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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 flat on Oct 22, following GIFT Nifty trends indicating a gains of 19 points for the broader index.

After a flat opening, Nifty can find support at 24,700 followed by 24,650 and 24,550. On the higher side, 24,850 can be an immediate resistance, followed by 24,950 and 25,000.

The charts of Bank Nifty indicate that it may get support at 51,800, followed by 51,700 and 51,500. If the index advances further, 52,100 would be the initial key resistance, followed by 52,300 and 52,400.

The foreign institutional investors (FIIs) extended their selling as they sold equities worth Rs 2,261 crore on October 21, while domestic institutional investors bought equities worth Rs 3,225 crore on the same day.

INDIAVIX was positive Yesterday up by 5.56% and is currently trading at 13.7625.

Yesterday, the Indian markets opened with a gap-up but failed to sustain the gains, ultimately closing on a negative note below the 24,800 level. There was broad-based selling across all sectors, except for the Auto sector, which managed to hold on to its gains. Global markets also closed lower, and persistent selling by Foreign Institutional Investors (FIIs) continues to be a concern. Looking ahead, a "sell on rise" strategy is recommended, with the 24,950–25,100 range considered a potential selling zone as long as the index stays below 25,200. On the downside, the 24,700 level serves as critical support, and a sustained break below this level could trigger further selling, potentially driving the market toward the 24,500–24,200 range. Traders are advised to remain cautious, stick to strict stop-loss levels, and avoid holding long positions overnight to mitigate risk in this volatile environment

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