Banknifty Intraday Analysis for 25th July 2024

Index closed near 51315 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
52000 Strike – 17.08 Lakh
52500 Strike – 12.70 Lakh
51500 Strike – 10.58 Lakh

Put Writing
51000 Strike – 22.42 Lakh
50000 Strike – 11.76 Lakh
51500 Strike – 7.66 Lakh

Index has resistance near 51700 – 51800 range and if index crosses and sustain above 51800 level then may reach near 52200 level. If Index crosses and sustain above 52200 level, then may reach near 52600 – 52700 range.

Index has immediate support near 50900 – 50800 range and if this support is broken then index may tank near 50800 level.

Trade closed: target reached

Gap down opening and made low near 50560 level and bounced to close near 50885 level.

RKMAURYA

Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

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RKMAURYA

Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

Request for follow on X @rkmaurya_ra

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