Pre market comment Deven Mehata, Research Analyst, Choice Broking
Below the Quote on Pre market comment Deven Mehata, Research Analyst, Choice Broking
The benchmark Sensex and Nifty indices are expected to open higher on June 5, following GIFT Nifty trends indicating a gain of 95.5 points (0.44 percent) for the broader index.
Nifty can find support at 21,800 followed by 21,700 and 21,500. On the higher side, 22,000 can be an immediate resistance, followed by 22,150 and 22,200.
The charts of Bank Nifty indicate that it may get support at 46,700, followed by 46,500 and 46,300. If the index advances further, 47,300 would be the initial key resistance, followed by 47,500 and 47,700.
A huge selling was seen from Foreign institutional investors (FIIs) on June 4 as they sold Indian equities worth Rs 12,436.22 crore , while domestic institutional investors also sold equities worth Rs 3,218.98 crore on the same day.
INDIAVIX was positive yesterday by 27.75% yesterday and is currently trading at 26.7475.
Yesterday we witnessed huge volatility in markets on the day of election results. FII’s has sold in high quantities as the election results were not as per the exit polls released on Saturday. Traders should trade with strict stop loss as we can witness high volatility in the markets.
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