Mid Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
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Below the Mid Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
Similar to the previous sessions, today's trading on Dalal Street is also expected to witness persistent volatility, influenced by mixed signals from global markets. Both the Indian benchmark indices, BSE Sensex and Nifty 50, began the day with a slight uptick. With the weekly expiry approaching, Nifty is likely to face resistance at higher levels, notably at the 22000 Call strike, boasting the highest Open Interest of approximately 114 lakh shares. Conversely, support is expected around the 21700 level. Furthermore, significant Open Interest of around 87 lakh shares is seen at the 21600 Put strikes.
Turning to Bank Nifty, analysis of option data suggests that the 45500 Put strike exhibits substantial Open Interest, indicating it could serve as a support level, while 46500 is poised to act as a resistance area on the higher side
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