Nifty Intraday Analysis for 21st January 2025

6 days ago

NIFTY

Index closed near 23350 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
23600 Strike – 55.67 Lakh 23500 Strike – 48.29 Lakh
23700 Strike – 45.23 Lakh

Put Writing
23000 Strike – 75.72 Lakh
23200 Strike – 61.85 Lakh
23300 Strike – 48.12 Lakh

Index has resistance near 23450 - 23500 range and if index crosses and sustains above this level then may reach near 23600 - 23650 range.

Index has immediate support near 23100 – 23050 range and if this support is broken then index may tank near 22850 – 22800 range.

High volatility expected due uncertainty on what will say in his first presidential speech and which executive order President Trump will sign after assuming the Oval office.

5 days ago

Trade closed: target reached

Gap up opening with high near 23425 then tank to low near 22975 with close near 23025. Market tanked due to non clarity on tariff imposition by Trump Administration and other executive orders.