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RKMAURYA

Banknifty Intraday Analysis for 16th May 2024

Nifty Bank Index (NSE:BANKNIFTY)  
RKMAURYA Updated   
NSE:BANKNIFTY   Nifty Bank Index
Support and Resistance Supply and Demand Trend Lines
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supportandresistance supplyanddemand trendline
BANKNIFTY

Highest Call writing of 15.63 Lakh at 48000 strike followed by 8.78 Lakh at 49000 strike and 6.22 Lakh at 48500 strike. Highest Put writing of 7.50 Lakh at 48000 strike followed by 6.61 Lakh at 47000 strike and 6.24 Lakh at 47500 strike. Index closed near 47690 level.

Index may reach near 48250 level and if crosses and sustain above 47900 - 47950 level and may reach near 48500 if crosses 48250 level.

Index has support near47500 - 47250 level and if 47250 support level broken then index may reach near 46500 46980 level.
Trade closed: target reached:
Gap up opening but could not sustain above 47900 level in the opening then tanked to low near 46355 level then bounced and closed above 47900 resistance level.
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