02-07-2024 10:41 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 steady buying interest during declines indicates bullish control. The Nifty remains robust with the technical uptrend intact as long as it holds above 24,000. Dips towards 24,000 present buying opportunities, especially given the high Open Interest (OI) of approximately 76 lakh shares in the 24,000 Put option, and significant OI of approximately 68 lakh shares at the 24,500 Call strike.
Meanwhile, Bank Nifty is expected to trade between 52,500 and 53,000 today. Traders might consider entering new long positions if Bank Nifty futures approach the 52,600 level. Bank Nifty encounters strong resistance at 52,700; a breakthrough above this level could drive further gains. On the downside, solid support for Bank Nifty is found near 52,000.
Meanwhile, Bank Nifty is expected to trade between 52,500 and 53,000 today. Traders might consider entering new long positions if Bank Nifty futures approach the 52,600 level. Bank Nifty encounters strong resistance at 52,700; a breakthrough above this level could drive further gains. On the downside, solid support for Bank Nifty is found near 52,000.
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