Banknifty Intraday Analysis for 21st November 2024
Updated
BANKNIFTY Index closed near 50625 level and Maximum Call and Put Writing near CMP as below in current Monthly contract:
Call Writing
52000 Strike – 20.74 Lakh
51000 Strike – 20.12 Lakh
51500 Strike – 15.64 Lakh
Put Writing
49500 Strike – 19.16 Lakh
50000 Strike – 14.62 Lakh
51000 Strike – 14.12 Lakh
Index has immediate support near 50000 - 49900 range and if this support is broken then index may tank near 49500 - 49400 range.
Index has resistance near 50900 – 51000 range and if index crosses and sustains above this level then may reach near 51400 – 51500 range.
Trade closed: target reached
Open flat then tanked to low near 49785 then bounced to high near 50550 and closed near 50375.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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