Midnifty Intraday Analysis for 9th August 2024
Updated
NIFTY_MID_SELECT Index closed near 12525 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
13000 Strike – 20.56 Lakh
12500 Strike – 11.99 Lakh
12600 Strike – 9.61 Lakh
Put Writing
12200 Strike – 15.37 Lakh
12500 Strike – 13.31 Lakh
12400 Strike – 9.57 Lakh
Index has immediate resistance near 12600 - 12625 range and if index crosses and sustain above 12625 level then may reach near 12775 level and if sustain above that then reach near 13000.
Index has immediate support near 12400 – 12350 range and if this support is broken then index may tank near 12200 – 12000 range.
Trade closed: target reached
Gap up opening above 12600 resistance but could not sustain and closed near 12600.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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