Tech View: Nifty stuck between 22,400-22,600. What should traders do on Wednesday

May 21, 2024

The index manages to hold above 20 and 50-day SMA — a positive signal. An analysis of Nifty put options reveals a concentration of Open Interest at the 22,400 level, implying potential support at this level. The important key takeaway from the Nifty chart is that it is making a higher high both on the daily and weekly charts.

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Tech View: Nifty eyes 24,050 as next target; support at 23,550 from put writing. How to trade on Thursday

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