Long

Banknifty Intraday Analysis for 5th April 2024

Updated

Highest Combined Call and Put writing at 48000 strike with 19.88 Lakh Call and 18.88 Lakh Put writing. 2nd highest Call writing of 12.79 Lakh at 48500 strike and Put writing of 16.57 Lakh at 47500 strike. The Support level is shifting up.

If Index crosses 48250 and sustain then it may go near near All Time High (ATH) resistance near 48600 level. Trailing SL near 47900.

If Index down below 48000 and Unwinding of Put Option taking place at 48000 level then index may go near 47750 then 47500 level. This scenario is less likely but anything can happen.

Trade closed: target reached

Index crossed 48250 and sustain above it and made high near 48550 as analysed and faced resistance near ATH.

RKMAURYA

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

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