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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 Dec 26, following GIFT Nifty trends indicating a gains of 35 points for the broader index.

After a positive opening, Nifty can find support at 23,650 followed by 23,500 and 23,400. On the higher side, 23,950 can be an immediate resistance, followed by 24,050 and 24,200.

The charts of Bank Nifty indicate that it may get support at 51,000 followed by 50,700 and 50,400. If the index advances further, 51,500 would be the initial key resistance, followed by 51,800 and 52,000.

Foreign institutional investors (FIIs) sold equities worth Rs 2,454.21 crore on December 24, while domestic institutional investors extended their buying as they bought equities worth Rs 2,819.25 crore on the same day.

INDIAVIX was negative on Tuesday down by 2.53% and is currently trading at 13.1775.

On Tuesday, the Indian markets experienced a slightly volatile session. While some buying activity was observed in the first half of the session, the gains could not be sustained, and the markets ended on a negative note, closing near the 23,700 mark. Global markets exhibited a positive trend, although the US markets were closed due to the Christmas holiday. Foreign Institutional Investors (FIIs) continued their selling spree, reflecting a cautious outlook. On the downside, the 23,500 level remains a critical support. A breach of this level could trigger further declines toward the 23,200–23,000 zone. Conversely, on the upside, the 24,000 level acts as immediate resistance, with 24,200 posing a significant hurdle. A sustained close above 24,200 is necessary to reverse the prevailing bearish trend. Given the volatility, traders are advised to exercise caution, implement strict stop-loss measures, and avoid carrying long positions overnight to manage risk effectively.

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