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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 12, following GIFT Nifty trends indicating a loss of -25 points for the broader index.

After a flat opening, Nifty can find support at 24,200 followed by 24,150 and 24,050. On the higher side, 24,500 can be an immediate resistance, followed by 24,550 and 24,600.

The charts of Bank Nifty indicate that it may get support at 50,200, followed by 50,000 and 49,800. If the index advances further, 50,600 would be the initial key resistance, followed by 50,700 and 50,800.

The foreign institutional investors (FIIs) turned net buyers as they bought equities worth Rs 406 crore on August 9, while domestic institutional investors bought equities worth Rs 3979 crore on the same day.

INDIAVIX was negative on Friday down by 7.63% and is currently trading at 15.3350.

On Friday, the Indian markets witnessed a bounce back and closed positive up by a percent. Today, the market is expected to open on a flat note. 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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