Banknifty Intraday Analysis for 7th August 2024
Updated
BANKNIFTY Index closed near 49750 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
51000 Strike – 41.58 Lakh
50500 Strike – 35.96 Lakh
51500 Strike – 34.18 Lakh
Put Writing
49000 Strike – 23.35 Lakh
50000 Strike – 18.50 Lakh
49500 Strike – 16.12 Lakh
Index has immediate support near 49600 – 49500 range and if this support is broken then index may tank near 49200 – 49000 range and if 49000 support is broken then index may tank to 48500 – 48400 range.
Index has resistance near 50450 – 50750 range and if index crosses and sustain above 50750 level then may reach near 51000 – 51100 range.
Trade closed: target reached
Gap up opening but could not touch touch 50450 resistance and closed near 50225.
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