29-02-2024 10:26 AM | Source: PR Agency
Mid Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Below the Quote on Mid Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
In the last session, Nifty experienced a breach of its immediate support at the 22000 levels, accompanied by notable selling pressure. Ahead of today's expiry, analysis of the Nifty Weekly Option OI Distribution indicates significant Open Interest of approximately 160 lakhs shares at the 22200 Call strike, while the 21800 Put strike holds substantial Open Interest of approximately 58 lakhs shares, suggesting key levels to watch.
Looking ahead, 21800 is likely to serve as a support level on the downside. While Nifty has historically bounced back from similar levels, a drop below 21700 could precipitate a sharp decline in the near term. Immediate resistance is anticipated within the range of 22150-22200 levels.
Looking ahead, 21800 is likely to serve as a support level on the downside. While Nifty has historically bounced back from similar levels, a drop below 21700 could precipitate a sharp decline in the near term. Immediate resistance is anticipated within the range of 22150-22200 levels.
Above views are of the author and not of the website kindly read disclaimer
Latest News
India`s foreign exchange reserves stand at $657.89 b...
Haryana Minister urges Korean entrepreneurs to inves...
SEBI prohibits online platforms to solicits and sale...
Evening Roundup : A Daily Report on Bullion Energy &...
Divesting Chrome web browser to have a profound impa...
Engineering goods exports shoot past $10 bn in Oct, ...
BJP leader Kailash Gahlot meets BJP National Preside...
Advent agrees to sell Indian packaging firm to PAG f...
Rajnath Singh holds meet with his Philippines, Japan...
Prasar Bharati CEO Gaurav Dwivedi briefs about Prasa...
Tag News
Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities
Daily Market Analysis : Markets rebounded strongly this week, gaining over 2% after a recent decline Says Mr. Ajit Mishra, Religare Broking Ltd
Bulls roar on Dalal Street, Sensex and Nifty up over 2 pc
Markets moved down further on Thursday after the weakness seen in the afternoon session of Tuesday - HDFC Securities Ltd
More News
Daily Market Analysis : The markets reached a new high on the weekly expiry day, gaining nea...
Daily Market Analysis : Markets traded in a subdued manner, closing nearly unchanged after a recent rally Says Mr. Ajit Mishra,...
Daily Market Analysis : Markets began the week on a negative note, shedding approximately 1.3%, extending the ongoing downward ...
Market Quote : Post-Diwali, Indian equities continued consolidation amid global uncertainty Says Mr. Vinod Nair, Geojit Financi...