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 positive on Sept 13, following GIFT Nifty trends indicating a gains of 53 points for the broader index.

After a gap up opening, Nifty can find support at 25,300 followed by 25,250 and 25,200. On the higher side, 25,500 can be an immediate resistance, followed by 25,550 and 25,600.

The charts of Bank Nifty indicate that it may get support at 51,500, followed by 51,300 and 51,100. If the index advances further, 52,000 would be the initial key resistance, followed by 52,200 and 52,300.

The foreign institutional investors (FIIs) bought equities worth Rs 7,695 crore on September 12, while domestic institutional investors also bought equities worth Rs 1,800 crore on the same day.

INDIAVIX was negative Yesterday down by 3.27% and is currently trading at 13.1825.

Yesterday, the Indian markets reached a new all-time high of 25,433.35, closing near those levels, indicating strong momentum. Global markets also ended higher, strengthened by recent inflation data that reinforced expectations for a potential rate cut by the Federal Reserve. On the downside, immediate support would be at 25,300 followed by 25200. Conversely, 25,500 will act as a key resistance level, and a breakout above this could lead the market toward a bullish trajectory targeting the 25,650-25,800 range. Traders holding long positions are advised to maintain them with a trailing stop loss at 25,000 on a closing basis while adding on dips remains a prudent strategy.

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