Finnifty Intraday Analysis for 12th August 2024
Updated
CNXFINANCE Index closed near 22985 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
23000 Strike – 11.24 Lakh
23700 Strike – 8.45 Lakh
23500 Strike – 8.05 Lakh
Put Writing
22500 Strike – 8.47 Lakh
22600 Strike – 7.09 Lakh
23000 Strike – 5.27 Lakh
Index has resistance near 23000 - 23100 range and if index crosses and sustain above 23150 level then may reach near 23250 - 23350 range.
Index has immediate support near 22700 – 22600 range and if this support is broken then index may tank near 22500 – 22400 range.
Trade closed: target reached
Gap down opening with low near 22830 level then bounced to high near 23160 with close near 23020.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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