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RKMAURYA

Banknifty Intraday Analysis for 6th May 2024

Long
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 36.25 Lakh at 49500 strike followed by 27.21 Lakh at 50000 strike. Highest Put writing of 16.47 Lakh at 48500 strike followed by 16.20 Lakh at 49000 strike. Index closed near 48925 level.

Index fell on Friday (03-05-2024) on rumour about increase in Capital Gains Tax which was clarified by FM that Government has no plan to change in Capital Gains Tax. Index has support near 45625 level and less likely to go below 48490 level.

Index may face resistance near 49500 level and if 49600 level is broken then index may reach near 50000 level.
Order cancelled:
Index could not sustain above 11100 level and traded in very narrow range throughout day.
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