Mid-market comment by Mr Shrey Jain, Founder and CEO SAS Online

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

News By Tags | #Sensex #ExpertViews #MarketOutlook #Nifty #BankNifty #ShreyJain #SASOnline

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.

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

IGI Logo

Mid-market comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker

Top News

Tag News

More News