Midnifty Intraday Analysis for 29th July 2024

Diupdate
NIFTY_MID_SELECT

Index closed near 12685 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
13000 Strike – 28.90 Lakh
12900 Strike – 18.05 Lakh
12700 Strike – 15.15 Lakh

Put Writing
12400 Strike – 28.32 Lakh
12500 Strike – 19.45 Lakh
12600 Strike – 15.39 Lakh

Index has immediate resistance near 12700 – 12750 range and if index crosses and sustain above 12750 level then may reach near 13000 level.

Index has immediate support near 12550 – 12500 range and if this support is broken then index may tank near 12350 – 12300 range.
Catatan
Gap up opening and made high near 12875 level then profit booking dragged to close near 12815.
Supply and DemandSupport and ResistanceTrend Lines

Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

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