Midnifty Intraday Analysis for 5th August 2024
Updated
NIFTY_MID_SELECT Index closed near 12625 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
13000 Strike – 47.03 Lakh
12900 Strike – 33.24 Lakh
12800 Strike – 23.25 Lakh
Put Writing
12500 Strike – 21.50 Lakh
12400 Strike – 17.41 Lakh
12600 Strike – 16.53 Lakh
Index has immediate resistance near 12780 – 12880 range and if index crosses and sustain above 12900 level then may reach near 13200 level.
Index has immediate support near 12450 – 12350 range and if this support is broken then index may tank near 12150 – 12000 range.
Trade closed: target reached
Gap down opening below 12350 support level and tanked to low near 12190 with close near 12280.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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