10-09-2024 12:44 PM | Source: PR Agency
Mid Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India`s Deep Discount Broker
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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.
Above views are of the author and not of the website kindly read disclaimer
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