Mid-market comment by Mr Shrey Jain, Founder and CEO SAS Online

25-04-2024 11:48 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

Yesterday, the market witnessed another session of trading within a tight range around the 22400 mark. Analysis of option data indicates an increase in open interest for both At-The-Money (ATM) and near ATM Call and Put strikes, suggesting a continued period of consolidation. However, a clear move beyond the range of 22300 to 22450 will indicate a breakout.
Regarding the Bank Nifty, a breakthrough above 48200 is anticipated to trigger short covering activity. Until such a move occurs, consolidation is likely to persist within the range of 47500 to 48200. Traders are advised to consider buying opportunities during any downward movements in the market.

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Mid-market comment by Mr Shrey Jain, Founder and CEO SAS Online - India`s Deep Discount Broker

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