Finnifty Intraday Analysis for 8th January 2025
Updated
CNXFINANCE Index closed near 23430 level and Maximum Call and Put Writing near CMP as below in January Month contract:
Call Writing
24000 Strike – 1.07 Lakh
23800 Strike – 0.45 Lakh
23500 Strike – 0.44 Lakh
Put Writing
24000 Strike – 1.16 Lakh
23500 Strike – 0.88 Lakh
23800 Strike – 0.61 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 23250 – 23200 range and if this support is broken then index may tank near 23100 – 23050 range.
Trade closed: target reached
Open flat with high near 23445 then tank to low to 23050 and close near 23235 on recovery.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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