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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 market is currently navigating a highly volatile landscape, driven by increased caution due to the ongoing conflict in the Middle East. In the short term, the indices seem to be in oversold territory, indicating a potential pullback that could propel the Nifty 50 toward levels between 25,200 and 25,350.

For the Bank Nifty, option data also indicates that the market is oversold. We anticipate a phase of consolidation, with a possible rebound from key support levels at 50,000 and 50,500. For the Nifty, key support is expected between 24,630 and 24,470, while resistance is likely to be encountered in the range of 24,930 to 25,040.

Looking ahead, investors are expected to exercise caution as they await local quarterly earnings reports and the Reserve Bank of India’s forthcoming rate decision.

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