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
The positive trend remains strong with Nifty trading above 23,500 and Bank Nifty above 49,500. We expect this positive bias will continue. From the data, the 23,800 Call strike for Nifty has significant open interest (OI) of approximately 42 lakh shares, while the 23,400 Put strike holds substantial OI of around 56 lakh shares, with 23,400 expected to serve as significant support.
Regarding Bank Nifty, for today's expiry, it is expected to potentially move towards the 50,800-51,000 range. The 50,500 Call strike has the highest open interest (OI) of about 29 lakh shares, whereas the 50,000 Put strike has the highest OI on the Put side, with roughly 38 lakh shares.
Overall market sentiment is optimistic, making a "buy on every dip" strategy a viable approach.
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