21-08-2024 11:47 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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After a four-day surge, we expect investors to take some profits following the recent rally. Despite this, the overall trajectory for the Nifty remains positive. A sustained move above the 24,700 threshold could pave the way for the index to reach the 25,000 to 25,100 range. In the near term, we view the 24,400 to 24,500 zone as a crucial support level, and any retreat towards this range should be seen as a buying opportunity.
Regarding the Bank Nifty, recent trading sessions have indicated short covering in banking and financial stocks. We expect this positive momentum to carry over into today's trading. Should the index maintain its position above the 51,000 mark during today’s expiry, we anticipate a potential acceleration in positive momentum.
Regarding the Bank Nifty, recent trading sessions have indicated short covering in banking and financial stocks. We expect this positive momentum to carry over into today's trading. Should the index maintain its position above the 51,000 mark during today’s expiry, we anticipate a potential acceleration in positive momentum.
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