Midnifty Intraday Analysis for 9th May 2024
Updated
NIFTY_MID_SELECT Maximum Call writing of 9.98 Lakh is at 11100 strike followed by 8.90 Lakh at 11000 Strike and 7.96 Lakh at 11200 strike and Put writing of 11.26 Lakh at 10800 Strike followed by 8.34 Lakh at 10600 Strike and 8.16 Lakh at 10500 strike. Index is closed near 10925 level.
Index is facing resistance near 10950 – 11000 level. If index crosses 11025 level and sustain the may reach 11100 level and if index crosses 11100 level, then resistance may reach near 11200 level.
Index has strong support near 10850 – 10800 level and less likely to go below 10760 level.
Trade closed: target reached
Flat opening and index faced resistance in 10950 - 11000 range then tanked to low near 10740 and closed near support of 10760 level as analysed.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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