Midnifty Intraday Analysis for 8th April 2024NSE:NIFTY_MID_SELECT
Maximum Call writing buildup of 26.07 Lakh is at 11000 strike followed by 15.90 Lakh at 10900 Strike and Put writing of 39.78 Lakh at 10700 Strike followed by 25.29 Lakh at 10800 Strike. Index is closed above support level of 10800.
As the more put writing is building up at 10800 and 10700 strike the support level is shifting up with big support near 10700 - 10800 level. Index is expected to trade between 10730 - 11025 level.
If Index goes above 10880 level and unwinding of Call position at 10900 strike then index may touch to resistance near 11025 level.
If Index down to 10800 level and Put Position is building up at 10800 Strike then index will bounce and goes near 11025 level.