Finnifty Intraday Analysis for 21st January 2025

Jan 20

CNXFINANCE

Index closed near 22925 level and Maximum Call and Put Writing near CMP as below in January Month contract:

Call Writing
23000 Strike – 1.51 Lakh
23500 Strike –1.49 Lakh
23400 Strike – 0.60 Lakh

Put Writing
22500 Strike – 1.27 Lakh
23000 Strike – 0.89 Lakh
22800 Strike – 0.77 Lakh

Index has resistance near 23250 - 23300 range and if index crosses and sustains above this level then may reach near 23500 - 23550 range.

Index has immediate support near 22700 – 22650 range and if this support is broken then index may tank near 22500 – 22450 range.

High volatility expected due uncertainty on what will say in his first presidential speech and which executive order President Trump will sign after assuming the Oval office.

Jan 21

Trade closed: target reached

Gap up opening with high near 23010 then tank to low near 23490 with close near 22550. Market tanked due to non clarity on tariff imposition by Trump Administration and other executive orders.