Pre-Market Comment by Hardik Matalia , Research Analyst, Choice Broking
Below the Quote on Pre-Market Comment by Hardik Matalia , Research Analyst, Choice Broking
The benchmark Sensex and Nifty indices are expected to open negative on Oct 04, following GIFT Nifty trends indicating a loss of 48 points for the broader index.
After a negative opening, Nifty can find support at 25,150 followed by 25,000 and 24,900. On the higher side, 25,450 can be an immediate resistance, followed by 25,550 and 25,650.
The charts of Bank Nifty indicate that it may get support at 51,600, followed by 51,500 and 51,300. If the index advances further, 52,000 would be the initial key resistance, followed by 52,200 and 52,400.
The foreign institutional investors (FIIs) sold equities worth Rs 15,243 crore on October 3, while domestic institutional investors bought equities worth Rs 12,914 crore on the same day.
INDIAVIX was positive Yesterday up by 9.86% and is currently trading at 13.1700.
Yesterday, the Indian markets experienced a volatile trading session, with consistent selling pressure dragging the indices lower for the fourth consecutive day. The benchmarks closed near the critical 25,250 mark, reflecting cautious investor sentiment amid rising geopolitical tensions between Israel and Iran, compounded by global economic uncertainties. Global markets showed mixed sentiment, with some closing lower while others remained flat. Looking ahead, key resistance levels are identified at 25,550 and 25,650. For the market to sustain a bullish outlook, it must hold above the 25,750 level. On the downside, immediate support is at 25,150, followed by 25,000. A break below these levels could trigger additional selling pressure towards the 24,750 mark. Traders are advised to be cautious and maintain strict stop-loss levels. Additionally, it is recommended to avoid carrying any long positions overnight to mitigate potential risks from market volatility.
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