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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 19, following GIFT Nifty trends indicating a gain of 62 points for the broader index.

After a positive opening, Nifty can find support at 23,350 followed by 23,250 and 23,200. On the higher side, 23,550 can be an immediate resistance, followed by 23,650 and 23,800.

The charts of Bank Nifty indicate that it may get support at 50,200 followed by 50,000 and 49,900. If the index advances further, 50,500 would be the initial key resistance, followed by 50,800 and 51,000.

Foreign institutional investors (FIIs) extended their selling for the 11th straight session in this month as they sold equities of more than Rs 1,400 crore worth on November 18, while domestic institutional investors bought equities of Rs 2,330 crore on the same day.

INDIAVIX was positive Yesterday up by 2.66% and is currently trading at 15.1675.

Yesterday, the Indian markets experienced significant volatility, with selling pressure dragging the Nifty index near the 23,350 mark. The indices extended their decline for the seventh consecutive session, ultimately closing near 23,450. Global markets exhibited mixed sentiment, while persistent selling by Foreign Institutional Investors (FIIs) continued to weigh on domestic equities. On the downside, the 23,350 level is expected to act as a key support. A breach of this level could potentially push the index further down to the 23,000–22,800 range. Looking ahead, 23,800 is a crucial resistance level. A sustained close above this threshold would be essential to reverse the current downtrend, with the next resistance emerging at 24,000. In this volatile environment, traders are advised to exercise caution, adopt strict stop-loss strategies, and avoid holding overnight long positions to effectively manage risk.

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