Banknifty Intraday Analysis for 6th August 2024
Updated
BANKNIFTY Index closed near 50090 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
51500 Strike – 23.12 Lakh
51000 Strike – 21.90 Lakh
50500 Strike – 20.26 Lakh
Put Writing
50000 Strike – 23.42 Lakh
49000 Strike – 17.50 Lakh
49500 Strike – 14.16 Lakh
Index has immediate support near 49700 – 49600 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. Upside moment is less likely to happen.
Trade closed: target reached
Gap up opening near 50690 then tanked and closed near 49770.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.