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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 negative on Oct 16, following GIFT Nifty trends indicating a loss of 75 points for the broader index.

After a negative opening, Nifty can find support at 24,900 followed by 24,800 and 24,700. On the higher side, 25,100 can be an immediate resistance, followed by 25,150 and 25,250.

The charts of Bank Nifty indicate that it may get support at 51,700, followed by 51,400 and 51,100. If the index advances further, 52,000 would be the initial key resistance, followed by 52,200 and 52,300.

The foreign institutional investors (FIIs) sold equities worth Rs 1748 crore on October 15, while domestic institutional investors bought equities worth Rs 1654 crore on the same day.

INDIAVIX was positive Yesterday up by 0.06% and is currently trading at 13.0025.

Yesterday, the Indian market opened with a gap-up but struggled to sustain its gains, eventually closing on a negative note near the 25,050 mark, influenced by continued FII selling. Global markets also ended negatively. Looking ahead, the index faces immediate resistance at 25,100, followed by 25,250. On the downside, if the index falls below 24,900, it could experience increased selling pressure, potentially pushing it toward the 24,700–24,500 range. Traders are advised to remain cautious, implement strict stop-loss levels, and avoid holding long positions overnight to mitigate risks in this volatile market.

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