as a crucial resistance level, and a sustained break above this mark could lead the index to higher levels. In this volatile environment, traders are advised to adopt a buy-on-dips strategy as long as the index holds above the 23,800 mark, with a strict stop-loss at 23,600 on a closing basis to effectively manage risk.

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