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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 short-term trajectory of the Stock Market displays heightened volatility with a bearish inclination. For Bank Nifty, 46500 is expected to act as a key support level today. If it breaks below this level, it could intensify bearish sentiment. In Bank Nifty, the 47000 Call strike has an OI of around 8 lakh shares, while the Put side at the same strike has a significant OI of about 10 lakh shares.

For the Nifty index, the immediate support level rests at 21800. If it remains below this level, the likelihood of continued weakness is anticipated. Conversely, the 22200 mark is expected to pose as an immediate resistance zone. Once the volatility triggered by the election results settles, the market could stabilize and define a clearer direction for the near future.

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