2024-02-21 11:51:24 am | Source: PR Agency
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
Despite a neutral global market sentiment and slight selling from foreign institutional investors (FIIs), the domestic market remains robust, hitting a lifetime high for the second consecutive day. GIFT Nifty suggests a positive opening near the 22250 levels. We anticipate Nifty to trade with a positive bias today. On the downside, significant Put strikes are observed at 22000 and 22100, expected to provide immediate support.
Looking ahead, if Bank Nifty sustains above 47200 levels, we foresee a move towards 47500 levels. Notably, the 47000 Call strike in Bank Nifty holds substantial Open Interest (OI) of around 23 lakhs shares, while the 47000 Put strike holds sizable OI of approximately 29 lakh shares. It's advisable to adopt a "buy on dips" strategy in this scenario.
Looking ahead, if Bank Nifty sustains above 47200 levels, we foresee a move towards 47500 levels. Notably, the 47000 Call strike in Bank Nifty holds substantial Open Interest (OI) of around 23 lakhs shares, while the 47000 Put strike holds sizable OI of approximately 29 lakh shares. It's advisable to adopt a "buy on dips" strategy in this scenario.
Above views are of the author and not of the website kindly read disclaimer
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
IPO Note : Denta Water & Infra Solutions Ltd By Geoj...
Market Watch: Asia follows US higher - Geojit Financ...
BHIM partners with Fintech Yatra to Advance Financia...
Nifty is expected to open on a positive note and lik...
Mahindra Leads with First-of-Its-Kind `Returnship` f...
FIIs Sell Rs.5920.28 Cr in Cash, Rs.2428.17 Cr in In...
Standard Chartered introduces SC PrismFX
JK Tyre ties up with IFC for India`s First Tyre Ind...
Market is expected to open on a positive note and li...
JSW Group signs MoU with Governement of Maharashtra ...
Tag News
Market Watch: Asia follows US higher - Geojit Financial Services Ltd
Nifty is expected to open on a positive note and likely to witness range bound move during the day - Nirmal Bang Ltd
FIIs Sell Rs.5920.28 Cr in Cash, Rs.2428.17 Cr in Index Futures - Nirmal Bang Ltd
Market is expected to open on a positive note and likely to witness range bound move during the day - Nirmal Bang Ltd
More News
Daily Market Analysis : Markets kicked off the week on a positive note, gaining over half a ...
Morning Nifty and Derivative comments 11 January 2024 By Anand James, Geojit Financial Services
Weekly Market Outlook: Market ends week pessimistic amid strong USD, high valuation, shifts Says Vinod Nair, Head of Research ...
Mid Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India`s Deep Discount Broker