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Below the Quote on Pre-Market Comment by Hardik Matalia, Research Analyst, Choice Broking Ltd

The benchmark Sensex and Nifty indices are expected to open on a flat note on May 27, following GIFT Nifty trends indicating a loss of 04 points for the broader index.

After a flat opening, Nifty can find support at 25,000 followed by 24,900 and 24,800. On the higher side, 25,100 can be an immediate resistance, followed by 25,200 and 25,250.

The charts of Bank Nifty indicate that it may get support at 55,300 followed by 55,000 and 54,700. If the index advances further, 55,800 would be the initial key resistance, followed by 56,000 and 56,200.

Foreign institutional investors (FIIs) bought equities worth Rs 135.98 crore on May 26, while Domestic institutional investors (DIIs) bought equities worth Rs 1,745.72 crore on the same day.

INDIAVIX was positive Yesterday up by 4.30% and is currently trading at 18.0200.

Yesterday, Indian market indices opened with a strong gap-up. Initial strong buying was observed, but the index later traded sideways throughout the day after facing rejection at higher levels. Nevertheless, the Nifty ended the session at the 25,000 mark, surging by 148 points (0.60%). Global markets traded with mixed sentiment. However, Foreign Institutional Investors (FIIs) remained net buyers, reflecting growing confidence in the Indian market. On the downside, immediate support is placed at the 24,900 level, with a stronger support base near 24,800. Buying on dips may be considered as long as the index sustains above 24,500 on a closing basis. A breach below these levels could trigger renewed selling pressure. On the upside, 25,100 acts as the first resistance level, followed by a key hurdle near 25,200. A decisive breakout above this zone is crucial to ignite fresh buying momentum. Given the current market dynamics and global uncertainties, traders are advised to adopt a disciplined approach with strict risk management. It is also prudent to avoid large overnight positions and focus on short-term trading opportunities with tight stop-loss strategies.

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