Finnifty Intraday Analysis for 5th April 2024
Updated
CNXFINANCE Maximum Call writing is at 21400 strike with 5.76 Lakh followed by 5.23 Lakh Call at 21500 Strike. Maximum Put writing is at 9.59 Lakh at 21000 strike followed by 8.56 Put writing at 21100 Strike. As the Option writing is widening up, the trade range is also widening between 21000 - 21100 support and resistance near 21600 - 21630 level.
If index crossed above 21455 level and unwinding of Call positions at 10400 strike taking place then index may reach near 10600 - 10630 level. Su[port is near 21225 level.
If Index fall below 21225 level and unwinding of Put option taking place at 21300 and 21200 strike then index may go near 21070 support level which is unlikely situation.
Trade closed: target reached
Crossed and sustained 21455 level and made high near 21575 level and faced resistance near 21600 level as analysed.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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