Midnifty Intraday Analysis for 10th April 2024
NIFTY_MID_SELECT
Maximum Call writing buildup of 11.45 Lakh is at 10900 strike followed by 7.41 Lakh at 11000 Strike and Put writing of 9.25 Lakh at 10800 Strike followed by 7.81 Lakh at 10900 Strike. Index is closed above support level of 10870.
As the more put writing is building up at 10800 and 10900 strike the support level is shifting up with big support near 10700 - 10800 level. Index is expected to trade between 10800 - 11025 level.
If Index sustain above 10920 level and unwinding of Call position at 10900 strike then index may touch to resistance near 11025 level.
If Index down to 10800 level and Put Position is building up at 10800 Strike then index will bounce and goes near 110900 level.
Maximum Call writing buildup of 11.45 Lakh is at 10900 strike followed by 7.41 Lakh at 11000 Strike and Put writing of 9.25 Lakh at 10800 Strike followed by 7.81 Lakh at 10900 Strike. Index is closed above support level of 10870.
As the more put writing is building up at 10800 and 10900 strike the support level is shifting up with big support near 10700 - 10800 level. Index is expected to trade between 10800 - 11025 level.
If Index sustain above 10920 level and unwinding of Call position at 10900 strike then index may touch to resistance near 11025 level.
If Index down to 10800 level and Put Position is building up at 10800 Strike then index will bounce and goes near 110900 level.
Trade closed: target reached:
Made high of around 10990 and faced resistance near 11025 as analysed.