Midnifty Intraday Analysis for 31st May 2024
Updated
NIFTY_MID_SELECT Maximum Call writing near CMP is at 11400 strike with 5.57 Lakh followed by 5.41 Lakh at 11600 Strike and 5.32 Lakh at 11500 strike and Put writing of 4.23 Lakh at 11200 Strike followed by 3.86 Lakh at 11400 Strike and 3.41 Lakh at 11500 strike. Index is closed near 11340 level.
Index has resistance near 11425 - 11450 range and if index crosses and sustain above 11625 level then index may reach near 11700 level. If crosses and sustain above 11725 then Index may reach near 11800 level.
Index has support near 11300 level and if this support is broken then index may tank to 11200 – 11150 range.
Trade closed: target reached
Gap up opening but could not cross 11425 level then tanked to low near 11300 then managed to close above 11850 level.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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