Nifty Intraday Analysis for 23rd July 2024

Index closed near 24510 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
25500 Strike – 86.84 Lakh
25000 Strike – 68.93 Lakh
24800 Strike – 48.72 Lakh

Put Writing
24000 Strike – 67.90 Lakh
24500 Strike – 56.69 Lakh
24300 Strike – 31.79 Lakh

Index has resistance near 24600 – 24700 range and if index crosses and sustain above 24700 level then may reach near 24950 - 25000 range.

Index has immediate support near 24400 – 24350 range and if this support is broken then index may tank near 24200 – 24100 range.

Budget Day experience high volatility.

Trade closed: target reached

Highly volatile day due to Budget. Index tanked to low near 47070 and bounced back quickly to close above 24475 level.

RKMAURYA

Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

Request for follow on X @rkmaurya_ra

Also on:

RKMAURYA

Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

Request for follow on X @rkmaurya_ra

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.