Banknifty Intraday Analysis for 08th November 2024

Nov 7

BANKNIFTY

Index closed near 51915 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
53000 Strike – 21.11 Lakh
52500 Strike – 18.74 Lakh
52000 Strike – 14.27 Lakh

Put Writing
52000 Strike – 14.86 Lakh
51500 Strike – 8.93 Lakh
51000 Strike – 8.28 Lakh

Index has resistance near 52400 – 52500 range and if index crosses and sustains above this level then may reach near 53000 – 53200 range.

Index has immediate support near 51600 - 51500 range and if this support is broken then index may tank near 51000 - 50800 range.

Nov 8

Trade closed: target reached

Flat opening then made high near 53005 then tanked to low near 51495.