NIFTY
Highest Call writing of 70.24 Lakh at 22500 Strike followed by 51.05 Lakh at 22200 Strike. Maximum Put writing of 81.79 Lakh at 22200 Strike followed by 53.34 Lakh at 21800 Strike.
Index may face resistance near 22425 - 224250 and go beyond 10950 level only when Israel Iran War Tension eases out.
Index has strong support near 21900 - 21800 level and less likely to fall below 10800 unless new geopolitical tension arises.
It is expected that the index trade around 22425 - 21900 level if was tension is not escalated much. Any change will be updated if any new development arise due to Israel Iran war tension arises.
Comment:
Please read 10950 as 21950 in the 2nd line and 10800 as 21800 in the 3rd line. This is typing error.
Trade closed: target reached:
Gap up opening near 22300 level then bounced to support near 22200 and agained bounced to high near 22375 level.