Quote on Pre-Market Comment by Hardik Matalia , Research Analyst, Choice Broking
Below the Quote on Pre-Market Comment by Hardik Matalia , Research Analyst, Choice Broking
The benchmark Sensex and Nifty indices are expected to open positive on Sept 05, following GIFT Nifty trends indicating a gain of +113 points for the broader index.
After a gap up opening, Nifty can find support at 25,150 followed by 25,050 and 25,000. On the higher side, 25,350 can be an immediate resistance, followed by 25,400 and 25,500.
The charts of Bank Nifty indicate that it may get support at 51,200, followed by 51,100 and 51,000. If the index advances further, 51,700 would be the initial key resistance, followed by 51,900 and 52,000.
The foreign institutional investors (FIIs) continued their buying for the fifth consecutive session on September 4 as they bought equities worth Rs 975 crore, while domestic institutional investors bought equities worth Rs 97 crore on the same day.
INDIAVIX was positive Yesterday up by 3.86% and is currently trading at 14.3775.
Yesterday, the Indian markets opened with a gap down and closed in the red, following global trends. This decline breaks Nifty's 14-day streak of consecutive gains. Global markets experienced volatile trading following labor market data. To advance further towards the 25,450 to 25,500 range, the Index must sustain levels above 25,350. On the downside, immediate support would be at 25,050. Traders with long positions are advised to maintain a trailing stop loss at 24,950 on a closing basis for risk management.
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Post market comment by Mandar Bhojane, Research Analyst, Choice Broking