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
Today, the Sensex and Nifty benchmarks are trading higher following a flat start, driven by mixed global trends. The Nifty continues its solid near-term uptrend, facing resistance around the 25,000 level and support expected at 24,700.
For the Bank Nifty, we expect selling pressure at higher levels, with 51,850 identified as a key resistance and 51,000 as significant support. Market focus will shift to the upcoming US Fed meeting, which is anticipated to provide a timeline for a potential rate cut in 2024, along with Q1 results from major domestic companies. In the short term, the market may experience some volatility or a slight decline before potentially trending upwards.
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