Banknifty Intraday Analysis for 31st July 2024

Jul 30BANKNIFTY

Index closed near 51500 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
53000 Strike – 50.36 Lakh
52000 Strike – 38.30 Lakh
52500 Strike – 36.90 Lakh

Put Writing
50000 Strike – 35.11 Lakh
51000 Strike – 27.21 Lakh
50200 Strike – 23.92 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 50600 – 50400 range.

Jul 31

Order cancelled

Open flat and traded in narrow range.