21-02-2024 11:51 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
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
Latest News
IPO Note : Enviro Infra Engineers Ltd By Geojit Fina...
Global Sugar Market : Production, Prices, and Trends...
Sensex surges 855 pts despite geo-political tensions...
India`s tech, durable offline retail market sees 10 ...
India`s business activity surges to 3-month high in ...
Building Generational Wealth: Key Strategies for Sec...
Paytm Transforms Indian Wedding Traditions with QR C...
India`s tech, durable offline retail market sees 10 ...
Buy Dhaniya Dec @ 7800 SL 7700 TGT 7900-8000. NCDEX ...
``To attract youth towards TV serials?``, Producer S...
Tag News
Markets moved down further on Thursday after the weakness seen in the afternoon session of T...
More News
Weekly Note by Mr. Ajit Mishra, SVP - Research, Religare Broking Ltd
Weekly Market Round-off by Shrikant Chouhan, Head of Equity Research, Kotak Securities
Mid-Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India`s Deep Discount Broker
Daily Market Commentary : Nifty continued its downward journey to close with the loss of 159 points (-0.8%) at 19742 levels Say...