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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

Yesterday, Nifty saw a notable decline, with small and mid-cap stocks taking a particularly hard hit, dropping by around 5%. Presently, the market is marked by high volatility and a lack of clear direction.

Concerning the Nifty, it breached the crucial support level of 22,000 yesterday. Analysis indicates aggressive call writing at both at-the-money (ATM) and out-of-the-money (OTM) strike prices for today's expiry, suggesting a likely limitation on upside movements. It's imperative for the Nifty to maintain the critical range of 21,800-21,950.

Regarding the Bank Nifty, there's substantial open interest observed at the 47,500 Call strike for the day, which could pose an immediate hurdle. On the downside, 46,500 is anticipated to function as a support level.

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