Nifty Intraday Analysis for 5th December 2024

Updated
NIFTY

Index closed near 24465 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
25000 Strike – 157.50 Lakh
24800 Strike – 116.87 Lakh
24500 Strike – 107.03 Lakh

Put Writing
24000 Strike – 130.13 Lakh
23800 Strike – 122.09 Lakh
23900 Strike – 84.79 Lakh

Index has resistance near 24550 – 24575 range and if index crosses and sustains above this level then may reach near 24700 - 24750 range.

Index has immediate support near 24350 – 24300 range and if this support is broken then index may tank near 24200 – 24150 range.
Trade closed: target reached
Gap up opening then tank to low near 24295 then bounced with high near 24860 and closed near 24710.
Supply and DemandSupport and ResistanceTrend Lines

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

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