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
Following the budget announcements, both Nifty and Bank Nifty saw significant volatility but managed to recover, ending the yesterday session flat. Looking ahead, Nifty is likely to encounter immediate resistance around 24,500, with 24,300 acting as a key support level. Bank Nifty underperformed Nifty due to selling pressure in the private banking sector. We anticipate Bank Nifty to trade below 52,000 levels by today's expiry, with 51,300 serving as a crucial support zone.
Post-budget, sectors like FMCG, IT, and Pharma have shown resilience and are bolstering the market. Our long-term growth outlook remains firm, hinting on continued robust participation from retail investors.
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