NIFTY
Maximum Call writing near CMP is at 25000 strike with 53.80 Lakh followed by 26.61 Lakh at 24400 Strike and 39.11 Lakh at 24500 strike and Put writing of 40.33 Lakh at 24000 Strike followed by 31.02 Lakh at 24200 Strike and 30.59 Lakh at 24300 strike. Index is closed near 24300 level.
Index has resistance near 24400 - 24425 range and if index crosses and sustain above 24425 level then may reach near 24500 level. If crosses above 24600 level, then may reach near 25000 in near term.
Index has immediate support near 24250 – 24200 range and if this support is broken then index may tank near 24100 – 24000 range.
Trade closed: target reached:
Gap down opening but bounced back above 24200 support level and close above 24300 level.