Get started
Nifty Bank Index
Long

Banknifty Intraday Analysis for 16th January 2025

By RKMAURYA
Updated
BANKNIFTY

Index closed near 48750 level and Maximum Call and Put Writing near CMP as below in January Month contract:

Call Writing
50000 Strike – 18.17 Lakh
49000 Strike – 13.16 Lakh
49500 Strike – 9.28 Lakh

Put Writing
48000 Strike – 13.94 Lakh
49000 Strike – 10.45 Lakh
48500 Strike – 8.52 Lakh

Index has resistance near 49350 – 49500 range and if index crosses and sustains above this level then may reach near 49600 – 49700 range.

Index has immediate support near 48400 - 48300 range and if this support is broken then index may tank near 47700 - 47600 range.
Trade closed: target reached
Gap up opening with low near 49040 and made high near 49460 and closed near 49280.
Supply and DemandSupport and ResistanceTrend Lines
RKMAURYA
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

Request for follow on X @rkmaurya_ra
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.