Banknifty Intraday Analysis for 24th October 2024

Oct 23

BANKNIFTY

Index closed near 51240 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
52000 Strike – 15.64 Lakh
52500 Strike – 12.92 Lakh
51500 Strike – 11.35 Lakh

Put Writing
51500 Strike – 13.65 Lakh
51000 Strike – 13.65 Lakh
50000 Strike – 9.90 Lakh

Index has resistance near 52000 – 52200 range and if index crosses and sustains above this level then may reach near 52600 – 52700 range.

Index has immediate support near 51000 - 50900 range and if this support is broken then index may tank near 50500 - 50400 range.

Oct 24

Trade closed: target reached

Gap up opening with low near 51200 with bounced with high near 51610 and close near 51565.