Midnifty Intraday Analysis for 6th August 2024
Updated
NIFTY_MID_SELECT Index closed near 12295 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
12700 Strike – 3.05 Lakh
12800 Strike – 3.02 Lakh
12300 Strike – 2.77 Lakh
Put Writing
11500 Strike – 4.30 Lakh
12300 Strike – 3.90 Lakh
12000 Strike – 3.19 Lakh
Index has immediate support near 12100 – 12000 range and if this support is broken then index may tank near 11800 – 11700 range.
Index has immediate resistance near 12425 range and if index crosses and sustain above 12475 level then may reach near 12600 level. Upside moment is less likely to happen.
Trade closed: target reached
Gap up opening with high near 12530 but could not sustain and tanked to close near 12255 level.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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