Banknifty Intraday Analysis for 04th November 2024

Nov 3

BANKNIFTY

Index closed near 51675 level and Maximum Call and Put Writing near CMP as below in current
weekly contract:

Call Writing
53000 Strike – 21.03 Lakh
52000 Strike – 20.70 Lakh
52500 Strike – 18.70 Lakh

Put Writing
51500 Strike – 10.11 Lakh
51000 Strike – 9.28 Lakh
52000 Strike – 6.97 Lakh

Index has resistance near 52000 – 52200 range and if index crosses and sustains above this level
then may reach near 52700 – 52900 range.

Index has immediate support near 51200 - 51000 range and if this support is broken then index may tank near 50600 - 50500 range.

Nov 4

Trade closed: target reached

Open flat with high near 51745 then tank to low near 51065 and closed near 51225.