Finnifty Intraday Analysis for 7th January 2025

Jan 6

CNXFINANCE

Index closed near 23320 level and Maximum Call and Put Writing near CMP as below in January Month contract:

Call Writing
24000 Strike – 1.12 Lakh
23800 Strike – 0.55 Lakh
23500 Strike – 0.44 Lakh

Put Writing
24000 Strike – 1.23 Lakh
23800 Strike – 065 Lakh
23500 Strike – 0.51 Lakh

Index has resistance near 23500 - 23550 range and if index crosses and sustains above this level then may reach near 23700 - 23750 range.

Index has immediate support near 23200 – 23150 range and if this support is broken then index may tank near 23050 – 23000 range. If the Index doesn't bounce back from day low, another round of downside moment is expected due to fresh development of the HMPV threat.

Jan 7

Trade closed: target reached

Gap up opening then again fall with low near 23290, again bounced with high near 23520 and closed near 23430.