Midnifty Intraday Analysis for 23rd April 2024

Apr 22

NIFTY_MID_SELECT

Maximum Call writing buildup of 5.19 Lakh is at 10800 strike followed by 3.50 Lakh at 10700 Strike and Put writing of 3.48 Lakh at 10700 Strike followed by 2.50 Lakh at 10500 Strike. Index is closed near 10700 level.

Index may face resistance near 10800 - 10825 level and go near 10950 level if sustain above 10850.

Index has support near 10525 - 10500 level and less likely to fall below 10500 unless new geopolitical tension arises.

It is expected that the index trade around 10600 - 10950 level if was tension is not escalated much.

Apr 23

Trade closed: target reached

Gap up opening and faced resistance near 10800 - 10825 level as analysed.