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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 22, following GIFT Nifty trends indicating a gain of 109 points for the broader index.

After a positive opening, Nifty can find support at 23,300 followed by 23,200 and 23,000. On the higher side, 23,500 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, 50,600 would be the initial key resistance, followed by 50,800 and 51,100.

Foreign institutional investors (FIIs) continued their selling on November 21 as they sold equities of more than Rs 5,300 crore worth, while domestic institutional investors bought equities of Rs 4,200 crore on the same day.

INDIAVIX was positive Yesterday up by 2.09% and is currently trading at 15.99.

Yesterday, the Indian markets opened with a gap-down, followed by strong selling pressure at the start of the session. The markets then traded sideways within a narrow range for the rest of the day. Meanwhile, global markets traded positively, but continued selling by Foreign Institutional Investors (FIIs) remains a key concern for the domestic market. On the downside, the 23,200 level is expected to act as critical support. A break below this level could lead the index lower to the 23,000–22,800 range. Conversely, 23,800 serves as a crucial resistance level, and a sustained close above this mark is essential to reverse the ongoing downtrend. The next resistance is seen at 24,000. In this volatile environment, traders are advised to remain cautious, implement strict stop-loss measures, and avoid holding overnight long positions to effectively manage risk.

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