NIFTY
Highest Call writing near CMP is at 23000 Strike of 65.34 Lakh followed by 53.13 Lakh at 23200 Strike and 50.30 Lakh at 23100 strike. Maximum Put writing of 72.97 Lakh at 23000 Strike followed by 51.30 Lakh at 22700 strike 47.72 Lakh at 22800 Strike. Index closed near 22930 level.
Index has strong resistance near 23000 - 23200 level and if index reaches in this zone then contra trade may be initiated if Call writing increases at 23000, 23100, 23200 Strike. If Index crosses and sustain above 23200 leve then index may reach near 234500.
Index has strong support near 22800 – 22700 range and if this support of 22700 support is broken then index may reach near 22600 level.
Trade closed: target reached:
Open flat but could not cross 23000 resistance level and tanked to low near 22850 level.