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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

Indian stock market opened lower on Friday, with the Sensex dropping by 700 points and the Nifty falling below 24,800. The Nifty MidCap index also declined by 1%. This downturn reflects a global sell-off triggered by disappointing U.S. economic data, raising concerns about a potential slowdown in the world’s largest economy. Additionally, uncertainty over the Japanese central bank's future policy actions further dampened market sentiment.

For the Nifty, immediate support levels are seen around 24,775 to 24,850, while the Bank Nifty is expected to find support in the range of 50,800 to 51,000. Given the high volatility, it is advisable to avoid holding overnight positions. However, following the significant gap-down opening, investors might consider establishing buying positions at these key support levels.

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