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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 negative on Dec 13, following GIFT Nifty trends indicating a loss of 94 points for the broader index.

After a negative opening, Nifty can find support at 24,400 followed by 24,300 and 24,200. On the higher side, 24,700 can be an immediate resistance, followed by 24,850 and 24,950.

The charts of Bank Nifty indicate that it may get support at 53,000 followed by 52,800 and 52,500. If the index advances further, 53,500 would be the initial key resistance, followed by 53,700 and 54,000.

Foreign institutional investors (FIIs) extended their selling as they sold equities worth Rs 3,560 crore on December 12, while domestic institutional investors bought equities worth Rs 2,646.65 crore on the same day.

INDIAVIX was negative Yesterday down by 0.58% and is currently trading at 13.1900.

Yesterday, the Indian markets saw significant volatility, with the Nifty index closing in the red near the 24,550 mark. Weak global market trends added to the cautious sentiment, while continued selling by Foreign Institutional Investors (FIIs) exerted further pressure and kept the overall sentiment muted. Looking ahead, the 24,700 level is likely to act as a key resistance, followed by a stronger hurdle at 24,850. A decisive breakout above these levels could open the door for further upside. On the downside, immediate support is placed at 24,400, with the next critical level at 24,200. Traders are advised to adopt a buy-on-dips strategy as long as the index holds above these support levels. To manage risk effectively, maintaining a strict stop-loss at 24,000 on a closing basis is recommended.

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