Banknifty Intraday Analysis for 23rd July 2024

Index closed near 52280 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
53000 Strike – 14.89 Lakh
52500 Strike – 14.84 Lakh
52300 Strike – 10.87 Lakh

Put Writing
52000 Strike – 9.74 Lakh
51500 Strike – 9.34 Lakh
51000 Strike – 8.43 Lakh

Index has resistance near 52700 – 52800 range and if index crosses and sustain above 52850 level then may reach near 53200 - 53300 range. If Index crosses and sustain above 53300 level, then may reach near 53500 level.

Index has immediate support near 52100 – 52000 range and if this support is broken then index may tank near 51700 level and if 51700 support is broken then index may tank to 51300 – 51100 range.

Budget Day experience high volatility.

Trade closed: target reached

Highly volatile day due to Budget. Index tanked to low near 51340 and bounced back quickly to close above 51760 level.

RKMAURYA

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

Request for follow on X @rkmaurya_ra

Also on:

RKMAURYA

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

Request for follow on X @rkmaurya_ra

Also on:

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.