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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 Mar 27, following GIFT Nifty trends indicating a loss of 5 points for the broader index.

After a flat opening, Nifty can find support at 23,400 followed by 23,300 and 23,200. On the higher side, 23,550 can be an immediate resistance, followed by 23,650 and 23,800.

The charts of Bank Nifty indicate that it may get support at 51,000 followed by 50,700 and 50,400. If the index advances further, 51,400 would be the initial key resistance, followed by 51,700 and 52,000.

The Foreign institutional investors (FIIs) extended their buying on the fifth day on March 26 as they purchased equities worth Rs 2240 crore, while Domestic institutional investors (DIIs) extended their selling on the second day as they sold equities of Rs 696 crore, on the same day.

INDIAVIX was negative Yesterday down by 1.21% and is currently trading at 13.4700.

Yesterday, the Indian markets witnessed strong selling pressure, dragging the Nifty index lower from the start of the session. The index closed below the 23,500 mark, raising concerns among investors. While global markets traded with mixed sentiment, Foreign Institutional Investors (FIIs) extended their buying, adding confidence to the market. On the downside, 23,300 serves as immediate support, and holding above this level would reinforce the ongoing bullish sentiment. A breakout above 23,800 could open the door for further gains toward the critical resistance at 24,000. A sustained close above these levels would confirm a stronger bullish trend, potentially leading to higher levels. Given the prevailing momentum, traders should maintain a disciplined approach with proper risk management while capitalizing on opportunities in the strengthening market

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