Pre-Market Comment by Hardik Matalia , Research Analyst, Choice Broking
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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 on Aug 21, following GIFT Nifty trends indicating a loss of -11 points for the broader index.
After a flat opening, Nifty can find support at 24,600 followed by 24,550 and 24,500. On the higher side, 24,800 can be an immediate resistance, followed by 24,850 and 24,900.
The charts of Bank Nifty indicate that it may get support at 50,500, followed by 50,300 and 50,200. If the index advances further, 51,000 would be the initial key resistance, followed by 51,100 and 51,300.
The foreign institutional investors (FIIs) sold equities worth Rs 1457 crore on August 20, while domestic institutional investors bought equities worth Rs 2252 crore on the same day.
INDIAVIX was negative Yesterday down by 3.46% and is currently trading at 13.8200.
Yesterday, the global market experienced profit booking from higher levels and closed slightly lower after eight consecutive positive sessions. The Nifty Index surpassed its resistance level of 24,700 during intraday trading. Sustaining above this level could drive the market toward an all-time high. On the downside, 24,550 will serve as immediate support. Traders holding long positions should maintain a trailing stop loss at 24,400 on a closing basis.
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