NIFTY
Highest Call writing near CMP is at 23000 Strike of 130.59 Lakh followed by 84.71 Lakh at 22900 Strike and 82.11 Lakh at 22800 strike. Maximum Put writing of 81.22 Lakh at 22500 Strike followed by 62.64 Lakh at 22700 strike 54.76 Lakh at 22600 Strike. Index closed near 22705 level.
Index has strong resistance near 22825 - 22860 level and if index if crosses and sustain above 22925 level and may reach near 23000. Contra trade may be initiated if index reaches near 23000 level.
Index has support near 22600 range and if this support of 22600 support is broken then index may reach near 22500 level.
Trade closed: target reached:
Gap down opening and broke 22600 support level with low near 22420 level but managed to close near 22555 level above 22500 support.