Finnifty Intraday Analysis for 4th April 2024
Updated
CNXFINANCE Maximum Call and Put writing is at 21200 strike with 3.79 Lakh Call and 4.74 Lakh Put. Second Highest Call writing of 3.68 Lakh at 21300 Strike and Put writing of 3.88 Lakh at 21000 Strike.
Index is expected to trade in the range between 21070 - 21330 range. Contra trade may be initiated when index mode in either support or resistance zone.
Big move expected if index more above 21340 and Call unwinding takes place at 21200 strike then index may touch 21500 level. Index has support near 21050 level. Long position may be initiated if Index touch near support.
Trade closed: stop reached
Gap up opening above 21450 level above the anticipated trading range then tank to low near 21225 and bounced with close near 21400 level above 21330 resistance level. No trade initiated in this index.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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