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RKMAURYA

Banknifty Intraday Analysis for 22nd April 2024

Nifty Bank Index (NSE:BANKNIFTY)  
RKMAURYA Updated   
NSE:BANKNIFTY   Nifty Bank Index
Support and Resistance Supply and Demand Trend Lines
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supportandresistance supplyanddemand trendline
BANKNIFTY

Highest Call writing of 29.34 Lakh at 48000 strike followed by 18.49 Lakh at 47500. Highest Put writing of 26.48 Lakh at 47000 strike followed by 17.78 Lakh at 47500 strike.

Index may face resistance near 48125 - 48250 level and and go beyond 45250 level only when Israel Iran War Tension eases out.

Index has support near 46500 level and less likely to fall below 46500 unless new geopolitical tension arises.

It is expected that the index trade around 47000 - 48250 level if was tension is not escalated much. Any change will be updated if any new development arise due to Israel Iran war tension arises.
Trade closed: target reached:
Gap up opening and faced resistance near 48125 level then tanked near 47620 level and again bounced to high near 48000 level.
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