Midnifty Intraday Analysis for 7th January 2025
Updated
NIFTY_MID_SELECT Index closed near 12695 level and Maximum Call and Put Writing near CMP as below in January Month contract:
Call Writing
13000 Strike – 7.09 Lakh
12800 Strike – 3.524 Lakh
12700 Strike – 2.40 Lakh
Put Writing
13000 Strike – 5.62 Lakh
12800 Strike – 4.64 Lakh
12700 Strike – 3.95 Lakh
Index has immediate resistance near 12800 – 12850 range and if index crosses and sustains above this level then may reach 12950 – 13000 range.
Index has immediate support near 12650 – 12600 range and if this support is broken then index may tank near 12500 – 12450 range. If the Index doesn't bounce back from day low, another round of downside moment is expected due to fresh development of the HMPV threat.
Trade closed: target reached
Gap up opening and made high near 12865 then again fall with low near 12720 and closed near 12740.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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