Banknifty Intraday Analysis for 5th August 2024
Updated
BANKNIFTY Index closed near 51350 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
52000 Strike – 29.70 Lakh
51500 Strike – 17.86 Lakh
52500 Strike – 16.98 Lakh
Put Writing
50500 Strike – 15.46 Lakh
51000 Strike – 14.72 Lakh
51500 Strike – 14.34 Lakh
Index has resistance near 51900 – 52000 range and if index crosses and sustain above 52000 level then may reach near 52350 – 52500 range.
Index has immediate support near 51200 – 51000 range and if this support is broken then index may tank near 50400 – 50200 range.
Trade closed: target reached
Gap down opening and 50200 support and tanked to low near 49720 level with close near 50055.
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