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
The market managed another gap-up opening, with Nifty opening at 24,300. If Nifty maintains its early gains and breaks through the 24,350 level, short covering could push it towards 24,500.
For today’s expiry, Bank Nifty is likely to face selling pressure at higher levels, with 50,500 expected to act as a key resistance point. This Call strike has significant open interest of around 35 lakh shares, while the 50,000 Put strike has an open interest of about 17 lakh shares.
Though the long-term outlook remains positive due to favorable macroeconomic conditions, short-term volatility is expected as uncertainties in the Middle East continue.
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