Midnifty Intraday Analysis for 16th May 2024
Updated
NIFTY_MID_SELECT Maximum Call writing of 9.60 Lakh is at 11200 strike followed by 8.66 Lakh at 11400 Strike and 7.56L Lakh at 11300 strike and Put writing of 10.52 Lakh at 11100 Strike followed by 9.59 Lakh at 11000 Strike and 6.83 Lakh at 10900 strike. Index is closed near 11165 level.
Index may reach near 11200 - 11225 level if crosses and sustain above 11060 level and if crossed above 11250 level then reach near 11300 level.
Index has support near 11100 level and if this support is broken then index may tank to 11000 level.
Trade closed: target reached
Gap up opening above 11200 level then tanked to support level 11200 then again bounced and closed below 11300 resistance level.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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