06-06-2024 09:56 AM | Source: PR Agency
Pre-Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India`s Deep Discount Broker
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Below the Quote on Pre-Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India’s Deep Discount Broker
In the near term, all eyes are on the government getting formed, which could affect how the market behaves based on what the different groups involved say and ask for.
Yesterday, Nifty experienced notable volatility, rebounding sharply with all 50 stocks closing positively. Today, anticipated resistance for Nifty stands at 23,000 levels, while immediate support is expected around 22,200. Notably, the 22,800 Call strike in Nifty exhibits significant Open Interest (OI) of approximately 41 lakh shares, while the 22,500 Put strike holds substantial OI of around 34 lakh shares.
Looking ahead, Bank Nifty is projected to trade within the broader range of 48,000 to 50,000 levels. With the election-related uncertainty fading, attention is anticipated to shift back to fundamentally strong stocks.
Yesterday, Nifty experienced notable volatility, rebounding sharply with all 50 stocks closing positively. Today, anticipated resistance for Nifty stands at 23,000 levels, while immediate support is expected around 22,200. Notably, the 22,800 Call strike in Nifty exhibits significant Open Interest (OI) of approximately 41 lakh shares, while the 22,500 Put strike holds substantial OI of around 34 lakh shares.
Looking ahead, Bank Nifty is projected to trade within the broader range of 48,000 to 50,000 levels. With the election-related uncertainty fading, attention is anticipated to shift back to fundamentally strong stocks.
Above views are of the author and not of the website kindly read disclaimer
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