Mid Market Comment by Mr Shrey Jain, Founder & CEO SAS Online

2024-05-28 10:10:29 am | Source: PR Agency

Mid Market Comment by Mr Shrey Jain, Founder & CEO SAS Online - India's Deep Discount Broker

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

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Yesterday, Nifty tested the 23,100 level but failed to maintain its gains and ended flat. Today, we expect Nifty to consolidate around the 23,000 level, as both the 23,000 Call and Put options have substantial open interest. Specifically, the 23,000 Call strike has significant open interest of approximately 64 lakh shares, while the 23,000 Put strike holds around 71 lakh shares in open interest.

For Bank Nifty, the 49,000 Put strike has notable open interest, which is expected to provide support, whereas the 49,500 level is likely to act as a resistance. The volatility index continues to rise ahead of the election results, reaching 23.61. Until June 3rd, we can expect the market to exhibit rollercoaster-like fluctuations.

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Mid Market Comment by Mr Shrey Jain, Founder & CEO SAS Online - India's Deep Discount Broker

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