Midnifty Intraday Analysis for 21st January 2025
Updated
NIFTY_MID_SELECT Index closed near 12355 level and Maximum Call and Put Writing near CMP as below in January Month contract:
Call Writing
12500 Strike – 6.66 Lakh
12400 Strike – 4.26 Lakh
12300 Strike – 3.25 Lakh
Put Writing
12000 Strike – 9.16 Lakh
12100 Strike – 3.65 Lakh
12500 Strike – 3.67 Lakh
Index has immediate resistance near 12500 – 12550 range and if index crosses and sustains above this level then may reach 12650 – 12700 range.
Index has immediate support near 12150 – 12100 range and if this support is broken then index may tank near 11950 – 11900 range.
High volatility expected due uncertainty on what will say in his first presidential speech and which executive order President Trump will sign after assuming the Oval office.
Trade closed: target reached
Open flat with high 12370 then tank to low near 12305 with close near 12315. Market tanked due to non clarity on tariff imposition by Trump Administration and other executive orders.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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