Banknifty Intraday Analysis for 05th November 2024
Updated
BANKNIFTY Index closed near 51215 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
52000 Strike – 31.69 Lakh
52500 Strike – 23.00 Lakh
53000 Strike – 22.40 Lakh
Put Writing
51000 Strike – 13.17 Lakh
50200 Strike – 11.78 Lakh
50000 Strike – 11.00 Lakh
Index has resistance near 51500 – 51600 range and if index crosses and sustains above this level then may reach near 51900 – 52000 range.
Index has immediate support near 50900 - 50800 range and if this support is broken then index may tank near 50500 - 50400 range.
Trade closed: target reached
Open flat then tank to low near 50865 then bounced and made high near 52290 with close near 52105.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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