March 19, 2024 / 09:12 AM IST
Sensex Today | Deven Mehata, Research Analyst at Choice Broking
The benchmark Sensex and Nifty indices are likely to open on a negative note on March 19 as trends in the GIFT Nifty indicate a weak start for the broader index with a loss of 77.50 points.
Nifty can find support at 21,950 followed by 21,900 and 21,850. On the higher side, 22,100 can be an immediate resistance, followed by 22,150 and 22,200.
The charts of Bank Nifty indicate that it may get support at 46,300, followed by 46,100 and 46,000. If the index advances, 46,800 would be the initial key resistance, followed by 46,900 and 47,000.
Foreign institutional investors (FIIs) net sold shares worth Rs 2,051.09 crore, while domestic institutional investors (DIIs) bought Rs 2,260.88 crore worth of stocks on March 18, provisional data from the NSE showed.
INDIAVIX was flat to positive by 1.50 percent and is currently trading at 13.8950.
Yesterday’s market was volatile and closed flat. With the selling pressure by FII’s we can witness profit booking from higher levels. Nifty and Bank Nifty are also respecting the strong support levels. Traders are advised to take a contra position where buying on dips at support levels and selling near the resistance could benefit in such a range bound market.
