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
Benchmark indices Sensex and Nifty began today's trading session with a muted tone, opening flat to slightly positive. The Nifty index is expected to remain range-bound between 24,950 and 25,100 for the day. A breakout from this range could pave the way for a new directional trend.
For Bank Nifty, in the previous session, NBFC stocks captured market attention with notable positive momentum, however, select banking stocks lagged in comparison. For today's expiry, it is critical for the Bank Nifty to maintain its position above the 51,300 mark to potentially ignite a short-covering rally. On the downside, the 51,000 level is anticipated to offer robust support.
Overall, the market appears to be in a consolidation phase characterized by low volatility and this trend is likely to continue in the near-term.
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