Pre-Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India`s Deep Discount Broker
Below the Quote on Pre-Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India’s Deep Discount Broker
The Indian stock market benchmarks, Sensex and Nifty 50, are set for a subdued start on Monday amid mixed global signals. Nifty's critical support levels are at 24,230 and 24,180, pivotal for maintaining bullish momentum. Options data highlights concentration at 24,200 for calls and 24,800 for puts this week.
Bank Nifty is in consolidation mode, encountering resistance at 53,000 - 53,200 with active call writing, while support holds steady at 52,300 - 52,100. As the Budget approaches and quarterly results loom, investor sentiment remains cautious.
Ahead of the Budget on 23rd July, the market is expected to trade sideways, advocating a strategy of 'buying on dips'.
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