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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 negative on Feb 28, following GIFT Nifty trends indicating a loss of 157 points for the broader index.

After a negative opening, Nifty can find support at 22,400 followed by 22,300 and 22,200. On the higher side, 22,600 can be an immediate resistance, followed by 22,700 and 22,800.

The charts of Bank Nifty indicate that it may get support at 48,400 followed by 48,200 and 47,800. If the index advances further, 48,900 would be the initial key resistance, followed by 49,200 and 49,500.

The Foreign institutional investors (FIIs) sold equities worth Rs 556 crore on February 27. However, domestic institutional investors (DIIs) bought equities worth Rs 1727 crore, on the same day.

INDIAVIX was negative Yesterday down by 2.97% and is currently trading at 13.3075.

Yesterday, the Indian markets traded sideways throughout the session. After a gap-up opening, the index faced some rejection but remained range-bound, closing near the 22,550 mark. Global markets traded negatively, while concerns persisted as Foreign Institutional Investors (FIIs) continued to be net sellers. On the downside, 22,500 serves as a crucial support level, with a breach below this mark potentially triggering extended selling toward the 22,300–22,000 range. On the upside, immediate resistance is seen at 22,600, followed by a critical hurdle near 22,800. A sustained close above these resistance levels is essential to negate the prevailing bearish sentiment and confirm a bullish reversal. Given the ongoing volatility, traders are advised to exercise caution, implement strict stop-loss strategies, and avoid carrying overnight positions.

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