Midnifty Intraday Analysis for 19th April 2024
Updated
NIFTY_MID_SELECT Maximum Call writing buildup of 12.82 Lakh is at 11100 strike followed by 9.46 Lakh at 10900 Strike and Put writing of 12.28 Lakh at 10500 Strike followed by 10.66 Lakh at 10700 Strike. Index is closed above support level of 10750.
Index may face resistance near 10850 - 10900 level and less likely expected to go beyond 10950 level due to weekend and Israel Iran War Tension.
If Index has support near 10700 level and if index fall below 10700 then it may go near 10590 level.
It is expected that the index trade around 10800 - 10900 level if was tension is not escalated much. Any change will be updated if any new development arise due to Israel Iran war tension arises.
Note
Gap down opening below 10590 support then bounced above 10590 support and faced resistance near new resistance near 10700 level and closed below it.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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