IGI Logo

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 Aug 27, following GIFT Nifty trends indicating a loss of -18 points for the broader index.

After a flat opening, Nifty can find support at 24,950 followed by 24,850 and 24,800. On the higher side, 25,050 can be an immediate resistance, followed by 25,150 and 25,200.

The charts of Bank Nifty indicate that it may get support at 51,000, followed by 50,800 and 50,700. If the index advances further, 51,300 would be the initial key resistance, followed by 51,500 and 51,600.

The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 483 crore on August 26, while domestic institutional investors also bought equities worth Rs 1870 crore on the same day.

INDIAVIX was positive Yesterday up by 1.79% and is currently trading at 13.7950.

Yesterday, the Indian markets closed on a strong note, with the Nifty ending above the 25,000 mark. The Nifty Index continued its upward momentum, with the intraday high approaching record levels. If the index sustains above 25,000, it could drive the market towards the 25,300 to 25,500 range. On the downside, 24,800 will serve as immediate support. Traders holding long positions should maintain a trailing stop loss at 24,800 on a closing basis.

Above views are of the author and not of the website kindly read disclaimer