Finnifty Intraday Analysis for 04th June 2024
CNXFINANCE Maximum Call writing near CMP is at 23000 strike with 19.92 Lakh followed by 10.02 Lakh Call at 22500 Strike and 7.51 Lakh at 22600 strike. Maximum Put writing is at 9.81 Lakh at 22000 strike followed by 8.23 Lakh Put writing at 22500 strike and 4.73 Lakh at 22400 strike. Index closed near 22595 level. Volatility will be high due to General Election result on 4th June.
Market will be volatile on the General Election counting day and expected to open higher. Highest Call writing at 23000 level. Index may reach this level or cross it if 400+ seats secured by BJP.
Index has support near 22000 level. If BJP could not make government or marginal majority, then Index may tank to 22000 level or below it.
Trade closed: target reached
Index tanked due to poor performance of BJP in General election and Index tanked more than 2200 points but managed to recover and closed near 20940 level.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
Request for follow on X @rkmaurya_ra
Request for follow on X @rkmaurya_ra
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.