Nifty Intraday Analysis for 5th August 2024

Aug 4

NIFTY

Index closed near 24720 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
25000 Strike – 77.43 Lakh
25500 Strike – 68.07 Lakh
25200 Strike – 55.42 Lakh

Put Writing
24000 Strike – 60.09 Lakh
24100 Strike – 46.58 Lakh
24500 Strike – 33.49 Lakh

Index has resistance near 24850 – 24950 range and if index crosses and sustain above 25100 level then may reach near 25000 - 25100 range.

Index has immediate support near 24600 – 24500 range and if 24500 support is broken then index may tank near 24350 – 24250 range.

Aug 5

Trade closed: target reached

Gap down opening and broked 24250 support level and tanked to low near 24010 and closed near 24050.