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RKMAURYA

Finnifty Intraday Analysis for 8th April 2024

Long
Nifty Financial Services Index (NSE:CNXFINANCE)  
RKMAURYA Updated   
NSE:CNXFINANCE   Nifty Financial Services Index
Support and Resistance Supply and Demand Pivot Points
2
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supportandresistance supplyanddemand pivotpoints
CNXFINANCE

Maximum Call writing is at 21700 strike with 10.46 Lakh followed by 9.55 Lakh Call at 21800 Strike. Maximum Put writing is at 11.46 Lakh at 21200 strike followed by 11.07 Put writing at 21300 Strike. The support level is shifting above to 21200 - 21300 range.


If index crossed above 21630 level and unwinding of Call positions at 10600 and 10700 strike taking place then index may reach near 21700 level. Support is near 21300 level.

If Index fall to near 21300 level and Building up Put option taking place at 21300 and 21200 strike then index may bounce to resistance level 21630 level.

Reversal of short term trend may be seen below 21200 level which is unlikely situation in near term.
Trade closed: target reached:
Index struggled near resistance area marked on the Chart and traded in the narrow range. Expected to trade in range on weekly expiry day.
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