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
Global sentiments are bullish after an overnight rally on Wall Street, with investors largely unfazed by stronger-than-anticipated U.S. inflation data. However, in the Indian market, recent sessions have revealed a segmented pattern: Nifty and Bank Nifty are hovering near their all-time highs, while mid and small-cap indices are noticeably lagging behind, far from their peak levels.
Regarding Bank Nifty, yesterday, it experienced a volatile day and ultimately closed nearly unchanged. Anticipating today's weekly expiry, we anticipate Bank Nifty spot trading within the range of 47000 to 47500 levels, considering significant Open Interest at respective Put and Call strikes.
As for Nifty, we foresee limited upside potential for the day due to aggressive Call writing observed at the 22500 Call strike.
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