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18-09-2024 09:37 AM | Source: Choice Broking Ltd
Pre-Market Comment by Hardik Matalia , Research Analyst, Choice Broking

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The benchmark Sensex and Nifty indices are expected to open flat to positive on Sept 18, following GIFT Nifty trends indicating a gains of 20 points for the broader index.
After a flat to positive opening, Nifty can find support at 25,350 followed by 25,300 and 25,250. 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 52,000, followed by 51,800 and 51,700. If the index advances further, 52,300 would be the initial key resistance, followed by 52,500 and 52,600.
The foreign institutional investors (FIIs) bought equities worth Rs 482 crore on September 17, while domestic institutional investors also bought equities worth Rs 874 crore on the same day.
INDIAVIX was positive Yesterday up by 1.04% and is currently trading at 12.5900.
Yesterday, Indian markets closed on a positive note for the second consecutive day, ending above 25,400, which signals growing strength. Global markets are currently trading with mixed sentiment ahead of the Federal Reserve's policy announcement. Immediate support is seen at 25,300, followed by 25,200. On the upside, 25,500 serves as a key resistance level, and a breakout above this could lead to a bullish trend, with targets in the 25,650-25,800 range. Traders holding long positions are advised to maintain them with a trailing stop loss at 25,200 on a closing basis.

 

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