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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 positive on Aug 9, following GIFT Nifty trends indicating a gain of 260 points for the broader index.

After a gap up opening, Nifty can find support at 24,150 followed by 24,100 and 24,000. On the higher side, 24,400 can be an immediate resistance, followed by 24,450 and 24,500.

The charts of Bank Nifty indicate that it may get support at 50,100, followed by 50,000 and 49,800. If the index advances further, 50,400 would be the initial key resistance, followed by 50,500 and 50,700.

The foreign institutional investors (FIIs) sold equities worth Rs 2626 crore on August 8, while domestic institutional investors bought equities worth Rs 577 crore on the same day.

INDIAVIX was positive yesterday up by 2.67% and is currently trading at 16.6025.

Yesterday, the global market witnessed a jump after jobless claims fell more than expected. Indian markets are expected to open positive today. Traders holding long positions should hold with the strict stop loss of 24200 on a closing basis. If Nifty manages to hold above 24400 it can further lead towards 24550-24650 levels.

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