21-06-2024 10:54 AM | 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


The market is exhibiting a non-directional trend, and traders are still waiting for a breakout in either direction. For today's trading session, Nifty is expected to consolidate around current levels. However, our outlook remains positive, with an anticipated move towards the 23,800 level. Notably, the 23,500 Call strike holds an open interest of approximately 46 lakh shares, while the 23,500 Put strike has a substantial open interest of around 57 lakh shares. We believe that Nifty may attempt to move higher, with immediate support near the 23,200 level.

Bank Nifty has continued to outperform Nifty, ending in the green for the fourth consecutive session. We expect this positive momentum to persist, potentially reaching the 52,200 level. In Bank Nifty, the 52,000 Call strike holds the highest open interest at roughly 21 lakh shares, while the highest Put base is at the 51,500 strike with approximately 19 lakh shares.


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