Maximum Call writing near CMP is at 25000 strike with 85.52 Lakh followed by 54.79 Lakh at 24500 Strike and 49.11 Lakh at 24400 strike and Put writing of 69.32 Lakh at 24000 Strike followed by 61.19 Lakh at 24300 Strike and 54.00 Lakh at 24200 strike. Index is closed near 24430 level.
Index has resistance near 24500 level and if index crosses and sustain above 24550 level then may reach near 24800 level. If crosses above 24800 level, then may reach near 25000 in near term.
Index has immediate support near 24300 level and if this support is broken then index may tank near 24150 level after that 24000 level.
Trade closed: target reached
Open flat then tanked to low near 24140 level then bounced and closed aboved 24300 support level.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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