02-05-2024 10:07 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

 

Today, the Sensex and Nifty 50 are expected to trend positively, influenced by a blend of global market signals. This comes as Federal Reserve officials opt to maintain interest rates, in line with what the market anticipated.
During the previous trading session, the Nifty briefly reached the 22800 threshold but couldn't maintain this elevation, ultimately closing near 22600. As we approach today's weekly expiry, we expect the Nifty consolidating around its current levels, fluctuating within a wider spectrum of 22600 to 22750
The Bank Nifty experienced volatility during trading, with upward momentum hampered by selling pressure in heavyweight private banking stocks. Notably, both the 49500 Call and Put options hold significant open interest, indicating a likely range-bound activity near current levels. A strategy of buying on dips is advisable, as each support level presents potential buying opportunities.

 

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