NIFTY
Highest Call writing near CMP is at 23000 Strike of 93.53 Lakh followed by 64.68 Lakh at 23100 Strike and 61.19 Lakh at 23200 strike. Maximum Put writing of 68.86 Lakh at 22500 Strike followed by 67.62 Lakh at 23000 strike 54.27 Lakh at 22700 Strike. Index closed near 22890 level.
Index has strong resistance near 23000 - 23200 level and if index reaches in this zone then contra trade may be initiated if Call writing increases at 23000, 23100, 23200 Strike. If Index crosses and sustain above 23200 level, then index may reach near 234500.
Index has strong support near 22800 – 22700 range and if this support of 22700 support is broken then index may reach near 22600 level.
Trade closed: target reached:
Gap down opening and broked 22800 support level and managed to close near 22700 level.