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Below the Quote on Pre-Market Comment by Hardik Matalia, Research Analyst, Choice Broking

The benchmark Sensex and Nifty indices are expected to open flat on Aug 23, following GIFT Nifty trends indicating a gain of +6 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, 24,900 can be an immediate resistance, followed by 24,950 and 25,000.

The charts of Bank Nifty indicate that it may get support at 50,700, followed by 50,500 and 50,300. If the index advances further, 51,100 would be the initial key resistance, followed by 51,300 and 51,400.

The foreign institutional investors (FIIs) bought equities worth Rs 1371 crore on August 22, while domestic institutional investors also bought equities worth Rs 2971 crore on the same day.

INDIAVIX was negative Yesterday down by 2.49% and is currently trading at 13.0000.

Yesterday, global markets closed lower as Treasury yields rose. The Nifty Index continued its positive momentum for a third consecutive session, holding above the 24,700 level, which now acts as immediate support. If the index sustains above this level, it could drive the market toward an all-time high. Traders holding long positions should maintain a trailing stop loss at 24,500 on a closing basis.

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