Midnifty Intraday Analysis for 07th November 2024
Updated
NIFTY_MID_SELECT Index closed near 12655 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
13000 Strike – 6.83 Lakh
12600 Strike – 4.43 Lakh
12700 Strike – 4.35 Lakh
Put Writing
12300 Strike – 8.99 Lakh
12500 Strike – 6.77 Lakh
12600 Strike – 5.10 Lakh
Index has immediate resistance near 12800 - 12850 range and if index crosses and sustains above this level then may reach 12950 – 1300 range.
Index has immediate support near 12500 – 12450 range and if this support is broken then index may tank near 12250 – 12200 range.
Trade closed: target reached
Gap up opening near 12725 then tanked to low near 12565 with close near 12590.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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