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RKMAURYA

Banknifty Intraday Analysis for 3rd 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 27.28 Lakh at 49500 strike followed by 25.38 Lakh at 50000 strike. Highest Put writing of 20.68 Lakh at 49000 strike followed by 16.79 Lakh at 49500 strike. Index closed near 49230 level.

Index may face resistance near 49500 level and if 49600 level is broken then index may reach near 50000 level.

Index has support near 49000 - 48900 level and if this support is broken then index may reach near 48650 level.
Trade closed: target reached:
Gap up opening but could not sustain above 22600 level then tanked to low near 48660 level as analysed.
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