Mid-market comment by Mr Shrey Jain, Founder and CEO SAS Online - India`s Deep Discount Broker
Below the Quote on Mid Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
Encouraged by favorable global indicators and robust Q4 earnings, BSE Sensex and Nifty50 extended their upward trajectory today following a strong performance on Monday.
The Nifty commenced the session with a rise and continued to strengthen throughout the day. Momentum appears poised to push towards the 22850 mark, with significant support anticipated at 22550. Notably, the 22850 Call strike in Nifty commands an Open Interest (OI) of approximately 112 lakhs shares, while the 22500 Put strike boasts substantial OI of around 155 lakhs shares.
Bank Nifty surpassed Nifty performance, driven by substantial buying activity in both heavyweight private and PSU banks. The bias for today's expiry leans towards positivity, with the potential for fresh long positions if Bank Nifty experiences a correction towards the 49100-49200 levels.
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