Long

Nifty Intraday Analysis for 8th April 2024

Updated

Highest Call and Put writing is at 22500 strike with 53.89 Lakh Call and 61.44 Lakh Put. 2nd highest Call writing of 60.59 Lakh at 22800 Strike and Put writing of 53.82 Lakh at 22400 strike. Support level is shifting up near 22300 - 22400 level.

Index is closed near 22525 resistance level. If index crossed 22580 level unwinding of Call and / or Building of Put taking place at 22500, then index may touch 22800 level.

If index goes near 22400 level and Building of Put taking place at 22500, then index may bounce to 22525 level.

Reversal of short term trend possible if index fall below 22300 level and unwinding of Put at 22500 taking pplace.

Trade closed: target reached

Index crossed 22580 level unwinding of Call and Building of Put taking place at 22500, Index made ATH high near 22700 level. Unwinding of Call taking place at 22800 level and Building up Call taking place at 23000 Strike suggesting traders are Bullish for Index to reach near 23000 level.

RKMAURYA

Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

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