Finnifty Intraday Analysis for 16th January 2025
Updated
CNXFINANCE Index closed near 22680 level and Maximum Call and Put Writing near CMP as below in January Month contract:
Call Writing
23000 Strike – 1.20 Lakh
22700 Strike – 0.64 Lakh
23750 Strike – 0.47 Lakh
Put Writing
22500 Strike – 0.95 Lakh
22600 Strike – 0.53 Lakh
22800 Strike – 0.48 Lakh
Index has resistance near 22900 - 22950 range and if index crosses and sustains above this level then may reach near 23100 - 23150 range.
Index has immediate support near 22550 – 22500 range and if this support is broken then index may tank near 22400 – 22350 range.
Trade closed: target reached
Gap up opening and made high near 22995 and profit booking dragged to low near 22885 and closed near 22945.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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