Midnifty Intraday Analysis for 7th May 2024
Updated
NIFTY_MID_SELECT Maximum Call writing of 4.29 Lakh is at 11100 strike followed by 2.74 Lakh at 11200 Strike and 2.59 Lakh at 11350 strike and Put writing of 5.99 Lakh at 10600 Strike followed by 4.94 Lakh at 10800 Strike and 4.90 Lakh at 11000 strike. Index is closed near 111045 level.
Index may face resistance near 11120 - 11160 level and if this resistance is broken then index may reach near 11200 - 11225 level.
Index has support near 10950 - 10880 level and if this support is broken then index may reach near 10800 level.
Trade closed: target reached
Gap up opening then Index broke the 10950 and 10800 support and tanked to low near 10755 level but managed to close above 10800 support level.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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