Long

Banknifty Intraday Analysis for 25th November 2024

Updated

Index closed near 51135 level and Maximum Call and Put Writing near CMP as below in current Monthly contract:

Call Writing
52000 Strike – 24.35 Lakh
51500 Strike – 19.30 Lakh
51000 Strike – 17.06 Lakh

Put Writing
51000 Strike – 22.97 Lakh
50000 Strike – 19.89 Lakh
50500 Strike – 15.55 Lakh

Gap up opening is expected in the event of a better than expected win by BJP in Maharashtra election. Index has resistance near 51700 – 51800 range and if index crosses and sustains above this level then may reach near 52300 – 52400 range.

Downside moments are less likely. However, Index has immediate support near 50700 - 50600 range and if this support is broken then index may tank near 50100 - 50000 range.

Trade closed: target reached

Gap up opening with low near 51775 and made high near 52230 with close near 52205.

RKMAURYA

Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

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