Finnifty Intraday Analysis for 5th August 2024

Aug 4

CNXFINANCE

Index closed near 23365 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
23500 Strike – 16.86 Lakh
23600 Strike – 9.16 Lakh
24000 Strike – 8.68 Lakh

Put Writing
23000 Strike – 8.77 Lakh
22800 Strike – 7.20 Lakh
22600 Strike – 6.05 Lakh

Index has resistance near 23600 - 23700 range and if index crosses and sustain above 23700 level then may reach near 23800 - 23900 range.

Index has immediate support near 23200 – 23100 range and if this support is broken then index may tank near 22900 – 22800 range.

Aug 5

Trade closed: target reached

Gap down opening below 23100 level and tanked to low near 22600 level with close near 22750.