13-02-2024 11:44 AM | Source: PR Agency
Mid Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
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Below the Mid Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
Given the mixed signals in global markets, the Indian stock indices, Sensex and Nifty , are expected to begin cautiously today.
For Bank Nifty, resistance is likely near the 45,500 Call strike, which has significant Open Interest of approximately 33 lakhs shares. Additionally, notable Open Interest of around 18 lakh shares is observed at the 44,500 Put strike.
As for Nifty, the short-term trend is negative, indicating a potential "sell on rise" strategy as long as Nifty remains below the 21,850 mark. Support is seen at 21,500 on the downside.
For Bank Nifty, resistance is likely near the 45,500 Call strike, which has significant Open Interest of approximately 33 lakhs shares. Additionally, notable Open Interest of around 18 lakh shares is observed at the 44,500 Put strike.
As for Nifty, the short-term trend is negative, indicating a potential "sell on rise" strategy as long as Nifty remains below the 21,850 mark. Support is seen at 21,500 on the downside.
Above views are of the author and not of the website kindly read disclaimer
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