2024-06-26 10:26:33 am | Source: PR Agency
In the current leg of the market upswing, the Nifty has reached a fresh all-time high of 23,750, driven by gains in private banking stocks. Today, we expect the momentum to continue, targeting levels between 23,900 and 24,000. On the downside, 23,500 is anticipated to provide support.
Bank Nifty continues to lead the way for Nifty. For today’s monthly expiry, Bank Nifty is likely to trade with a positive bias, potentially reaching 53,000. Among banking stocks, the focus should remain on private banks, while PSU banks are expected to remain subdued. In Bank Nifty, the 53,000 Call strike has the highest open interest with approximately 28 lakh shares. On the Put side, the highest base is at the 52,000 strike with around 42 lakh shares.
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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
In the current leg of the market upswing, the Nifty has reached a fresh all-time high of 23,750, driven by gains in private banking stocks. Today, we expect the momentum to continue, targeting levels between 23,900 and 24,000. On the downside, 23,500 is anticipated to provide support.
Bank Nifty continues to lead the way for Nifty. For today’s monthly expiry, Bank Nifty is likely to trade with a positive bias, potentially reaching 53,000. Among banking stocks, the focus should remain on private banks, while PSU banks are expected to remain subdued. In Bank Nifty, the 53,000 Call strike has the highest open interest with approximately 28 lakh shares. On the Put side, the highest base is at the 52,000 strike with around 42 lakh shares.
Above views are of the author and not of the website kindly read disclaimer
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
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