Mid Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India`s Deep Discount Broker
Below the Quote on Mid Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India’s Deep Discount Broker
Indian markets are trading within a narrow range. Yesterday, the Nifty managed to close above the 25,000 level, buoyed by continued buying in IT stocks. We expect this trend to continue, with the Nifty potentially advancing towards the 25,200 mark. On the downside, the 25,000 level is anticipated to serve as support.
For today’s weekly expiry, we anticipate Bank Nifty to trade within the 51,000 to 51,500 range, with a generally positive outlook. In Bank Nifty, the 51,500 call strike has notable open interest of approximately 40 lakh shares, while the 51,000 put strike shows an open interest of around 32 lakh shares. Investors are closely watching upcoming U.S. inflation data, which may influence the Federal Reserve's next rate decision.
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