Maximum Call writing buildup of 29.03 Lakh is at 11000 strike followed by 12.50 Lakh at 11050 Strike and Put writing of 25.16 Lakh at 10800 Strike followed by 18.06 Lakh at 10900 Strike. Index is closed above support level of 10940.
Index may face resistance near 11000 - 11050 level and may retrace if go 11025 - 11050 leve if more Call writing is building up at 11000 and 11050 strike.
If Index has support near 10800 level if index down below 10880 and Put unwinding takes place at 10900 level.
If Index down below 10800 then it may further tanked to 10650 level.
Trade chiuso: obiettivo raggiunto
Gap down opening and found support near 10800 level as analysed.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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