Pre market comment Deven Mehata, Research Analyst, Choice Broking
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Below the Quote on Pre market comment Deven Mehata, Research Analyst, Choice Broking
The benchmark Sensex and Nifty indices are expected to open flat to positive on May 28, following
GIFT Nifty trends indicating a gain of 35 points for the broader index.
Nifty can find support at 22,850 followed by 22,800 and 22,700. On the higher side, 23,050 can be an
immediate resistance, followed by 23,100 and 23,150.
The charts of Bank Nifty indicate that it may get support at 49,000, followed by 48,800 and 48,700. If
the index advances, 49,500 would be the initial key resistance, followed by 49,700 and 49,800.
Foreign institutional investors turned net sellers on May 27 as they sold Indian equities worth Rs
541.22 crore. On the other hand, domestic institutional investors bought Rs 922.6 crore worth of
equities on the same day.
INDIAVIX was positive yesterday and closed higher, up by 6.83 percent and is currently trading at
23.1925.
Yesterday, we saw a lot of volatility in Indian markets. Nifty has firm support at 22800 levels. Traders
with long positions should maintain a firm stop loss at 22800 levels. Also traders should consider
profit booking at higher levels near 23100 levels prior to the great event of election outcomes.
Above views are of the author and not of the website kindly read disclaimer
