Pre-market comment Deven Mehta, by Choice Broking
Below the Quote On Pre-market comment by Deven Mehata, Research Analyst, Choice Broking Ltd
The benchmark Sensex and Nifty indices are expected to open flat on SEPT 11, following GIFT Nifty trends indicating a gain of 5 points for the broader index.
Nifty can find support at 25,000 followed by 24,900 and 24,800. On the higher side, 25,150 can be an immediate resistance, followed by 25,250 and 25,300.
The charts of Bank Nifty indicate that it may get support at 51,100, followed by 51,000 and 50,800. If the index advances further, 51,500 would be the initial key resistance, followed by 51,700 and 51,800.
The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 2208 crore on September 10, while domestic institutional investors sold equities worth Rs 275 crore on the same day.
INDIAVIX was negative yesterday down by 6.16% and is currently trading at 13.3600.
Yesterday we witnessed a strong bounce back in Indian markets. US markets faced a volatile session yesterday. Today after a flat opening we can witness some volatile sessions. Traders holding a long position can hold with a trailing stop loss of 24950 on a closing basis. Also traders are advised to book profits near the resistance level of 25250 levels.
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