Finnifty Intraday Analysis for 03rd February 2025

CNXFINANCE

Index closed near 23170 level and Maximum Call and Put Writing near CMP as below in February Month contract:

Call Writing
23500 Strike – 0.38 Lakh
23000 Strike – 0.38 Lakh
23200 Strike – 0.34 Lakh

Put Writing
23000 Strike – 0.44 Lakh
22500 Strike – 0.28 Lakh
23200 Strike – 0.21 Lakh

Index has resistance near 23400 - 23450 range and if index crosses and sustains above this level then may reach near 23650 - 23700 range.

Index has immediate support near 23000 – 22950 range and if this support is broken then index may tank near 22800 – 22750 range.

Volatility expected due to escalation of tariff war by the Trump Administration.