2024-09-10 12:44:58 pm | Source: PR Agency
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
Today, key equity benchmark indices, Sensex and Nifty, are trading higher, buoyed by a rally in global markets and fresh foreign fund inflows.
Looking ahead, we anticipate that Nifty will maintain support around the 24,800 level, with resistance likely emerging at 25,100. Bank Nifty has shown notable outperformance compared to Nifty, with private sector banks among the top gainers. We expect Bank Nifty to target 51,500, driven by short covering. However, immediate support is expected in the range of 50,800 to 51,000.
Overall market sentiment is neutral to positive, suggesting trading opportunities on both sides. Given the current conditions, it may also be wise to consider booking profits at higher levels.
Looking ahead, we anticipate that Nifty will maintain support around the 24,800 level, with resistance likely emerging at 25,100. Bank Nifty has shown notable outperformance compared to Nifty, with private sector banks among the top gainers. We expect Bank Nifty to target 51,500, driven by short covering. However, immediate support is expected in the range of 50,800 to 51,000.
Overall market sentiment is neutral to positive, suggesting trading opportunities on both sides. Given the current conditions, it may also be wise to consider booking profits at higher levels.
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Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
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