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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 be positive on Aug 19, following GIFT Nifty trends indicating a gain of +88 points for the broader index.

After a positive opening, Nifty can find support at 24,500 followed by 24,450 and 24,350. On the higher side, 24,700 can be an immediate resistance, followed by 24,750 and 24,800.

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, 50,800 would be the initial key resistance, followed by 50,900 and 51,100.

The foreign institutional investors (FIIs) turned net buyers on August 16 as they bought equities worth Rs 766 crore, while domestic institutional investors also bought equities worth Rs 2606 crore on the same day.

INDIAVIX was negative on Friday down by 6.69% and is currently trading at 14.4025.

On Friday, global markets closed higher for the second consecutive day. Indian markets are expected to open on a positive note. The Nifty Index has surpassed its resistance level of 24,500, which will now serve as a strong support. On the upside, the markets could potentially move towards new highs. Traders holding long positions should maintain a trailing stop loss at 24,350 on a closing basis.

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