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 Nifty index remained stable around the 23,300 level for the third consecutive day. We expect this consolidation to continue and a significant directional move is expected only if the index surpasses the 23,400-23,500 range.
For today, Nifty faces strong resistance at 23,500, where the corresponding Call option strike has a notable open interest of approximately 75 lakhs shares. On the Put side, the 23,200 strike shows substantial open interest of around 63 lakhs shares. Regarding the Bank Nifty, there is resistance at 50,200, with the potential for a decline to 49,600. A breach of the 49,600 level could further lower the index to around 49,100.
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