Finnifty Intraday Analysis for 22nd April 2024

CNXFINANCE

Maximum Call writing is at 21800 strike with 8.13 Lakh followed by 6.51 Lakh Call at 21400 Strike then 6.18 Lakh at 21200 Strike. Maximum Put writing is at 12.17 Lakh at 20500 strike followed by 7.93 Lakh Put writing to nearer strike at 20800 then 7.64 Lakh at 20600 strike.

Index may face resistance near 21350 - 21500 level and land go beyond 10500 level only when Israel Iran War Tension eases out.

Index has support near 20800 - 20650 level and less likely to fall below 10500 unless new geopolitical tension arises.

It is expected that the index trade around 21500 - 20800 level if was tension is not escalated much. Any change will be updated if any new development arise due to Israel Iran war tension arises.

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Gap up opening near 21400 level then tanked to low near 21200 level then bounced and closed near 21350 level as analysed.