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
Market pressure, fueled by uncertainty over the election outcome and heightened volatility, is poised to drive domestic benchmark indices lower. For today's Bank Nifty expiry, the 48000 Put strike is seeing substantial open interest (OI), expected to offer immediate support. However, if Bank Nifty struggles to maintain levels above 48000, it could slide further towards the 47500 mark.
Regarding the Nifty, the 22500 Call strike holds noteworthy OI, establishing itself as a crucial resistance zone for the day. This strike exhibits significant OI of approximately 180 lakhs shares. On the Put side, the 22300 strike holds substantial OI of around 81 lakhs shares.
Above views are of the author and not of the website kindly read disclaimer
