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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 to positive on Aug 14, following GIFT Nifty trends indicating a loss of +33 points for the broader index.

After a flat to positive opening, Nifty can find support at 24,050 followed by 24,100 and 23,950. On the higher side, 24,300 can be an immediate resistance, followed by 24,400 and 24,450.

The charts of Bank Nifty indicate that it may get support at 49,700, followed by 49,600 and 49,500. If the index advances further, 50,200 would be the initial key resistance, followed by 50,300 and 50,400.

The foreign institutional investors (FIIs) extended their selling as they sold equities worth Rs 2107 crore on August 13, while domestic institutional investors bought equities worth Rs 1239 crore on the same day.

INDIAVIX was positive yesterday up by 1.89% and is currently trading at 16.1675.

Yesterday, Indian markets ended lower for the second consecutive day, with selling pressure from FIIs observed over the past two days. The Nifty index is facing resistance near the 24,400 and 24,500 levels. On the downside, the Nifty has strong support at the 24,000 level. Traders holding long positions should maintain a trailing stop loss at 24,000 on a closing basis.

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