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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 benchmark Nifty and Bank Nifty indices are poised to start the day on a positive note, with Nifty showing strength around the 22700 mark, while Bank Nifty is expected to maintain its position around 48650.

Throughout the day, we anticipate Nifty to sustain its upward momentum. If there's a correction towards the 22550 level in Nifty spot, it could present an opportunity for fresh long positions. Notably, the 22800 Call strike in Nifty has significant Open Interest (OI) of approximately 48 lakhs shares, while the 22500 Put strike holds substantial OI of around 91 lakhs shares.

Looking at the option data, Bank Nifty is likely to consolidate near the current levels, with both Call and Put strikes at 48500 showing substantial OI. Nevertheless, our outlook remains positive as long as Bank Nifty holds above the 48000 mark.

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