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
Oil & Gas Sector Update : Crude Compass - Weekly Oil...
Mcap of India`s listed universe breaches one-year hi...
Ideal gold buying range may be seen at Rs 1.14?1.18 ...
Novelix Pharmaceuticals touches roof on signing tech...
Paras Defence rises on incorporates subsidiary company
L&T moves up as its arm partners with CP PLUS
HDFC Life Insurance Company gains on reporting 3% ri...
Metals & Mining Sector Update : Q1FY26 Quarterly Res...
Rupee strengthens against US dollar on Friday
India, Australia discuss ways to enhance cooperation...
More News
Daily Market Commentary : Equity markets fell sharply as US tariffs and China?s 34% retaliat...
Quote on impact on markets and economy due to ongoing Indo-Pak tension and operation sindoor by Pankaj Singh, smallcase manager...
Daily Market Commentary :Global markets remained firm, with European indices and U.S. futures trading higher Says Mr. Siddharth...
Quote on Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities