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RKMAURYA

Banknifty Intraday Analysis for 7th 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 39.65 Lakh at 49500 strike followed by 34.50 Lakh at 50000 strike and 28.06 Lakh at 49000 strike. Highest Put writing of 25.58 Lakh at 48500 strike followed by 22.96 Lakh at 49000 strike and 18.98 Lakh at 48000 strike. Index closed near 48900 level.

Index may reach near 49500 level if crosses and sustain above 49250 level and if 49600 level is broken then index may reach near 50000 level.

Index has support near 48625 - 48500 level and if this support is broken then index may reach near 48250 level.
Trade closed: target reached:
Open positive then tanked low near 48215 level but managed to close above 48250 support level.
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