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Below the Quote on Pre-Market Comment by Mandar Bhojane, Research Analyst, Choice Broking

The benchmark Sensex and Nifty indices are likely to open higher on June 25, following cues from GIFT Nifty, which is trading near 23,566.5 with a gain of 45 points.

On the daily chart, Nifty formed a bullish piercing candlestick pattern with good volume, indicating a bullish reversal from the support level of 23,400. If the index closes above the 23,600 level, it could further rise to 23,800 and 24,000 levels in the upcoming days. On the flip side, if the price breaks the 23,300 level, it could correct further to the 23,000 level.

Bank Nifty on the daily chart shows a good reversal. If the price closes above the 52,000 level, it could further rise to 52,500 and 53,000 in the coming days. Conversely, 51,000 will act as an immediate support level.

Foreign institutional investors (FIIs) extended their selling on June 24 as they sold equities worth Rs 654 crore, and domestic institutional investors also sold equities worth Rs 820 crore on the same day.

The market is expected to remain volatile. Hold your positions with a trailing stop-loss. Any dip will be a buying opportunity as the overall trend remains bullish.

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