Nifty Bank Index
Long
Updated

Banknifty Intraday Analysis for 16th September 2024

BANKNIFTY

Index closed near 51940 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
52000 Strike – 23.74 Lakh
53000 Strike – 18.07 Lakh
52500 Strike – 15.54 Lakh

Put Writing
51000 Strike – 21.60 Lakh
51500 Strike – 20.51 Lakh
51200 Strike – 13.72 Lakh

Index has resistance near 52000 – 52100 range and if index crosses and sustains above 52100 level then may reach near 52500 – 52600 range.

Index has immediate support near 51600 – 51500 range and if this support is broken then index may tank near 51100 - 51000 range.
Trade closed: target reached
Gap up opening and traded in range between 52210 and 52010 level.


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