Midnifty Intraday Analysis for 22nd April 2024

Apr 20

NIFTY_MID_SELECT

Maximum Call writing buildup of 20.70 Lakh is at 11000 strike followed by 16.92 Lakh at 10900 Strike then at 10800 Strike with 15.77 Lakh and Put writing of 18.91 Lakh at 10500 Strike followed by 12.10 Lakh at 10400 Strike and 11.53 Lakh at 10600 Strike. Index is closed near 10665 level.

Index may face resistance near 10850 - 10900 level and go beyond 10950 level only when Israel Iran War Tension eases out.

Index has support near 10575 - 10525 level and less likely to fall below 10500 unless new geopolitical tension arises.

It is expected that the index trade around 10600 - 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.

Apr 22

Order cancelled

Gap up opening then traded around 10700 support level. No trade initiated.