Midnifty Intraday Analysis for 25th November 2024
Updated
NIFTY_MID_SELECT Index closed near 12305 level and Maximum Call and Put Writing near CMP as below in current Monthly contract:
Call Writing
12500 Strike – 15.02 Lakh
12300 Strike – 9.70 Lakh
12400 Strike – 6.56 Lakh
Put Writing
12100 Strike – 13.26 Lakh
12200 Strike – 11.06 Lakh
12300 Strike – 9.83 Lakh
Gap up opening is expected in the event of a better than expected win by BJP in Maharashtra election. Index has immediate resistance near 12450 - 12500 range and if index crosses and sustains above this level then may reach 12650 – 12700 range.
Downside moments are less likely. However, Index has immediate support near 12200 – 11150 range and if this support is broken then index may tank near 12050 – 12000 range.
Trade closed: target reached
Gap up opening with low near 12460 and made high near 12595 with close near 12575.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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