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 50 and Sensex are expected to open lower today, reflecting subdued sentiment across global markets.
Looking at today's weekly expiry, it is expected that Bank Nifty futures will maintain consolidation within a broader range of 47,500 to 48,000 levels. Support levels for Nifty Bank are projected at 47,025-47,175, with a stronger support zone at 46,800-46,950.
For Nifty, support is foreseen around 22,325-22,375 levels, with a robust buying zone at 22,175-22,250 levels. Option data indicates the highest Open Interest (OI) on the call side at the 22,700 strike price, followed by 22,800. On the put side, the highest OI is observed at the 22,300 strike price. However, the outlook remains positive, suggesting that declines could be utilized as opportunities to initiate long positions.
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