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Below the Quote on Pre-Market Comment by Hardik Matalia, Derivative Analyst, Choice Broking

The benchmark Sensex and Nifty indices are expected to open negative on Sept 06, following GIFT Nifty trends indicating a loss of -60 points for the broader index.

After a gap down opening, Nifty can find support at 25,050 followed by 25,000 and 24950. On the higher side, 25,250 can be an immediate resistance, followed by 25,300 and 25,350.

The charts of Bank Nifty indicate that it may get support at 51,200, followed by 51,100 and 51,000. If the index advances further, 51,600 would be the initial key resistance, followed by 51,800 and 52,000.

The foreign institutional investors (FIIs) turned net sellers on September 5 as they sold equities worth Rs 688 crore, while domestic institutional investors bought equities worth Rs 2970 crore on the same day.

INDIAVIX was negative Yesterday down by 1.18% and is currently trading at 14.2075.

Yesterday, the Indian markets traded sideways and ended on a negative note, closing below 25,150, in line with global trends. Global markets remained tense ahead of the nonfarm payrolls data and anticipating Fed rate cuts. On the upside, the Nifty Index needs to sustain above 25,330 to move towards the 25,450-25,500 range. On the downside, strong support is expected around the 25,000 level. Traders holding long positions are advised to maintain a trailing stop loss at 24,950 on a closing basis for effective risk management.

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