Maximum Call writing near CMP is at 23700 strike with 2.82 Lakh followed by 1.56 Lakh at 23600 Strike and 1.15 Lakh at 24000 strike and Put writing of 2.44 Lakh at 23700 Strike followed by 1.53 Lakh at 23600 Strike and 1.20 Lakh at 23500 strike. Index is closed near 23660 level.
Index has resistance near 23700 - 23750 range and if index crosses and sustain above 23750 level then may reach near 24000 level. If index further crosses and sustain above 24050 then may reach near 24200 level.
Index has immediate support near 23400 – 24350 range and if this support is broken then index may tank near 23100 level.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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